How much is Barack Obama’s net worth?
| net worth: | $70 million |
|---|---|
| age: | 62 |
| Birth: | August 4, 1961 |
| gender: | Male |
| Height: | 1.85 m (6 ft 1 in) |
| country of origin: | United States of america |
| Sources of funds: | 44th President of the United States |
| Last Updated: | July 28, 2024 |
Introduction
Barack Obama is an American politician and former President of the United States who has an estimated net worth of $70 million.
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He was born in Hawaii and was raised primarily by his mother. Obama is also a graduate of Harvard Law School and a former lecturer at the university. He won the Nobel Peace Prize in 2009 and is currently one of the few presidents to have done so.
quick Facts
- Barack Obama’s net worth is estimated at $70 million.
- 44th President of the United States.
- He was born in Hawaii and raised primarily by his mother.
- A graduate of Harvard Law School and former lecturer at the university.
- Nobel Peace Prize Laureate (2009)
- His income is derived primarily from book sales, speaking fees, and media deals with companies such as Netflix.
- Barack and Michelle have many philanthropic interests that inspire young people
early life
Barack Hussein Obama was born on August 4, 1961, in Honolulu, Hawaii, where he primarily 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 moved to Indonesia for four years. In 1971, Obama returned to Honolulu to live with his maternal grandparents, where he attended Punahou School and graduated in 1979.
Over the years, he has extensively discussed and reflected on how he managed social perceptions related to his multicultural heritage. His pursuit of education after high school took some time off and on. By 1981, he had completed his first and second years at Occidental College in Los Angeles.
Subsequently, he moved to New York City for his junior and senior degrees at Columbia University, from which he graduated in 1983. In 1988, Obama entered Harvard Law School, from which he graduated in 1991.
Livelihood
After completing university, Obama taught constitutional law at the University of Chicago Law School for twelve years, first as a lecturer from 1992 to 1996, then as a senior lecturer.
While working at the university, he joined a large firm called Minor Barnhill & Galland, where he specialized as a civil rights attorney in civil rights litigation, including economic development.
In 2005, Obama became an Illinois state senator, winning 70% of the vote in the 2004 general election. As a senator, he co-sponsored two initiatives, the Secure America and Orderly Immigration Acts. By late 2006 – early 2007, he began leaving office to prepare for his presidential campaign.
In early January 2009, Barack Obama was sworn in as the 44th President of the United States, serving two terms until 2017. When elected, he was the first African American president and remains the only one in history to be so. Within the first 100 days of his term, he ordered the closure of Guantanamo Bay.
The first bill Obama signed was the Lilly Ledbetter Fair Pay Act of 2009, which changed the statute of limitations for equal pay lawsuits.
During his presidency, Obama boldly worked to ensure and support more legislation for LGBTQ rights. This included the Crime Prevention Act, as well as his support for legalizing gay marriage.
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His final day in the Oval Office included commutations of 330 sentences for non-violent drug offenders and over fifteen hundred others, including Chelsea Manning.
Sources of Income
According to a recent Forbes article, the Obamas have a net worth of $135 million. Most of their wealth comes from book deals and speeches. The couple has earned millions of dollars from book deals and speaking fees since leaving the White House.
Barack Obama’s first book, my father’s dreamswas published in 1995 and became a bestseller. She has since published two more books: the audacity of hope In 2006 and a promised land According to Forbes, these three books alone have earned the Obamas $15 million.
In addition to the earnings from their books, the Obamas have also earned millions of dollars through speeches. Barack Obama is estimated to charge 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, which reportedly earned them $500,000.
He reportedly signed a combined $65 million book deal with Penguin Random House shortly after leaving office. In addition to receiving a good amount of money for speaking engagements around the world, he has also signed a multi-year deal with Netflix to produce films and series for the streaming service. Terms of the deal were not disclosed, but it is estimated to be worth around $50 million.
So you get the idea! The Obamas are certainly doing well since they’re out of the White House. Their estimated net worth is now around $140 million, which is a lot higher than when Barack first became president in 2009 (when it was just $1.3 million).
Obama’s Real Estate – Barack Obama Net Worth
The Obama family is certainly not an average American family when it comes to real estate. The former President and First Lady of the United States have amassed quite a fortune over the years, including homes in Washington DC, Chicago, New York City, and Hawaii.
Barack and Michelle Obama bought their first home – a modest condo – in Chicago’s Hyde Park neighborhood in 2005 for $1.65 million. They lived there until 2009 when they moved to the White House. In 2017, they purchased an 8,200-square-foot mansion in Washington DC’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 on Manhattan’s Upper West Side, which is valued at over $35 million.
Philanthropy
When it comes to philanthropy, President Barack Obama is second to none. Over the years he has donated millions of dollars to charitable causes, and his organization – the Obama Foundation – has raised hundreds of millions of dollars for charitable causes.
Some of the organizations that have benefited from Barack Obama’s philanthropy include the Boys & Girls Club of America, the Clinton Foundation, the African Leadership Academy, and My Brother’s Keeper Alliance. In addition, Obama has also given money to support education initiatives, healthcare 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 things from Barack Obama’s career:
- NAACP Image Award- Chairman’s Award 2005
- Grammy Award for Best Spoken Word Album for the abridged audiobook version my father’s dreams
- 2007 He received the NAACP Image Award for Outstanding Literary Work
- 2008 Best Spoken Word Album Grammy Award for the abridged audiobook version The courage of hope
- 2009 Nobel Peace Prize
- 2017 John F. Kennedy Profile in Courage Award
- Obama also holds honorary Doctorate of Laws degrees from 14 universities.
Favorite quotes from Barack Obama
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“The biggest problem we have right now is politics, we can’t even get it out of football.” – Barack Obama
“America is not Congress, America is not Washington, America is the hard-working immigrant who starts a business, or the mother who works two low-paying jobs to give her child a better life. America is the union leader and the CEO who put their differences aside to make the economy stronger.” – Barack Obama
“Change won’t come if we wait for someone else or another time. We are the people we’ve been waiting for. We are the change we’ve been looking for.” – Barack Obama
“If you’re on the right path and you’re willing to keep going, 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 admits of some doubt.” – Barack Obama
Check out our big collection of the best Barack Obama quotes!
Summary
Barack Obama is one of America’s most memorable presidents. He made a lot of changes in both his terms. In his late 50s, Obama is still active in political advocacy, and we can take advantage of this by giving speeches when invited. In addition, he and the former First Lady founded the Obama Foundation.
What do you think about Barack Obama’s net worth? Comment below.
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Category: Net worth