The former President of the US, Barack Obama’s net worth is nearly $12.2 Million, earning a whopping amount of $400,000 per annum during his Presidential status of 8 years. The Obamas together are estimated to be worth $40 million.
His Early Life
Obama was born on August 4, 1961, in Hawaii. He did his schooling from Indonesia and completed his high school from his hometown in Hawaii. Obama has always been the smart and intellectual person we all know him to be having completed his degree from Harvard University, the most prestigious universities in the whole world.
After graduating from Harvard, Barack became a civil rights lawyer in a firm in Chicago where he met his wife, Michelle Obama. They have two young girls Malia and Sasha. Malia Obama is currently pursuing her course from Harvard University while Sasha is completing her high school.
- Suggested Read – What is Jim Brown’s Net Worth?
Earnings that add to Barack Obama’s Net Worth
Books and titles
Obama is also an author and has written many books which have earned him a total of $10 million and will see him earn more than $60 million in the coming years. Some of his famous books are:
- ‘The audacity of hope’ for which he earned an advance of $1.9 million in 2005 and which sold 4.6 million copies at $9.99 each
- He earned $3.3 million from Random House and $816,000 from Dystel and Goderich Literary management as book royalties in 2007
- His books ‘Dreams from my father’ and ‘Of thee I sing: A letter to my daughters’ saw him earn royalties between $35000 and $115,000
Property and Vehicles
- In 2005, the Obamas became proud owners of 6200 square feet, 6-bathroom, three fireplaces, a house in Hyde Park, Chicago costing $1.65 million
- After leaving the White House, the Obamas moved to Kalorama, Washington DC to allow their youngest daughter to finish her schooling from the one she started in. The 8,200 square feet mansion cost them $8.1 million
- His first vehicle was a 2000 Jeep Grand Cherokee and then a Chrysler 300C
- After becoming President, he was driven in a Limo called the beast
- He also owns a Ford Escape Hybrid
Earnings from his job as Senator and the White House
- At 43 years of age, Obama earned $85000 per annum as a law professor
- As a Senator, he earned $610,000 in his service years
- An amount of $90,000 was given towards pension for his service at the State of Illinois
- He earned $1.5 million per year as pension each year that he was in office
- As a President, he was also given allowances for expenses, travel and entertainment amounting to a total of $170,000
- Obama’s net worth saw growth from $300,002 in 2004 when he was a member of Illinois to $463,1002 in 2005 and gradually increased to his current net worth
- As of 2018, His net worth comes from two factors: 1. From his political career and 2. Money from his three books
- Obama earned an approximate of $9.6 million from his presidential service alone
The 44th President of the United States of America has won a number of awards for his amazing personality and his contribution towards making this world a better place.
- In 2009, Barrack Obama won the Noble Peace Prize, the most prestigious awards in the history of awards
- Time awarded him with ‘Time’s Person of the Year’ in 2008 and 2012
- He also won the Grammy Award for the Best-Spoken Word Album for ‘The Audacity of Hope’ in 2006 and 2008
- In 2013, Obama won the NME award for the Hero of the year
Obama is known for his contribution towards the betterment of the US and the world as a whole. He stands for world peace and has a reputation of one the most loved President.
- He has donated a total $64,066 towards more than 30 charities
- Having won the Nobel Peace Prize and with it $1.4 million, Obama donated the amount to various charities
- He also returned 5 percent of his earning towards the treasury
- Obama donated a part of his income to an NGO that helps retired military people named Fisher House Foundation
- The proceeds that were received from the sale of Obama’s book ‘Of thee, I sing’ was donated towards disabled veterans and family of fallen soldiers
- Obama gave a speech at a charity event for girls in Omaha and helped raise $154,000
- The former President never backed out of social work and has dedicated his time and efforts by attending charity events, giving speeches, interacting with the youth and help raise lots of money
- When Obama gave his final budget for the US in 2017, he put in a lot of opportunities for young social workers, setting aside a $1.8 billion for ten years
Being the first African American ever to be the President of the US and one who was born outside the continent, Obama has been one to inspire people around the world through his strong speeches and every effort to better the lives of people all around the world. He will always be one of our ‘Favourite Presidents’. Here’s a speech we will never forget:
Although Barack Obama’s net worth has seen quite a downfall since he left office, we’re sure that the respect he has earned is much more than what can be valued in money.