Barack and Michelle Obama had no more than $1.3 million in net worth when Barack entered the White House as the 44th President of the United States. However, it is interesting to note that fairly reliable sources now estimate them to be worth around $40 million, which is a notable increase over the course of a decade or so.
In short, Obama was born in Hawaii to a white mother and a black father, who met when they shared a class on the Russian language at the University of Hawaii at Manoa. Later, he lived for a time in Indonesia because his mother married an Indonesian graduate student, which is why Obama was able to speak Indonesian fluently when he was still a child. Eventually, Obama went to live with her maternal grandparents in Honolulu for the sake of high school, while her mother spent most of her time in Indonesia due to her fieldwork as an anthropologist.
| NET WORTH | $40 MILLION |
|---|---|
| Name | Barack Hussein Obama II |
| Age | 58 |
| Born | Honolulu, Hawaii |
| Birthdate | August 4, 1961 |
| Richness’ fountain | American lawyer and politician |
| Country | USA |
How did Barack Obama arrive at his current net worth?
After graduating from high school, Obama studied at Occidental College and then Columbia University before continuing his law studies at Harvard Law School. Over time, he went on to teach constitutional law, was involved in community organizing, was elected to the Illinois Senate, and was later elected to the United States Senate. In 2008, Obama was able to beat Hilary Clinton in the Democratic Party presidential nominations before beating John McCain in the US presidential election, making history for a number of reasons.
Regardless, the Obamas are estimated to have earned a combined $20.5 million from 2005 to 2016. Part of this sum came from the Obamas’ two salaries. However, the remainder is believed to have come from book royalties, which saw a natural increase due to Obama’s status as President of the United States, as well as earnings from Obama’s investments. However, the fact that the Obamas are now believed to be worth $40 million should make it abundantly clear that they have been very busy since Obama’s last term came to an end.
For example, both Obamas have signed book deals of late, believed to be worth at least $60 million. This is particularly notable because book income has proven to be Obama’s biggest source of income thus far, which means these book deals promise to make his and his wife’s net worth grow even higher. In addition to this, it’s important to note that the Obamas have also signed a production deal with Netflix. Exact financial figures for the production deal have not been released, but if other production deals are any indication, they could be measured in the tens of millions. On top of this, it should come as no surprise to learn that Obama is in high demand to speak at a wide range of events, so much so that some sources believe he could have earned as much as $400,000 in public speaking fees since then. his departure from the office of the President of the United States.
In short, the source of the Obamas’ current net worth isn’t exactly a mystery. Part of it comes from their salaries and part from what they have earned from their investments. However, much of it comes from Obama’s book deals, which have proven highly lucrative. Something that is not surprising at all considering the interest in the perspective of the presidents of the United States. On top of this, Obama’s recent deals make it abundantly clear that his net worth will continue to rise for the foreseeable future.
What is Barack Obama’s net worth?
Barack Obama’s Net worth is estimated to be around $70 million.
final thoughts
The Obamas are currently believed to have a net worth of $40 million. However, there are estimates that they could earn as much as $242 million over the course of their entire lifetime after the presidency. Because of this, while his net worth stands at $40 million at the moment, it seems safe to say that it won’t hold true for any particularly long period of time. Something that’s particularly likely because they seem to have been thinking long term when it comes to their finances, which doesn’t exactly suggest they’re the type of people prone to reckless spending.