Ever since Barack Obama took office, he has tried to keep details of his daughters' lives private. That's why he was furious this week when an article came out this week exploring the net worth of 18 year-old Malia Obama.
With articles like this coming out, the president will likely be afraid that people will be more likely to use his daughter Malia to get to her money. It also shatters the image that the Obamas are an average American family that they have worked so hard to create…
MorningLedger reports that Malia and her sister Natasha (commonly known as "Sasha") have $200,000 and $450,000 in 529 college plans. The sisters both attended the Sidwell Friends School in Washington, D.C. after their father became president. The first presidential daughter has just graduated this summer and plans on taking a gap year before studying at Harvard University, her parents' alma mater.
Malia Obama's net worth is difficult to pin down. The eldest presidential daughter, however, has been working in the film and TV industry as young as 16 years old. When actress Lena Dunham visited the White House, Malia mentioned she was a fan of her show. Subsequently, Malia became an intern at the show Girls. Before that, she worked with the crew behind Halle Berry's Extant.
Her father's wealth is easier to trace. As the United States president, Barack Obama earns $400,000 a year. Celebrity Net Worths say Obama is worth $12.2 million, but the outgoing president's exact net worth is difficult to estimate since he receives, not just his salary, but also book royalties, investments, and monetary awards and prizes.
In 2009, his books got him $5.7 million, and his upcoming memoir is predicted to earn $20 million, according to Heavy. In the same report, Obama's pension earnings are reported to be around $1.5 million every year. Obama's books, Dreams From My Father, The Audacity of Hope, and Of Thee I Sing: A Letter to My Daughters earned him around $35,000 to $115,000 in royalties.
Obama also has assets, funds, and investments that bring in revenue. According to MONEY, he has $5 million in the Normal Municipal Money Market Fund, U.S. Treasury notes worth $1 million, and a Nobel Peace Prize monetary reward of $1.4 million, not to mention his other stock investments.
There is no contest that President Obama earns the most in his family, but the formidable First Lady Michelle Obama also offers a princely net worth of $11.8 million in her books, investments, and assets, like her husband. The first lady's books titled Michelle Obama, Believe in the Possibility, and American Grownalso earn her royalties. Her retirement funds are $250,000 in value, and her two cars are worth $56,000 together.
The couple's reported income went down since after Barack Obama became president, mostly due to lower book earnings. Still, the Obama family's net worth is huge. One of their assets is their $1.5 million home in Chicago.
Taking all their earnings together, the Obama family has more than a $23 million net worth, which is huge for a small family of only four. This will, no doubt, decrease when Obama leaves his position as president, but his new free time can afford him a chance to venture out into other businesses.
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