The president of the United States is one of the most influential people in the world. It also helps former presidents earn a fortune.
The president makes $400,000 a year and gets an expense account of $50,000. Being president is expensive.
In her book, Spoken From the Heart, former First Lady Laura Bush said that while first families don’t have to pay rent at the White House, they are charged for food, dry cleaning, and staff wages at private parties. She also felt pressured to buy a designer wardrobe and pay for daily blowouts.
The Clintons probably got into debt during Bill Clinton’s eight years in office. In a 2014 interview, Hillary Clinton said the couple was “dead broke” when they left the White House. They later owed around $12 million.
Former first couples often make money from books and speeches after leaving office. This lets presidents who didn’t have money when they started become rich.
Donald Trump
Net worth: $2 billion.
Trump is the only billionaire president in American history. His net worth is $2 billion. He was a Republican and the 45th president of the U.S. from 2017 to 2021.
Trump was known for communicating through Twitter but was eventually banned from the platform. The only president in American history to be impeached twice, he was accused of inciting an insurrection at the U.S. Capitol during the certification of the 2020 presidential election.
Before becoming president, Trump ran the Trump Organization, his real estate company. The company owns hotels, golf courses, houses, and offices.
Trump was also a reality T.V. star, hosting The Apprentice on NBC from 2004 to 2016. He is also an author with over 15 best-selling books, including The Art of the Deal. Released in December 2021, his latest book, “Our Journey Together,” made $20 million in less than two months, according to CNN.
Bill Clinton
Net worth: $120 million.
Bill Clinton was the 42nd president of the U.S. from 1993 to 2001. He was the first Democratic president since FDR to win a second term. He created the most jobs, made homeownership the highest in U.S. history, and signed the Family and Medical Leave Act.
Clinton’s presidency was also marred by scandal. In 1998, he was impeached for lying to the grand jury and covering up an affair with Monica Lewinsky.
According to The Washington Post, the Clintons left the White House with debt but paid it off by 2004. After leaving office, he made millions from speaking engagements. Hillary made $2.5 million that year from an advance for her book, “Living History.”
According to a Forbes analysis of their tax returns, the couple made over $240 million from 2001 to 2015. Bill made $189 million from books, speeches, consulting, and advising billionaire Ron Burkle. Hillary earned $12 million from Simon & Schuster from 2013 to 2015.
Barack Obama
Net worth: $70 million.
Barack Obama was the 44th president of the U.S. from 2009 to 2017. The Democrat is best known for signing the Affordable Care Act.
Obama also signed the Iran nuclear deal and the Paris Agreement and reopened the U.S. embassy in Cuba.
Obama and his wife sold their memoirs for $65 million. He also started making money from speaking gigs, getting two $400,000 gigs within months of leaving the White House.
In 2018, the Obamas signed a deal with Netflix to produce shows and movies for the streaming platform. The couple’s Higher Ground Productions also produces books for all ages, including Fatherhood, Ada Twist, Scientist, and American Factory.
Joe Biden
Net worth: $9 million.
Joe Biden was a U.S. senator from Delaware for 36 years. He became America’s 46th president in 2021. The Democrat had served as Obama’s vice president.
During his first few months as president, Biden signed a $1.9 trillion COVID-19 relief package into law and a $1 trillion infrastructure bill.
Biden once called himself the “poorest man in Congress.” His net worth is $9 million, but he’s still the poorest living president.
According to Politico, in his first two years as vice president, Biden and his wife made over $15 million, mostly from speaking fees and book deals. He made over $4 million from giving more than 40 speeches, including one where he made $235,000.
Jimmy Carter
Net worth: $10 million.
In 1977, Democrat Jimmy Carter became the 39th president of the U.S. He was a peanut farmer and served one term.
He created the Department of Education, boosted Social Security, and expanded the national park system. However, he also faced challenges, including high inflation and the Soviet invasion of Afghanistan, which prevented the SALT II pact from being ratified.
After leaving office, he wrote more than thirty books, including A Full Life, Reflections at Ninety, A Call to Action, Women, Religion, Violence, and Power, and An Hour Before Daylight: Memoirs of a Rural Boyhood.
The former president and his wife founded The Carter Center, which helps people and fights human rights abuses. The couple has been involved with Habitat for Humanity for over 35 years.