Barack Obama: A Sneak Peek Into How United States Former President Made His Net Worth

by Duke Magazine

Former President Barack Obama is making headlines this week. According to Axios, the 44th president is planning a blow-out birthday bash at his home in Martha’s Vineyard, and is inviting all of his celebrity friends. Invitees include Steven Spielberg and the legendary rock band Pearl Jam. It goes without saying, of course, that there’s a certain contingent that believes this party is evidence of a global conspiracy by the “elites” to implant microchips. And it really goes without saying that they hate the fact that Obama isn’t sitting idle as an erstwhile president.

Obama, however, made clear that this will be an outdoor event, that guests are required to be fully vaccinated against COVID-19, and that Martha’s Vineyard is considered a “low-risk” area for coronavirus infection.

According to Celebrity Net Worth, Barack Obama has a 2021 net worth of $70 million. What is interesting about this net worth, however, is that the vast majority of it came from Obama’s post-presidency. The outlet confirms that between 1991 and 2004, Obama didn’t earn than $30,000 a year. During those years, with his wife Michelle Obama earning over $270,000/year as a Princeton-educated lawyer.

The jump in salary came after Barack Obama won his Senate nomination. When Obama became a Senator, his salary jumped to $157,100/year. In 2005, the Obamas had another jump in their salaries — to $1.65 million — thanks to Obama’s book royalties from “Dreams from My Father” and “The Audacity of Hope.” The royalties from the books jumped exponentially after Barack Obama gave an electrifying speech at the Democratic National Convention in 2004.

In February 2017, the Obamas got another bump in their net worth when both Michelle and Barack Obama were offered $60 million combined in advances for their autobiographies. Barack Obama’s autobiography, “A Promised Land,” sold nearly a million copies within 24 hours of its release. During his eight years as president, Obama received a salary of $400,000 per year or a total of $3.2 million.

Business Insider also reports that Michelle and Barack Obama also have some of their net worth tied in real estate. They paid $8.1 million for their Washington D.C. home and nearly $15 million for their Martha’s Vineyard estate.

In fact, Business Insider reports that the Obamas probably have a much higher net worth than $70 million. When fees for their speaking arrangements, a six-figure pension that all presidents receive, and their Netflix deal are all taken into account — not to mention their new business deals that seem to pop up regularly — the Obamas most likely have a net worth of $135 million.

Related Posts

Leave a Comment

WeCreativez WhatsApp Support
Our support team is here to answer your questions. Ask us anything!
? Hi, how can I help?