Barack Obama’s financial success has persisted even after he left the White House. Promised Land” was released in November 2020, and by December 2020, it had sold 3.3 million copies, making it one of the best-selling political memoirs of all time, according to Nielsen BookScan. Obama’s memoir was a huge hit, but he and his ex-wife, Michelle, also inked a hefty Netflix contract in 2018.
Ex-net president’s worth was estimated by Celebrity Net Worth at $70 million. Barack and Michelle Obama’s post-presidential earnings could reach $242.5 million according to an estimate by American University’s business analytics program Analytics@American.
Net worth: $70 million
Date of birth: Aug. 4, 1961
Primary sources of wealth: Presidential salary and pension, book, and Netflix deals
Career highlights: Former president, Nobel Peace Prize
Barack Obama’s Net Worth: $70 Million
According to Celebrity Net Worth, Obama has an estimated net worth of $70 million, in part because he earned $400,000 a year as president of the United States for eight years.
Former President Obama published his 2015 tax returns on April 15, 2016, which indicated that Obama filed together and recorded an adjusted gross income of $436,065 for the previous year. It cost them $81,472 in taxes because of their tax rate of 18.7 percent. Additionally, they contributed a total of $64,066 to more than 30 different organizations.
A Timeline of Barack Obama’s Wealth
We want to know how he made his money. Business Insider has compiled a timeline of his accomplishments that have boosted his earnings throughout the years:
From the Illinois Senate he received a salary of $80,287 and from the University of Chicago Law School, where he lectured, $32,144, in 2004: In addition to the Vanguard Wellington Fund, Obama held three other assets worth between $100,000 and $200,000 in his financial portfolio.
As a result of Obama’s participation at the 2004 Democratic National Convention, Random House signed him to a multi-book deal and paid him $1.9 million in advance and royalties for “The Audacity of Hope,” which was released in January 2005.
In addition, he received a book advance for “Dreams from My Father” in the amount of $847,000, as well as further book royalties of $378,237.
A little less than $150,000 in book royalties from “Dreams From My Father” and $425,000 from “The Audacity of Hope” were reported by Obama in 2006.
Almost $3.3 million from Random House book royalties and over $816,000 from Dystel & Goderich for “Dreams From My Father” earned Obama in 2007. At first, he put $50,000 to $100,000 each in two 529 college savings accounts for his daughters, investing in US Treasury notes worth between $500,000 and $1 million.
In 2008, Obama had between $1.1 million and $5.1 million in U.S. Treasury bills when he was elected president.
In 2009, Obama has awarded the Nobel Peace Prize and a hefty sum of $1.4 million. He gave it to a variety of organizations.
From 2009 to 2015, Obama received an annual salary of $400,000 from his book royalties and investments.
Obama’s annual pension after leaving the White House is more than $200,000 per year, according to Newsweek. Additionally, he has been compensated up to $400,000 for his public speaking engagements.
As part of the contract, Penguin Random House agreed to publish two books by the Obamas, one authored by each member of the first family and estimated to be worth more than $65,000,000.
With the help of Netflix, the Obamas launched Higher Ground Productions in 2018.
In 2020, Barack Obama will publish “A Promised Land,” his latest book. Michelle Obama’s autobiography was also included in the historic $65 million agreement for the book.
Barack Obama’s Life Beyond the Presidency
A former president in good health, Obama has returned to his roots as an activist in his native Chicago, focusing on problems that were important to him when he served as the nation’s top executive and are still relevant now. Obama continues to raise awareness of these topics through numerous organizations, social media, speaking engagements, and his production firm.
A former president is entitled to the payment of a cabinet secretary in perpetuity under the 1958 Former Presidents Act. That’s his yearly pension of $205,700. Health insurance and 24-hour Secret Service protection till his death are also included in the package.
Aside from the Secret Service protection, Obama will also receive money to set up a business office, hire employees, and cover other relevant costs.
Barack Obama’s Netflix Deal
As a producer, Obama plans to expand his area of influence and, as a result, his fortune. In 2018, he and his wife Michelle Obama inked an agreement to develop Netflix shows and movies together.
Michelle Obama stated in the formal release, “Barack and I have long believed in the power of narrative to inspire us.”
According to the New York Times, such deals have been valued at tens of millions of dollars over several years.
At Higher Ground Productions, the Obama family has also published “American Factory,” which won an Oscar, “Becoming,” and “Crip Camp,” which has a rare 100 percent fresh rating on Rotten Tomatoes, among other titles.
Our Great National Parks, a documentary series narrated by former President Obama, premiered on Netflix last month. Forthcoming projects include a science fiction film called “Satellite,” a YA series titled “Firekeeper’s Daughter,” and many more.
Barack Obama’s Speaking Fees
Many presidents have foundations and rich second careers as sought-after speakers and authors, and the Obamas are no exception. During a healthcare conference hosted by the trading and financial firm Cantor Fitzgerald in September 2017, the former president gave a lecture.
According to reports, his compensation for that event was reported to be $400,000, which is the same amount he receives each year as president.
“A conservative $200,000” per speech is Analytics@American’s estimate for Obama’s annual speaking engagements.
Barack Obama’s Real Estate
Barack Obama is the first former president to remain in Washington, D.C., for nearly a century after stepping down from office. For his youngest daughter, Sasha, to complete high school, he and his family stayed in town. In June 2019, she will graduate.
The Kalorama neighborhood in which they live is one of the area’s more affluent ones. According to CNBC, the Obamas paid $8.1 million for the mansion. They also remained in their Hyde Park neighborhood house in Chicago.