Barack Obama's net worth as he leaves the White House

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On Jan. 20, Donald Trump will be sworn in as the 45th president of the United States and the Barack Obama era will officially come to an end. While his net worth is nowhere near that of his successor, Mr. Obama will leave office a very rich man. Here is a look at President Barack Obama as he turns over the presidency, his net worth and plans for the future.

President Barack Obama Net Worth: $12.2 Million

For his day job as president, Barack Obama earned $400,000 a year throughout his entire eight-year term — a salary that incoming president Trump has vowed to forgo. The president also receives a $50,000 annual expense account, a $100,000 nontaxable travel account and a $19,000 entertainment budget.

On April 15, 2016, President Obama released his 2015 tax returns, which showed that he and First Lady Michelle Obama filed jointly and reported an adjusted gross income of $436,065. They paid $81,472 in taxes according to their 18.7 percent tax rate.

They also donated a total of $64,066 to more than 30 charities.

According to CelebrityNetWorth.com, Mr. Obama has a net worth of $12.2 million and First Lady Michelle Obama is not far behind with a net worth of $11.8 million.

See how all U.S. presidents stack up in terms of wealth:

44 PHOTOS
Ranking the US presidents by net worth
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Ranking the US presidents by net worth
42. Harry S. Truman: <$1 million

33rd President (1945-1953)

(Photo via Bettmann via Getty Images)

41. Calvin Coolidge: <$1 million

30th President (1923-1929)

(Photo via Bettmann via Getty Images)

40. Woodrow Wilson: <$1 million

28th President (1913-1921)

(Photo by JHU Sheridan Libraries/Gado/Getty Images)

39. Chester A. Arthur: <$1 million

21st President (1881-1885)

(Photo via Bettmann via Getty Images)

38. James A. Garfield: <$1 million

20th President (1881-1881)

(Photo by National Archive/Newsmakers)

37. Ulysses S. Grant: <$1 million

18th President (1869-1877)

(Photo by The Print Collector/Print Collector/Getty Images)

36. Andrew Johnson: <$1 million 

17th President (1865-1869)

(Photo by The Print Collector/Print Collector/Getty Images)

35. Abraham Lincoln: <$1 million

16th President (1861-1865)

(Photo by Smith Collection/Gado/Getty Images).

34. James Buchanan: <$1 million

15th President (1857-1861)

(Photo by Stock Montage/Stock Montage/Getty Images)

33. Warren G. Harding: $1 million

29th President (1921-1923)

(Photo by ullstein bild/ullstein bild via Getty Images)

32. William McKinley: $1 million

25th President (1897-1901)

(Photo via Bettmann via Getty Images)

31. Franklin Pierce: $2 million

14th President (1853-1857)

(Photo by National Archive/Newsmakers)

30. William Howard Taft: $3 million

27th President (1909-1913)

(Photo by: Liverani/Andia/UIG via Getty Images)

29. Rutherford B. Hayes: $3 million

19th President (1877-1881)

(Photo by Hulton Archive/Getty Images)

28. Millard Fillmore: $4 million

13th President (1850-1853)

(Photo by Universal History Archive/UIG via Getty Images)
27. Benjamin Harrison: $5 million

23rd President (1889-1893)

(Photo via Bettmann via Getty Images)

26. William Henry Harrison: $5 million

9th President (1841-1841)

(Photo by National Archive/Newsmakers)

25. Zachary Taylor: $6 million 

12th President (1849-1850)

(Photo by Bettman via Getty Images)

24. Jimmy Carter: $7 million

39th President (1977-1981)

(Photo by Universal History Archive/Getty Images)

23. Gerald Ford: $7 million

38th President (1974-1977)

(Photo via Bettman via Getty Images)

22. Barack Obama: $7 million

44th President (2009-present)

(Photo by Oscar Gonzalez/NurPhoto via Getty Images)

21. Dwight Eisenhower: $8 million

34th President (1953-1961)

(Photo by Library of Congress/Corbis/VCG via Getty Images)

20. James K. Polk: $10 million

11th President (1845-1849)

(Photo via Bettmann via Getty Images)

19. Ronald Reagan: $13 million

40th President (1981-1989)

(Photo by Harry Langdon/Getty Images)

18. Richard Nixon: $15 million

37th President (1969-1974)

(Photo by Keystone-France\Gamma-Rapho via Getty Images)

17. John Adams: $19 million

2nd President (1797-1801)

(Photo by Stock Montage/Stock Montage/Getty Images)

16. George W. Bush: $20 million

43rd President (2001-2009)

(Photo by Alex Wong/Getty Images)

15. John Quincy Adams: $21 million

6th President (1825-1829)

(Photo by Hulton Archive/Getty Images)

14. George H. W. Bush: $23 million

41st President: (1989-1993)

(Photo by David Hume Kennerly/Getty Images)

13. Grover Cleveland: $25 million

22nd and 24th President (1885-1889) and (1893-1897)

(Photo by Library of Congress/Corbis/VCG via Getty Images)

