What is Barack Obama’s Net Worth ?
| Net Worth: |
$70 Million
|
|---|---|
| Birth: | August 4, 1961 |
| Age: | 62 |
| Height: | 1.85 m (6 ft) |
| Source of Wealth: | Politician, Writer, Author, Law professor |
| Nationality: | USA |
| Twitter: | @barackobama |
| Last updated: | 2023 |
Introduction
Barack Obama is a name known to millions around the world. As the first Black president of the United States, Obama left an indelible mark on American political and social life during his two terms in the Oval Office. His rousing speeches, heartfelt messages, and charismatic personality still inspire people today. However, there is one question that many people ask about Barack Obama: what is his net worth?
Like many high-profile individuals, Obama’s net worth is a topic of interest to many people. While he has not disclosed his personal financial information, we can make some educated guesses about his net worth based on his presidency, various book deals, and speaking engagements. In this article, we’ll examine Barack Obama’s early life, personal life, and spending habits, as well as his current estimated net worth.
Early Life
Barack Hussein Obama II was born on August 4, 1961, in Honolulu, Hawaii. He is special because he is the only US President who was born outside of the contiguous 48 states.
Obama’s mother, Ann Dunham, was of English, German, Swiss, Scottish, Irish, and Welsh descent. Ann met Barack Obama Sr. in a Russian language class at the University of Hawaii Manio in 1960 where he had earned a scholarship. Barack Sr. was from Kenya, and he was already married at the time. However, Barack and Ann got married in 1961, and Barack Jr. was born six months later.
Sadly, Barack Sr. and Ann got divorced in 1964, and he went back to Kenya where he married again. Barack Sr. only visited Barack Jr. once when he was nine years old. Sadly, Barack Obama Sr. died in a car accident in 1982 when Barack Jr. was 21.
In 1965, Ann married an Indonesian man named Lolo Soetoro, and they moved to Indonesia in 1967. However, Barack Jr. moved back to Honolulu in 1971 to live with his mother’s parents and finish high school. Ann and Lolo got divorced in 1980, and Ann died from cancer in 1995.
Adolescence
After finishing high school, Barack moved to Los Angeles to attend Occidental College with a full scholarship. Later, in 1981, he transferred to Columbia University, where he graduated with a degree in political science and international relations in 1983. He worked at Business International Corporation and then several non-profits in New York.
In 1985, Obama moved to Chicago and worked for the Developing Communities Project, a non-profit organization. He then traveled the world for two months in 1988, visiting Kenya and his relatives. Later that fall, he enrolled at Harvard Law School and became the president of the Harvard Law Review. During summers, he continued working as a community organizer in Chicago. After graduating, he worked as a civil rights attorney in Chicago and taught constitutional law at the University of Chicago Law School from 1992 to 2004.
Personal Life
In 1992, Obama married Michelle Robinson, a fellow Harvard law student whom he had met while working at a Chicago law firm. Michelle Obama would later become First Lady of the United States during her husband’s two terms in office. The couple has two daughters, Malia and Sasha.
Obama is known for his love of sports, particularly basketball. He also enjoys reading and has mentioned his love of science fiction and fantasy novels. Obama is an avid music fan and has shared his love for artists such as Stevie Wonder, Bob Dylan, and Beyoncé.
Estimated Net Worth
Barack Obama didn’t make much money between 1991 and 2004, only earning less than $30,000 for his job as a professor and state representative. Instead, the family’s main source of income came from Michelle’s job as a lawyer for the University of Chicago hospital system.
But things changed in 2005 when Barack became a US Senator and earned $157,100. Michelle also had a successful year, earning $273,618. Their total income that year was $1.65 million, which was much more than what they had earned before.
So where did the extra $1.2 million come from? Well, in 1995, Barack wrote his first book called “Dreams from My Father: A Story of Race and Inheritance”. At first, it didn’t sell well, but after Barack’s 2004 speech at the Democratic National Convention, the book became really popular. This meant that the Obama family got a lot of money in royalties in 2005.
In 2006, the Obamas earned $916,000, and things got even better when Barack’s second book “Audacity of Hope” came out in October of that year. The book was a big hit and made millions of dollars, which boosted the Obama family income to $4.2 million in 2007. Their income continued to grow after Barack’s successful presidential campaign and election in 2008. Even today, Barack still earns money from book sales, getting $3.75 for every hardcover copy and $1.12 for every paperback copy sold. The royalties remained healthy in 2008, 2009, and 2010.
Actually, Barack Obama’s net worth is estimated to be around 70 Million.
Philanthropy
Former President Barack Obama has been actively involved in philanthropy and has donated millions of dollars to various charitable causes. His foundation, the Obama Foundation, has raised hundreds of millions of dollars to support charitable initiatives.
Barack Obama has donated generously to organizations like the Boys & Girls Clubs of America, the Clinton Foundation, the African Leadership Academy, and the My Brother’s Keeper Alliance. He has also contributed to education initiatives, healthcare reform, and disaster relief efforts.
Barack Obama’s philanthropy demonstrates his generosity and his commitment to making a positive impact in the world. He has used his influence and platform to support numerous causes and make a difference in the lives of millions of people globally.
Frequently Ask Questions About Barack Obama
Is Barack Obama a millionaire?
Yes, it is believed that Obama’s net worth is somewhere between $40 and $70 million.
How much did Barack and Michelle Obama earn from their book deals?
The Obamas were reported to receive a payment of $65 million for the rights to their memoirs.
What is Barack Obama’s salary?
During his presidency, Obama’s salary was $400,000 per year.
How much does Barack Obama earn from speaking engagements?
In 2017, he reportedly earned $400,000 for a speech to a Wall Street firm.
What are Barack Obama’s hobbies?
Obama is known for his love of basketball, reading, and music (particularly soul, jazz, and hip-hop).
How tall is Barack Obama ?
Barack Obama is approximately 6 ft (1.85 m) tall.
