Barack Obama, the 44th President of the United States, has not only left an indelible mark on American politics but has also become a significant figure in discussions about wealth and net worth. Since leaving the presidency, Obama has embarked on a multifaceted career, including book deals, public speaking engagements, and philanthropic endeavors.
His journey from a community organizer to the pinnacle of political power and financial success is a testament to his charisma and influence. In this article, we examine the net worth of Barack Obama, shedding light on his post-presidential financial endeavors and the factors contributing to his considerable wealth.
Barack Obama Net Worth in 2023
According to Celebrity Net Worth, President Barack Obama of the United States has an estimated net worth of $70 million. That’s how much wealth he and Michelle Obama have amassed together. When Barack and Michelle Obama were adults, they had little money. Upon Barack’s rise to political prominence in 2005, book revenues helped the couple quickly amass a million dollars.
A native of Illinois, he served in the Senate before becoming the 44th President of the United States. President Obama was the first African American to hold the President of the United States office.
Barack Obama Early life and Education
Barack Hussein Obama II was born on August 4, 1961, and he and his mother raised their family in Honolulu for most of his childhood. Barack’s father relocated to Kenya after the divorce of his parents in 1964.
Obama’s mother remarried in 1965, and the family moved to Indonesia for four years. Obama spent the first year of his life in Washington State. In 1971, Barack moved back and lived with his grandparents in Honolulu.
After graduating from Punahou School in 1979, Barack Hussein Obama II moved to Los Angeles to study at Occidental College. In 1981, after finishing his first two years there, he transferred to Columbia University in New York. He earned his undergraduate degree from Columbia in 1983 and his law degree from Harvard in 1991.
Barack spent 12 years as a professor at the University of Chicago Law School after finishing his education at Harvard. From 1992 until 1996, Barack worked as a lecturer and became a senior lecturer at Chicago University.
Property Owned by the Obamas
It’s safe to say that the Obamas aren’t like most Americans regarding property ownership. The former President and First Lady of the United States own several properties, including mansions in Hawaii, New York, Chicago, and Washington, D.C.
In 2005, Barack and Michelle Obama spent $1.65 million on a modest condo in Chicago’s Hyde Park neighbourhood.
In 2009, they moved to the White House, so their stay there was brief. They spent $8.1 million on a mansion in Kalorama, a suburb of Washington, DC, that spans 8,200 square feet 2017. The Obamas spent $11.75 million in 2019 to buy a second house, a holiday property on Martha’s Vineyard.
And lastly, they own a portion of an Upper West Side Manhattan condo development worth more than $35 million. They’ve come a long way from their humble beginnings as a pair.
Obamas’ Philanthropy Works
President Obama is no slouch when it comes to charitable giving. Over the years, he has donated millions to charity, and his foundation, the Obama Foundation, has raised hundreds of millions more.
In addition to the Boys & Girls Clubs of America, the Clinton Foundation, the African Leadership Academy, and the My Brother’s Keeper Alliance, Barack Obama has donated to numerous more organizations.
Obama has also contributed to organizations improving education, health care, and disaster relief. Obama’s charitable giving has established him as one of politics’ most selfless figures. He has influenced millions of individuals all around the world with the help of his platform.
Barack Obama Sources of Income
The Obamas are worth a combined $135 million, according to a recent piece in Forbes. They make the most of their money through speaking engagements and book sales. Since leaving office, the couple has made millions through book agreements and speaking engagements.
In 1995, Barack Obama released his debut book, Dreams from My Father, quickly becoming a New York Times bestseller. His subsequent works include The Audacity of Hope (2006) and A Promised Land (2020). The Obamas have reportedly made $15 million from these three books alone.
The Obamas have made millions more from speeches and appearances than from their books. The Obamas’ anticipated speaking fees are as follows: Barack Obama $200,000 to $400,000; Michelle Obama $100,000 to $250,000. The Obamas made $500,000 for delivering a keynote talk at the 2018 AIA Conference on Architecture in New York City.
They reportedly struck a $65 million book contract with Penguin Random House shortly after leaving office. In addition to their lucrative speaking engagements, they have secured a multi-year contract with Netflix to create original content for the streaming site. Not much is known about the deal other than that it’s worth roughly $50 million.
Now you see the value. After leaving the White House, the Obamas have done quite well for themselves. There has been a considerable increase in their wealth since Barack Obama became President in 2009, when their estimated net worth was only $1.3 million.
Also Read
Barack Obama Books
1. Dream from my father – Story of race and inheritance
Obama published his autobiography in 1995. He was highly praised because of his book. This book was published in 25 languages and later its Second Edition was published in 2004. The audio album of this book was also launched which was narrated by Barack Obama himself. It also received a Grammy award.
2. The audacity of hope
The vision about his America were written in this book. In a short time, this book became the best selling book on the Amazon and New York Times.
Summary
Obama is one of the most iconic American presidents since he brought about significant change over his two terms in office. Now in his late 50s, Obama is still making an impact through political campaigning in the form of invited speaking engagements.
The Obamas also started a charitable organization when they left the White House. Barack Obama had a net worth of about $70 million in 2023.
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