12. Martin Van Buren: $26 million 

8th President: (1837-1841)

(Photo by Stock Montage/Stock Montage/Getty Images)

11. James Monroe: $27 million

5th President (1817-1825)

(Photo by: Getty Images)

10. John Tyler: $51 million

10th President (1841-1845)

(Photo by National Archive/Newsmakers)

9. Bill Clinton: $55 million

42nd President (1993-2001)

(Photo Bettmann via Getty Images)

8. Franklin D. Roosevelt: $60 million

32nd President (1933-1945)

(Photo by VCG Wilson/Corbis via Getty Images)

7. Herbert Clark Hoover: $75 million

31st President (1929-1933)

(Photo via Bettmann via Getty Images)

6. Lyndon Johnson: $98 million

36th President: (1963-1969)

(Photo via Bettmann via Getty Images)

5. James Madison: $101 million

4th President (1809-1817)

(Photo via Bettmann via Getty Images)

4. Andrew Jackson: $119 million

7th President (1829-1837)

(Photo by DeAgostini/Getty Images)

3. Theodore Roosevelt: $125 million

26th President (1901-1909)

(Photo by Hulton Archive/Getty Images)

2. Thomas Jefferson: $212 million

3rd President (1801-1809)

(Photo by Kean Collection/Getty Images)

1. George Washington: $525 million

1st President (1789-1797)

(Photo by Hulton Archive/Getty Images)

1.* John F. Kennedy: $1 billion 

35th President (1961-1963)

*Had he lived, JFK would have inherited $1 billion from his father. 

(Photo via Bettmann via Getty Images)

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Related: President Donald Trump's Net Worth

A Timeline of Barack Obama's Wealth

How exactly did Obama grow his fortune? Here's a timeline of his earnings over the years, as Chronicled by Business Insider:

2004: He earned a salary of $80,287 from the Illinois State Senate and $32,144 from the University of Chicago Law School, where he taught. The president also had assets in four financial funds worth between $50,000 and $100,000 each.
2005: Obama signed a multi-book deal with Random House and received a $1.9 million advance for "The Audacity of Hope," plus royalties, following his appearance at the 2004 Democratic National Convention. Also that year he earned just over $847,000 off another book advance, plus $378,000 off additional book royalties. Meanwhile, his investments grew with the addition of a Nuveen Floating Rate Income Fund valued between $50,000 and $100,000. He also reported deposit accounts valued between $150,000 and $350,000.
2006: Obama reported book royalties of just under $150,000, plus $425,000 off an additional book advance. He also acquired publicly-traded assets worth tens of thousands, including funds with Goldman Sachs and Vanguard.
2007: Obama earned $3.3 million off book royalties from Random House and $816,000 from Dystel & Goderich Literary Management. He acquired a Northern Municipal Money Market Fund valued between $1 million and $5 million, in addition to U.S. Treasury notes valued between $500,000 and $1 million. For his daughters, he invested in two 529 college savings plans valued around $200,000 each.
2008: When Obama was sworn in as president, he owned somewhere between $1 million and $5.1 million in U.S. Treasury bills.
2009: Obama won the Nobel Peace Prize, which came with a $1.4 million award. He donated it to an assortment of charities.
2009-2015: Obama earned $400,000 a year as president and continued to earn book royalties, as well as interest on his investments.

Learn: The Best Investments at Each Stage During Your Life

Barack Obama: Life Beyond the Presidency

According to Time, the first thing Barack Obama plans to do after leaving the hardest job in the world is to "sleep for two weeks."

According to USA Today, the president is likely to return to his community activist roots — following his slumber, of course. That will likely include work on issues that were important to him during his presidency, such as gun control, immigration, nuclear nonproliferation, race relations and criminal justice reform.

According to the 1958 Former Presidents Act, Obama will receive the salary of a Cabinet secretary for the rest of his life. Currently, that's $205,700 a year. Among the other perks are health insurance and round-the-clock Secret Service protection until his death.

The costs of Secret Service protection are not made public, but Obama will also receive funds for an office, staff and related expenses, which George W. Bush took advantage of to the tune of $1.1 million in 2015.

Related: How Obama Benefits From Your Tax Refund

Many presidents establish foundations and enjoy lucrative second careers as in-demand speakers and authors. Although there is no hard data on Obama's previous speaking fees, past presidents such as George W. Bush have earned between $100,000 and $175,000 per engagement after they left the White House.

Either way, Obama will be the first president in nearly 100 years to remain in Washington, D.C., after leaving office. He and the family will remain in town so his youngest daughter, Sasha, can finish high school.

Their new Washington digs are located in the capitol's posh Kalorama neighborhood, where first daughter Ivanka Trump also owns a home. The Obamas have leased a 8,200-square-foot, nine-bedroom mansion that was built in 1928. The spacious home last sold for $5.3 million in 2014 and is estimated to be worth $6.3 million today.

Barack Obama will leave office a very rich man. He and the first lady are likely to remain a visible Washington power couple after an even wealthier power broker takes his place in the Oval Office.

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