Barack Obama earns more as an author than as president
19th May 2010
US president Barack Obama has declared his earnings for 2009, revealing that the majority of his income is generated from book sales.
Obama earned USD 5.5 million (GBP 3.8 million) last year. The president also declared assets of USD 7.7 million and charitable donations of USD 329,000, which went to 40 separate organisations.
His disclosure also confirmed that he earned more from the sale of his two bestselling books - Dreams from My Father and The Audacity of Hope - than he did from his salary as head of state, which nets him USD 400,000 a year.
Other assets declared by the president included his dog, Bo, which was valued at USD 1,600, and a number of retirement savings accounts.
Just before becoming president, Obama received a USD 500,000 advance from his publisher and signed a deal that entitles him to 15 per cent of his hardcover book sales and ten per cent of paperback sales in the US.
In 2008 Obama's income from book sales was around USD 2.6 million.