Do you want to know the worth of the first African American President, Barack Obama who is the 44th President and former Illinois Senator of the United States? Continue reading to learn more about Barack Obama Net worth.
He was the only president to be at war for the entire period of his presidential campaign, regardless of winning the Nobel Prize for Peace in 2009. Barack has a reputation for being a well-expressed statesman. His ability to captivate his audience on stage led to him being one of the most expressive presidents in the country’s history.
Before the presidency, Obama wasn’t particularly wealthy. Nevertheless, once the Illinois senator set his sights on the White House, his luck began to grow accordingly.
He has an estimated net worth of $40 million, excluding the $1.4 million in Nobel Prize money he donated to charity and his primary home. He also earned over US$3.3 million in book royalties for Dreams of My Father. From philanthropic efforts to vacationing where the sun shines to making long-term investments in his daughters’ education. That’s the way Obama spend his wealth.
“If you’re walking down the right path and you’re willing to keep walking, eventually you’ll make progress”.
Profile
| Name | Barack Hussein Obama II |
| D.O.B | August 4, 1961 |
| Place of birth | Honolulu, Hawaii, United States |
| Age | 61 |
| Zodiac sign | Leo |
| Height | 6′ 1″ |
| Weight | 176 lbs |
| Marital status | Married(Michelle Robinson) |
| Profession | Presidential pension, Books, and Netflix deals |
| Children | Malia Ann and Natasha |
Early Stage
Obama lived one year of his childhood in Washington State. At 6, after his parents, Ann Dunham and Barack Obama Sr separated, his father moved to Kenya in 1964. In 1965, his mother tied again with Lolo Soetoro, and they moved to Indonesia for four years. Barack has several half-siblings from both his mother and his Father.
Obama returned to Honolulu to live with his maternal grandparents in 1971. Then, he pursued his studies and graduated from Punahou School in 1979. In those years, he managed the social perceptions of his multicultural legacy.
Education
After graduating from high school, Barack shifted to Los Angeles to attend Occidental College, where he earned a full scholarship.
In 1981 he transferred to Columbia University, earning a political science degree specializing in international relations. From Columbia University, he graduated in 1983.
Obama worked as a financial researcher for Business International Corporation for one year, followed by a stint as a project coordinator for several New York non-profits.
In 1985 Barack moved to Chicago after being hired to work as a director for a non-profit called the Developing Communities Project. He worked there from 1985 to 1988.
In 1988 Obama enrolled Harvard Law School, where he graduated in 1991. While at Harvard, he was the president of the Harvard Law appraisal. During the summers, he returned to Chicago and continued working as a community organizer.
Career – From Teaching to Presidency
- Obama then graduated and worked as a civil rights attorney in Chicago.
- He educated constitutional law at the University of Chicago Law School for twelve years. Initially, he worked as a lecturer from 1992-1996, then as a senior lecturer till 2004.
- While working for the university, he also joined Miner Barnhill and Galland, a large firm where he specialized in civil rights litigation.
- In 2005 Obama, by winning 70% of the vote in the 2004 general election, became the Illinois state senator; as senator Obama co-sponsored two proposals, Secure America and the Orderly Immigration Act. By delayed 2006 – early 2007, he began started to prepare for his presidential campaign.
- In 2009, Barack Obama was under oath as the 44th United States President, serving two terms until 2017. He had ordered the closing of Guantanamo Bay within his first 100 days in office.
- The first bill Obama assigned the law was the Lilly Ledbetter Fair Pay act of 2009, which served to change the statute of limitations for equal-pay lawsuits.
- During the presidency, Obama made sure and supported further laws for LGBTQ rights. That includes a crime prevention act for the legalization of same-sex marriage.
- In the oval office, his final day included 330 commutations for non-violent drug offenders and commutations for well over fifteen hundred others, including Chelsea Manning.
Net worth
Obama has an accumulated asset of $70 million in part due to earning $400,000 a year throughout his eight-year term as president of the United States.
On April 15, 2016, Obama released his 2015 tax returns, illustrating the former president and Michelle Obama mutual filed with gross earnings of $436,065. According to their 18.7% tax rate, they paid $81,472 in taxes. They also contributed a total of $64,066 to more than 30 charities.
Income Timeline as President
Here’s a complete history of his earnings as president and senator over the years:
- In 2016-2017, according to Newsweek, Obama’s annual pension after leaving the White House was more than $200,000.
