Obama earns 3 times more than Putin

Presidents of the United States were never thought to make a lot of money in office when compared to the influence and power they exert.

As it turns out, this is exactly the case. President Barack Obama does not earn anything close to the compensations that top CEO around the world take home.

In a posting on the White House website, income tax returns showed that Obama earned $481,098 last year, 21 percent less than the previous year.

The reduction in income is attributed to the termination of royalties from Obama’s book which added to his annual salary of about $400,000.

This reported income is the lowest since the Obama was a freshman senator in 2004.

The reduced earnings may come as a consolation since reports from the Kremlin revealed that Russian President Vladimir Putin made no more than $175,000.

Surprisingly, the amount is considerably lower that what most elite bureaucrats in ministerial posts make in Russia.

The posting on the internet by the Kremlin did indicate that Putin owns three Russian-made vehicles and a tiny apartment measuring 77 square meters.