Since leaving the White House, Barack Obama has continued to do very well for himself financially. The former president released the first volume of his memoir, “A Promised Land,” in November 2020; by December 2020, it had sold 3.3 million copies, becoming one of the top-selling political memoirs in history. Obama and former first lady Michelle Obama have also signed a number of book and podcast deals, as well as a lucrative deal with Netflix.
Barack Obama’s Net Worth: $70 Million
According to Celebrity Net Worth and Business Insider, Barack Obama’s net worth is estimated to be $70 million. However, according to an estimate by Analytics@American — American University’s business analytics program — Barack and Michelle Obama could make as much as $242.5 million post-presidency.
|Net Worth||Date of Birth||Primary Sources of Wealth||Career Highlights|
|$70 million||Aug. 4, 1961||Presidential salary and pension, book, podcast and Netflix deals||Former president, Nobel Peace Prize|
A Timeline of Barack Obama’s Wealth
Here’s a timeline of Barack Obama’s accomplishments that have added to his earnings over the years:
Obama earned a salary of $80,287 from the Illinois Senate and $32,144 from the University of Chicago Law School, where he lectured. He also had investments in three different assets — including the Vanguard Wellington Fund — evaluated between $100,000 and $200,000.
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. He also earned just over $847,000 that year from another book advance for “Dreams From My Father,” plus $378,237 from additional book royalties.
Obama reported book royalties for “Dreams From My Father” of a little less than $150,000, plus $425,000 from royalties for “The Audacity of Hope.”
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 — valued at between $50,000 and $100,000 each to start — for his daughters.
When Obama was elected president, he owned somewhere between $1.1 million and $5.1 million in U.S. Treasury bills.
Obama won the Nobel Peace Prize, which came with a $1.4 million award. He donated it to a number of different charities.
Obama earned $400,000 a year as president and continued to earn book royalties, as well as interest on his investments.
Obama’s annual pension after leaving the White House is more than $200,000. He has also received fees as large as $400,000 for public speaking events. The Obamas signed a book deal together with Penguin Random House reportedly worth more than $65 million for two books — one written by each member of the power couple.
The Obamas founded Higher Ground Productions and signed a production deal with Netflix.
Barack Obama released his latest book, “A Promised Land.” The book is part of an unprecedented $65 million deal that also included Michelle Obama’s memoir.
The Obamas’ Higher Ground Productions signed an exclusive worldwide, multi-project, multi-year first-look deal with Audible, according to a 2022 press release.
Barack Obama’s Life Beyond the Presidency
Obama is now one of five living former presidents, and he has returned to his community activist roots, working on issues that were important to him during his presidency, such as gun control, immigration, nuclear nonproliferation, race relations, and criminal justice reform. Through various organizations, social media, speaking engagements, and his production company, Obama continues to raise awareness of these issues and pursue social change.
According to the 1958 Former Presidents Act, Obama will receive the salary of a cabinet secretary for the rest of his life. That amount is his $205,700 annual pension. Among the other perks are health insurance and round-the-clock Secret Service protection until his death. In addition to Secret Service protection, Obama will also receive funds for an office, staff, and related expenses.
Barack Obama’s Netflix Deal
Obama and Michelle Obama signed a deal with Netflix in 2018 to produce series and films for the streaming service. The financial details of the deal were not disclosed, but similar deals with other producers have been valued at tens of millions of dollars over several years.
Under their production company, Higher Ground Productions, the Obamas have released several documentaries, including “American Factory,” which won an Oscar, “Becoming,” and “Crip Camp.” They have also released a docuseries called “Our Great National Parks,” with Obama as the narrator.
Barack Obama’s Speaking Fees
Obama commands high speaking fees as a former president. He has earned as much as $400,000 for a single speech and is estimated to make about 50 speeches a year, earning a conservative $200,000 per speech.
Barack Obama’s Real Estate
Obama and Michelle Obama own multiple properties. They bought an $8.1 million house in the Kalorama neighborhood of Washington, D.C., after leaving the White House. They also own a home in the historic Hyde Park neighborhood of Chicago and a home on Martha’s Vineyard in Massachusetts.
Frequently Asked Questions (FAQs)
What is Barack Obama’s net worth?
Barack Obama’s net worth is estimated to be $70 million.
How did Barack Obama make his money?
Barack Obama made his money through various sources, including his presidential salary and pension, book deals, podcast deals, and a production deal with Netflix.
What is Barack Obama’s primary source of wealth?
Barack Obama’s primary sources of wealth are his presidential salary and pension, book deals, podcast deals, and his production deal with Netflix.
What is Barack Obama’s career highlight?
Barack Obama’s career highlight is serving as the 44th president of the United States and winning the Nobel Peace Prize.