Obama could make up to $242 million after leaving Washington, D.C.

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Byline: Nick Cardona

As President Obama prepares to leave office, he will be leaving Washington a very rich man.

According to a study from American University, both the President and First Lady Michelle Obama could make up to $242 million after they leave the White House. During his two terms in office, Obama has made an annual salary of $400,000. A paycheck President-elect Donald Trump has said he will not accept. That along with an annual expense account, a nontaxable travel account and an entertainment budget make up the President's annual take in.

According to CelebrityNetWorth.com, the President currently has a net worth of $12.2 million.

First Lady Michelle Obama is close with a net worth of $11.8 million. According to Business Insider, a lot of Obama's wealth has been amassed from multi-book deals, royalties and investments.

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Obama Family at Farewell Speech
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Obama Family at Farewell Speech
US First Lady Michelle Obama (2R) and US President Barack Obama greet supporters as daughter Malia looks on after the President delivered his farewell address in Chicago, Illinois on January 10, 2017. Barack Obama closes the book on his presidency, with a farewell speech in Chicago that will try to lift supporters shaken by Donald Trump's shock election. / AFP / Nicholas Kamm (Photo credit should read NICHOLAS KAMM/AFP/Getty Images)
U.S. President Barack Obama, center left, embraces his daughter Malia Obama as U.S. First Lady Michelle Obama, center right, looks on while U.S. Vice President Joseph 'Joe' Biden, right, and his wife Jill Biden, second right, walk onto the stage after his farewell address in Chicago, Illinois, U.S., on Tuesday, Jan. 10, 2017. Obama blasted 'zero-sum' politics as he drew a sharp contrast with his successor in his farewell address Tuesday night, acknowledging that despite his historic election eight years ago his vision for the country will exit the White House with him. Photographer: Christopher Dilts/Bloomberg via Getty Images
CHICAGO, IL - JANUARY 10: President Barack Obama greets his wife Michelle and daughter Malia following his farewell speech to the nation on January 10, 2017 in Chicago, Illinois. President-elect Donald Trump will be sworn in the as the 45th president on January 20. (Photo by Scott Olson/Getty Images)
U.S. President Barack Obama, right, gestures as U.S. First Lady Michelle Obama, center, and their daughter Malia Obama look on after his farewell address in Chicago, Illinois, U.S., on Tuesday, Jan. 10, 2017. Obama blasted 'zero-sum' politics as he drew a sharp contrast with his successor in his farewell address Tuesday night, acknowledging that despite his historic election eight years ago his vision for the country will exit the White House with him. Photographer: Christopher Dilts/Bloomberg via Getty Images
CHICAGO, UNITED STATES - JANUARY 10 : U.S. President Barack Obama greets daughter Malia (not seen) and first lady Michelle Obama on stage after delivering his farewell address at the McCormick Place, the largest convention center in North America, on January 10, 2017 in Chicago, United States. (Photo by Bilgin Sasmaz/Anadolu Agency/Getty Images)
Malia and Michelle Obama join President Barack Obama onstage after the farewell address at McCormick Place in Chicago, Illinois, USA on January 10, 2017. (Photo by Emily Molli/NurPhoto via Getty Images)
U.S. first lady Michelle Obama and her daughter Malia embrace as President Barack Obama praises them during his farewell address in Chicago, Illinois, U.S. January 10, 2017. REUTERS/Jonathan Ernst
U.S. President Barack Obama (R) is joined onstage by first lady Michelle Obama and daughter Malia, Vice President Joe Biden and his wife Jill Biden, after his farewell address in Chicago, Illinois, U.S. January 10, 2017. REUTERS/Jonathan Ernst
U.S. President Barack Obama, his wife Michelle, their daughter Malia, Vice-President Joe Biden and his wife Jill acknowledge the crowd after President Obama delivered a farewell address at McCormick Place in Chicago, Illinois, U.S. January 10, 2017. REUTERS/John Gress
CHICAGO, IL - JANUARY 10: U.S. President Barack Obama, along with first lady Michelle Obama, daughter Malia Obama, Vice President Joe Biden and his wife Dr. Jill Biden wave goodbye to supporters after Obama's farewell address at McCormick Place on January 10, 2017 in Chicago, Illinois. Obama addressed the nation in what is expected to be his last trip outside Washington as president. President-elect Donald Trump will be sworn in the as the 45th president on January 20. (Photo by Darren Hauck/Getty Images)
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