Barack Obama Net Worth: Barack Obama, is the former president of United States who has an estimated net worth of $40 million. He was the 44th and first African-American to serve as a president of United States from 2009 to 2017. He previously served in the U.S Senate representing Illinois, and in the Illinois State Senate. Barack Obama is considered as one of the greatest American president of all time.
About Obama
Barack Hussein Obama was born on August 14, 1961 in Honolulu, Hawaii to a white mother and black father. Obama is a graduate of Columbia University and after graduation; he worked as a community organizer in Chicago. In 1988, Obama enrolled Harvard Law School, where he was the first black president of the Harvard law Review. After graduation, Obama served as a civil right attorney and professor from 1992 to 2004, he taught constitutional law at the University of Chicago Law School.
Barack Obama was the Illinois State Senate representing 13th district for three terms from 1997 to 2004. However, Obama gained national attention in 2004, for his keynote address at Democratic National Convention. In 2008, Obama nominated for U.S. president election and then won against Republican John McCain. Barack Obama has married Michelle Robinson in 1992. They have two daughters, Malia and Sasha Obama.
How Much is Barack Obama Net Worth- $40 million (2017).
Obama’s net worth primarily come from his lucrative book deals with Random House, received an reported $1.9 million in advance for “The Audacity of Hope” plus royalty. However, he has earned 8.8 million from sales of “The Audacity of Hope” and another children’s book Of Thee I Sing: A Letter to My Daughters. In fact, Obama’s fortunes began to expand after his much praised keynote speech at the 2004 Democratic National Conventions. He has earned $6.8 million from his memoir Dream of My Father, which originally published din 1995.
Barack Obama’s net worth also increased through his government salary. Before joining U.S Senate, Obama has earned $85,000 per year as a law professor. While Obama served as a president, he has earned $400,000 a year throughout his entire eight year term. The President also had a $50,000 annual expense account, a $100,000 non-taxable travel account and a $19,000 entertainment budgets.
According to the Forbes, Obama has made $20.5 million between 2005 to 2016.
- Corporate Boards- earned $130K
- Presidential Salary- $3.1M
- Senate Salary- $610K
- University of Chicago Hospitals- $760K
- Book Sales- $15.6M
- Miscellaneous- $250K
- Total- $20.5
Obama won the 2009 Nobel Peace Prize, for which he was awarded a $1.4 million. He donated the prize money to an assortment of charities. According to the 1985 Former Presidents Act, Obama will receive a cabinet secretary’s salary for the rest of his life, currently it is $205,700 per years. However, Obama soon will get many opportunities to increase his fortunes.