- From 2009- 2016, the Annual salary as President of the United States was $400,000.
- The estimated amount earned was $1,500,000 as a pension per year in 2015.
- In 2015, Amount donated to different charitable institutions during his term as President of the United States was $1,200,000.
- From 1997- 2004, as Senator of the United States was $162,000.
Additional Sources of Income
The estimated worth is given below that Obama received from books, public speaking, and media projects. Even after leaving the White House, they have made even more money from book advances and are both highly sought-after public speakers.
Barack Obama Net Worth-Book Royalties
- 2004: He earned $32,144 from the University of Chicago Law School, where he lectured. Obama also had funds in three different possessions, including the Vanguard Wellington Fund which evaluated between $100,000 and $200,000.
- In 2005, Obama received a multi-book deal with Random House and was given a $1.9 million advance after January 2005 for “The Audacity of Hope,” plus royalties, following his appearance at the 2004 Democratic National Convention.
- In 2005, he also received over $847,000.The following year, another book advance for “Dreams From My Father,” with $378,237 from additional book royalties.
- In 2006, Obama reported book royalties for “Dreams From My Father” of less than $150,000, in addition to $425,000 from royalties for “The Audacity of Hope.”
- 2007: Obama earned almost $3.3 million from Random House book royalties and almost $816,000 from Dystel & Goderich for “Dreams From My Father.” He acquired U.S. Treasury notes valued between $500,000 and $1 million, and he invested in two 529 college savings plans which valued at between $50,000 and $100,000 each to start for his daughters.
- The earnings from books in 2013, The Audacity of Hope (2006) and Dreams from my Father (2008), was $273,000.
Barack Obama Net Worth through Netflix Deal
Obama is gearing up to raise his withdrawal and influence as a producer. He and his better half signed a treaty with Netflix to produce films in 2018.
Michelle Obama said in the official announcement, “Barack and I have always believed in the power of storytelling to inspire us.”
Netflix did not unveil the financial details; However, The New York Times reported that deals had been valued at tens of millions over several years.
Speaking Charges
Several presidents established foundations and enjoyed money-spinning second careers as in-demand speakers and authors, and Obama is as all the rage as ever.
The former president delivered a speech at a healthcare conference in September 2017 arranged by the trading and investment firm Cantor Fitzgerald, according to The New York Times. He charges for that event were reported to be $400,000.
According to a good source, Obama could make about 50 speeches annually, earning “a conservative $200,000” per speech.
Net Worth of Real States of Barak Obama
Obama and Michelle’s accommodations are located in the posh Kalorama locality. According to CNBC, Obama purchased the house for $8.1 million. They also kept their Chicago home in the momentous Hyde Park vicinity. In August 2000, Barack and Michelle purchased a home in Kenwood, Illinois, in the Chicago borders.
Obama is the only ex-president in nearly 100 years to stay in Washington, D.C. He and the family rented in town so his youngest daughter, Sasha, could finish high school. In June 2017, Obama and Michelle spent $8.1 million to purchase the 8,200-square-foot rental.
In August 2019, it was reported that Obama was in escrow on a $14.9 million property on Martha’s Vineyard. It consists of seven bedrooms, two guest wings, and an outdoor swimming pool. It sits on a sprawling 29-acre estate with beautiful sea views and has a private beach and boathouse.
Accolades
| Year | Award | Category |
| 2009 | Nobel Peace Prize | Norwegian Nobel Committee |
| 2009 | First African-American president of the USA | Guinness World Record |
| 2012 | Time Person of the Year | TIME magazine |
| 2014 | “Ambassador of Humanity” award | The Shoah Foundation Institute for Visual History and Education at the University of Southern California |
| 2021 | Tribute to International Women’s Day | Aisppd Onlus Medal Award at the IX International Day of Awareness and Prevention of Women’s Diseases |
| 2022 | Emmy Award for Outstanding Narrator (Our Great National Parks) | Television Academy |
The Obama Foundation
Obama hosted the inaugural summit of the Obama Foundation in Chicago from October 31 to November 1, 2017. He intends for the foundation to be the central focus of his post-presidency and part of his ambitions for his subsequent activities following his presidency to be more consequential than his time in office.
In 2019, Barack and Michelle Obama bought a home on Martha’s Vineyard from Wyc Grousbeck. On October 29, 2019, Obama criticized “wokeness” and call-out culture at the Obama Foundation’s annual summit.