RSS Feed MenuThe Nobel Committee has created a pretty little problem for White House counsel Greg Craig this morning. The value of the gift is $1.4 million. Technically, it’s a “Foreign Official Gift,” so it has to be retained by the U.S. government. Donating the money to charity will be very difficult, because first the gift will have to pass through the president’s hands -and the law requires that he must spend $1.4 million of his own money to buy the $1.4 million from the U.S. government.
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Who Gets the Prize Money?
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A prize that will cost Obama | Newpapers Collected // Oct 9, 2009 at 1:02 pm
[...] Majority points out another reason why Obama should have politely told the Nobel Peace prize committee that he would [...]
Headache for the White House: who gets the Nobel Prize money? | The Empire Chronicles // Oct 9, 2009 at 1:07 pm
[...] Since the Nobel Peace Prize is worth about $1.4 (£899,000) and it’s a “Foreign Official Gift”, the money has to be retained by the US Government, New Majority reports. [...]
Kevin B // Oct 10, 2009 at 1:40 pm
I suppose he could refuse the money (though not the prize), and request that the Nobel committee give the money to whatever charity Obama would have chosen to begin with.