Is the U.S. President a Wealth 'Rocket'?
The ability of a U.S. President to fatten their wallet is truly remarkable. Let's not even talk about Trump; just looking at several other presidents shows how much wealth one can accumulate while in office.
Obama had personal assets of only $1.3 million when he became president in 2008, and by the time he left office in 2017, his personal assets had risen to $40 million, a 30-fold increase.
Old Bush had personal assets of about $8 million when he took office in 2000, and by the time he left in 2008, his personal assets had grown to $15 million. Look at that; being a president really increased his wealth. If it were you, would you be willing to become a U.S. president just to fatten your wallet a bit?
Of course, Trump is even more impressive in this regard; before entering politics, he had personal assets of about $3 billion, and during his term, it skyrocketed to $4 billion. Now it's estimated to have increased even more.
Then there's Biden, who had personal assets of about $9 million when he became president in 2020, and he is now steadily approaching $20 million. Eisenhower, when he left office, had nearly $8 million from $20 million back in the day.
These presidents clearly regarded increasing their wealth as a priority, making accumulation their primary task. The presidential term is indeed a great opportunity for wealth growth. However, there are risks; if you think about crossing the line to make a big score, that could be dangerous. Once your reputation is tarnished, no matter how much money you earn, it could all disappear, and your reputation would collapse along with it.