It has been over four years since former President Barack Obama was in office. During his tenure he earned the standard $400,000 that Business Insider reports every commander-in-chief receives. But, his different endeavors after leaving the office in 2016 has fetched me as much as an amassing wealth of $70 million net worth.
Before assuming office of United States presidency in 2008, he made about $165,000 a year as a senator of Illinois, according to NBC News.At that time, he published several books and took off as an author, making profits of over $500,000 from author fees just in 2006. Years before running for president, his combined income with his wife Michelle Obama, who at the time worked at the University of Chicago Medical Center, was $1.6 million.
While in office, a president has a $50,000 annual expense account, $100,000 nontaxable travel account, and $19,000 for entertainment, in addition to their $400,000 salary, according to Business Insider.
The erstwhile president now earns a $200,000 annual pension, reports Money.
However, bulk of Obama’s income comes from his book royalties and speaking engagements. His latest memoir “A Promised Land” reportedly sold an amazing 890,000 within one day of its November release. Business Insider reports from 2005 to 2016, he made $15.6 million in book advances and sales.
Also, he was reportedly paid $800,000 for two speeches and at least $2 million for three talks in 2017, according to Business Insider. In 2018, he and Michelle Obama signed an estimated $50 million production deal with Netflix.
Summarily, in totality with Michelle Obamas’ earnings from book deals, tours, speaking engagements, movie productions, etc. the Obama’s are estimated to make almost $250 million in their post-presidency careers.
