Barack Obama

When did Money Magazine estimate Obama's net worth at $1.3 million?

In December 2007, Money Magazine estimated Obama's net worth at $1.3 million (equivalent to $1.6 million in 2019) . Their 2009 tax return showed a household income of $5.5 million—up from about $4.2 million in 2007 and $1.6 million in 2005—mostly from sales of his books. On his 2010 income of $1.7 million, he gave 14% to non-profit organizations, including $131,000 to Fisher House Foundation, a charity assisting wounded veterans' families, allowing them to reside near where the veteran is receiving medical treatments. Per his 2012 financial disclosure, Obama may be worth as much as $10 million.


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  • After winning re-election by defeating Republican opponent Mitt Romney, Obama was sworn in for a second term in 2013. During this term, he promoted inclusion for LGBT Americans. His administration filed briefs that urged the Supreme Court to strike down same-sex marriage bans as unconstitutional (United States v. Windsor and Obergefell v. Hodges); same-sex marriage was legalized nationwide in 2015 after the Court ruled so in Obergefell. He advocated for gun control in response to the Sandy Hook Elementary School shooting, indicating support for a ban on assault weapons, and issued wide-ranging executive actions concerning global warming and immigration. In foreign policy, he ordered military intervention in Iraq in response to gains made by ISIL after the 2011 withdrawal from Iraq, continued the process of ending U.S. combat operations in Afghanistan in 2016, promoted discussions that led to the 2015 Paris Agreement on global climate change, initiated sanctions against Russia following the invasion in Ukraine and again after Russian interference in the 2016 United States elections, brokered a nuclear deal with Iran, and normalized U.S. relations with Cuba. Obama nominated three justices to the Supreme Court: Sonia Sotomayor and Elena Kagan were confirmed as justices, while Merrick Garland faced partisan obstruction and was not confirmed. During his term in office, America's reputation abroad significantly improved. His presidency has generally been regarded favorably, and evaluations of his presidency among historians, political scientists, and the general public place him among the upper tier of American presidents. Obama left office in January 2017 and continues to reside in Washington, D.C.

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  • Obama signed many landmark bills into law during his first two years in office. The main reforms that were passed include the Patient Protection and Affordable Care Act (commonly referred to as the "Affordable Care Act" or "Obamacare"), although without a public health insurance option, the Dodd–Frank Wall Street Reform and Consumer Protection Act, and the Don't Ask, Don't Tell Repeal Act of 2010. The American Recovery and Reinvestment Act of 2009 and Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 served as economic stimulus amidst the Great Recession. After a lengthy debate over the national debt limit, he signed the Budget Control and the American Taxpayer Relief Acts. In foreign policy, he increased U.S. troop levels in Afghanistan, reduced nuclear weapons with the United States–Russia New START treaty, and ended military involvement in the Iraq War. He ordered military involvement in Libya, contributing to the overthrow of Muammar Gaddafi. He also ordered the military operations that resulted in the deaths of Osama bin Laden and suspected Yemeni Al-Qaeda operative Anwar al-Awlaki.

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  • In 1971, Obama returned to Honolulu to live with his maternal grandparents, Madelyn and Stanley Dunham. He attended Punahou School—a private college preparatory school—with the aid of a scholarship from fifth grade until he graduated from high school in 1979. In his youth, Obama went by the nickname "Barry". Obama lived with his mother and half-sister, Maya Soetoro, in Hawaii for three years from 1972 to 1975 while his mother was a graduate student in anthropology at the University of Hawaii. Obama chose to stay in Hawaii with his grandparents for high school at Punahou when his mother and half-sister returned to Indonesia in 1975 so his mother could begin anthropology field work. His mother spent most of the next two decades in Indonesia, divorcing Lolo in 1980 and earning a PhD degree in 1992, before dying in 1995 in Hawaii following unsuccessful treatment for ovarian and uterine cancer.

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  • In a 2006 interview, Obama highlighted the diversity of his extended family: "It's like a little mini-United Nations," he said. "I've got relatives who look like Bernie Mac, and I've got relatives who look like Margaret Thatcher." Obama has a half-sister with whom he was raised (Maya Soetoro-Ng) and seven other half-siblings from his Kenyan father's family—six of them living. Obama's mother was survived by her Kansas-born mother, Madelyn Dunham, until her death on November 2, 2008, two days before his election to the Presidency. Obama also has roots in Ireland; he met with his Irish cousins in Moneygall in May 2011. In Dreams from My Father, Obama ties his mother's family history to possible Native American ancestors and distant relatives of Jefferson Davis, President of the Confederate States of America during the American Civil War. He also shares distant ancestors in common with George W. Bush and Dick Cheney, among others.

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