Books Made Millions for Obama in 2008

Posted May 15, 2009 at 6:04pm

President Barack Obama earned between $1.1 million and $6.1 million beyond his Senate salary last year, much of it in royalties from his book “The Audacity of Hope,— according to financial records released by the White House late Friday.The book earned the president from $1 million to $5 million. Obama’s other book, “Dreams From My Father,— earned between $100,000 and $1 million last year.Obama signed an agreement Jan. 15, just before becoming president, to receive an additional $500,000 as an advance against royalties for an abridged version of “Dreams— rewritten in a form suitable for younger readers.Obama holds assets in the range of $1.4 million to $5.9 million, including between $1 million and $5 million in Treasury bills. He has no reported liabilities.Vice President Joseph Biden reported between $119,000 and $610,000 in assets against $200,000 to $480,000 in liabilities. He had outside income of no more than $11,000.