Wealth and Philanthropy
How Much is Barack Obama Worth?
The former President of the US, Barack Obama has built up a substantial net worth since leaving office. This includes a healthy salary, as well as book royalties and investment income.
He is a graduate of Columbia University and earned his JD from Harvard Law School. He also taught constitutional law at the University of Chicago for 12 years.
1. Presidential salary
Before becoming president Obama was a successful businessman and college professor. He likely saved money from his salary and invested it wisely. He then became a senator, where he continued to save and invest his income. When he entered the presidential race, he had a net worth of approximately $4.6 million, according to Business Insider.
While he was in office, he earned the standard presidential salary of $400,000. After leaving office, his wealth increased even further through book deals, speaking engagements, and other business endeavors.
He and his wife Michelle signed multiple book deals that have made them both extremely rich. His latest memoir, A Promised Land, was a best-seller and reportedly sold over 890,000 copies within a day of its release. The former president has also landed multiple television and Netflix deals. He and his wife also have a large collection of art, which is an additional source of income. Philanthropy is another significant part of the Obamas’ wealth. They have donated to numerous organizations, including the Boys & Girls Clubs of America and the Clinton Foundation.
2. Book royalties
When it comes to a president’s net worth, book royalties are one of the biggest sources. The former president’s books have sold millions of copies, making him a very wealthy man. In addition to his publishing earnings, Obama also receives substantial speaking fees and has a lucrative media deal with Netflix.
The hefty publisher advance for his memoirs was reported by the Financial Times in late September, but it’s not clear how much he and Michelle are making per book. It is known that the couple made a multimillion-dollar deal with Penguin Random House for the worldwide rights to their books.
They’ve also teamed up with Higher Ground Productions, which has already produced documentaries like American Factory and Crip Camp, as well as the Netflix series Becoming. The company has a multiyear contract to produce scripted and unscripted television and films. Higher Ground will earn royalties on each episode and the couple will receive a share of profits from international sales.
3. Investments
In addition to his book royalties and speaking fees, President Obama is a successful investor. He has several financial funds that passively grow his assets, and he also holds United States Treasury notes and bills.
During his time as President, Obama passed many acts that help individuals and families achieve their dreams. This includes programs and scholarships to help people become more financially independent, as well as affordable healthcare. This is why he’s been able to amass such a large sum of wealth.
Since leaving office, Obama has been very busy. He’s been writing books, traveling around the world for speaking engagements, and signing a massive Netflix deal. All of this, along with his six-figure pension, has helped him build his net worth.
Every year, Barack Obama is required to file personal financial disclosures that detail all of his assets and liabilities. These documents are a great way to see exactly how much the former president is worth.
4. Philanthropy
Throughout his career, Barack Obama has made generous charitable donations. He and Michelle both serve on the board of several non-profits and they teach in Chicago’s public schools.
Obama also commands substantial speaking fees and signed a multi-million dollar deal with Audible for his podcast, Obamanomics. The couple has also diversified their income streams with joint book deals and a new partnership with Netflix for film and television productions.
Before becoming president, Barack Obama earned his living primarily as a lawyer and community organizer. He built his net worth after joining politics, notably through lucrative book deals. In addition to his presidential salary and pension, he has continued to earn from these ventures, and interest on his investments and treasury bills. He is also believed to be a prolific philanthropist, donating millions of dollars to a wide range of causes while in office. In total, it is estimated that Obama is worth $70 million. He is younger than most of his political counterparts, so it’s likely his net worth will continue to grow.