Barack Obama makes the coolest presidential exit ever with an epic mic drop

Barack Obama had bowed out in the most epic way, ending his final White House Correspondents Dinner with a mic drop.

Addressing guests in what would be his last appearance at the event as the serving president, Obama spoke of his seven-plus years in office, joked about his meeting with the British royals and roasted Donald Trump.

He concluded his speech saying: "I just have two more words to say: 'Obama out'," before holding his microphone out in front of him and dropping it.

Obama was in an ebullient mood during the dinner and drew laughs from the ballroom filled with journalists, politicians and celebrities.

He said: "Here we are, my eighth and final appearance at this unique event and I am excited. If this material works well, I'm going to use it at Goldman Sachs next year."

"Earn me some serious Tubmans," he added, in reference to African-American abolitionist Harriet Tubman who it was announced last month would become the first black person to appear on US currency.

Obama continued: "Eight years ago I said it was time to change the tone of our politics. In hindsight, I clearly should have been more specific."

And he acknowledged that the years had taken their toll saying: "I'm grey, grizzled ... counting down the days to my death panel."

"The last time I was this high I was trying to decide on my major," he said, pointing out that his approval ratings are up.

Obama at the White House Correspondents' Dinner
(Susan Walsh/AP/PA)

When he said he could not explain his rise in popularity, two photographs of Republican presidential nomination candidates Donald Trump and Ted Cruz appeared on ballroom screens.

Obama took a few more swipes at the presidential race saying, and with a nod to Hillary Clinton, said: "Next year at this time someone else will be standing here in this very spot, and it's anyone's guess who she will be."

After calling 74-year-old Democratic presidential candidate Sanders the "bright new face" of the Democratic Party, Obama compared his campaign slogan "Feel the Bern" with the one he claimed was rival Hillary Clinton's - "Trudge Up the Hill".

Obama at the White House Correspondents' Dinner
(Susan Walsh/AP/PA)

And if you thought Trump, who was absent from the White House Correspondents' Dinner, had escaped Obama's satirical firing line, you'd be wrong.

Watched by Trump's sons, Obama said of the Republican presidential hopeful: "He has spent years meeting with leaders from around the world - Miss Sweden, Miss Argentina, Miss Azerbaijan."

He added: "And there's one area where Donald's experience could be invaluable, and that's closing Guantanamo - because Trump knows a thing or two about running waterfront properties into the ground."

Obama at the White House Correspondents' Dinner
(Susan Walsh/AP/PA)

Obama spoke of his trip to London last week in which he rubbed shoulders with the royals, including Prince George who was allowed to stay up late on the evening the Obamas visited Kensington Palace.

Speaking of his encounter with the young prince, the president joked: "Last week Prince George showed up to our meeting in his bath robe. That was a slap in the face. A clear breach of protocol."

On a more serious note, the president thanked the White House press corps and praised a free press, before the epic mic drop.

A tongue-in-cheek video tribute to Obama's seven-plus years in office was played before his speech containing highlights of verbal gaffes including his his reference to "57 states" and misspelling of "rspect".

Emma Watson and Damian Lewis at the White House Correspondents' Dinner
(Susan Walsh/AP/PA)

The Washington Hilton ballroom was packed with famous faces. From the world of politics there was vice president Joe Biden, secretary of state John Kerry, Republican Party chairman Reince Priebus, former House speaker Newt Gingrich and ex-New York mayor Michael Bloomberg.

And from showbiz, Helen Mirren, Jared Leto, Bryan Cranston, Will Smith, Emma Watson, Damian Lewis, Jeff Goldblum, Rachel McAdams and Tom Hiddleston were in attendance.

Proceeds from the dinner go toward journalism scholarships and reporting awards.

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