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What is Barack Obama’s net worth?

Introduction

Barack Obama is an American politician and former United States president with an estimated net worth of $70 Million.

He was born in Hawaii and was primarily raised by his mother. Obama is also a Harvard Law School graduate and former lecturer at the university. He won a Nobel Peace Prize in 2009 and currently remains among the few presidents to do so.

Quick Facts

• Barack Obama’s net worth is estimated to be $70 Million.
• 44th president of the United States.
• He was born in Hawaii and primarily raised by his mother
• Harvard Law School graduate and former lecturer at the university.
• Nobel Peace Prize winner (2009)
• His income mainly derives from book sales, speaking fees, and media deals with companies like Netflix.
• Along with Michelle, Barack has many philanthropic interests that inspire young people

Early Life

Barack Hussein Obama was born on August 4, 1961, in Honolulu, Hawaii, where he mainly grew up.

However, Obama spent a year of his childhood in Washington State. In 1964, his parents divorced, and his father moved to Kenya. By 1965, his mother had remarried, and they had relocated to Indonesia for four years. In 1971, Obama returned to Honolulu to live with his maternal grandparents, where he attended and graduated from Punahou School in 1979.

Over the years, he has discussed at length and reflected on how he managed the social perceptions related to his multicultural heritage. His educational pursuits after high school involved some moving around. By 1981, he had completed his freshman and sophom*ore years at Occidental College in Los Angeles.

Then, he went to New York City for his junior and senior years at Columbia University, where he graduated in 1983. In 1988,Obama entered Harvard Law School, where he graduated in 1991.

Career

After completing university, Obama taught constitutional law for twelve years at the University of Chicago Law School. First as a lecturer from 1992-1996, then as a senior lecturer teaching constitutional law.

While working for the university, he joined Miner Barnhill and Galland, a large firm, where he specialized as a civil rights attorney in civil rights litigation, including economic development.

In 2005, Obama became the Illinois state senator, winning 70% of the vote in the 2004 general election. As a senator, he co-sponsored two initiatives, Secure America and the Orderly Immigration Act. By late 2006 – early 2007, he began stepping down to prepare for his presidential campaign.

In early January 2009, Barack Obama was sworn in as the 44th United States President, serving two terms until 2017. When elected president, he was the first African American president and remains the only one in history. Within his first 100 days in office, he had ordered the closing of Guantanamo Bay.

The first bill Obama signed into law was the Lilly Ledbetter Fair Pay Act of 2009, which changedthe statute of limitations for equal-pay lawsuits.

During his terms of presidency, Obama served fearlessly and ensured and supported further statutes for LGBTQ rights. Including a crime prevention act, in combination with his support for the legalization of same-sex marriage.

His final day in the Oval Office included 330 commutations for non-violent drug offenders and commutations for well over fifteen hundred others, including Chelsea Manning.

Sources of Income

According to a recent Forbes article, the Obamas have a combined net worth of $135 million. The majority of their wealth comes from book deals and speaking engagements. The couple has earned millions of dollars in book deals and speaking fees since leaving the White House.

Barack Obama’s first book, Dreams from My Father, was published in 1995 and became a bestseller. He has since published two more books: The Audacity of Hope in 2006 and A Promised Land in 2020. According to Forbes, these three books alone have earned the Obamas $15 million.

In addition to their book earnings, the Obamas have made millions through speaking engagements. It is estimated that Barack Obama charges between $200,000 and $400,000 per speech, while Michelle Obama charges $100,000-$250,000 per speech. The Obamas gave a joint keynote address at the 2018 AIA Conference on Architecture in New York City, reportedly earning them $500,000.

They reportedly signed a joint book deal worth $65 million with Penguin Random House shortly after leaving office. In addition to being paid handsomely for speaking engagements all over the world, they’ve also signed a multi-year deal with Netflix to produce films and series for the streaming service. The terms of the deal were not disclosed, but it’s been estimated to be worth around $50 million.

So there you have it! The Obamas are certainly doing well for themselves post-White House. Their estimated net worth is now around $140 million, up significantly from when Barack first became President in 2009 (when it was just $1.3 million).

The Obama’s Real Estate – Barack Obama Net Worth

Regarding real estate, the Obama family is definitely not your average American family. The former President and First Lady of the United States have amassed quite a property portfolio over the years, with homes in Washington D.C., Chicago, New York City, and Hawaii.

Barack and Michelle Obama bought their first home—a modest condo—in Chicago’s Hyde Park neighborhood for $1.65 million in 2005. They lived there until 2009 when they moved into the White House. In 2017, they bought an 8,200-square-foot mansion in Washington D.C.’s Kalorama neighborhood for $8.1 million.

The Obamas also own a vacation home on Martha’s Vineyard, which they purchased for $11.75 million in 2019. Last but not least, they have a stake in a luxury condominium complex in Manhattan’s Upper West Side, valued at over $35 million.

Philanthropy

When it comes to philanthropy, President Barack Obama is no slouch. Over the years, he has given away millions of dollars to charitable causes, and his foundation—the Obama Foundation—has raised hundreds of millions of dollars for charitable causes.

Some organizations that have benefited from Barack Obama’s philanthropy include the Boys & Girls Clubs of America, the Clinton Foundation, the African Leadership Academy, and the My Brother’s Keeper Alliance. In addition, Obama has also given money to support education initiatives, health care reform, and disaster relief efforts.

Barack Obama is one of the most generous people in politics, and his philanthropy is proof of that. He has used his platform and his influence to make a difference in the lives of millions of people around the world.

Highlights

Here are some of the best highlights of Barack Obama’s career:

• NAACP Image Award- Chairman’s Award 2005
• Best Spoken Word Album Grammy Awards for the abridged audiobook version of Dreams from my Father
• 2007 He received the NAACP Image Award for Outstanding Literary Work
• 2008 Best Spoken Word Album Grammy Awards for the abridged audiobook version of The Audacity of Hope
• 2009 Nobel Peace Prize
• 2017 John F Kennedy Profile in Courage Award
• Obama also holds Honorary Doctorate of Laws recognitions from 14 universities.

Favorite Quotes from Barack Obama

“Our big problem right now is politics, can’t even get it out of football.” – Barack Obama

“America isn’t Congress, America isn’t Washington, America is the striving immigrant who starts a business, or the mom who works two low-wage jobs to give her kid a better life. America is the union leader and the CEO who put aside their differences to make the economic stronger.” – Barack Obama

“Change will not come if we wait for some other person or some other time. We are the ones we’ve been waiting for. We are the change that we seek.” – Barack Obama

“If you’re walking down the right path and you’re willing to keep walking, eventually you’ll make progress.” – Barack Obama

“I think when you spread the wealth around it’s good for everybody.” – Barack Obama

“You know, my faith is one that admits some doubt.” – Barack Obama

View our larger collection of the best Barack Obama quotes!

Summary

Barack Obama is one of the most memorable presidents of America. He generated a great deal of change in both of his terms. In his late 50s, Obama is still active in political advocacy, and we can make it count by delivering speeches when invited. Also, he and the former first lady established the Obama Foundation.

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