Barack Obama Net Worth: How Rich Is The 44th President of The United States?

Do you want to know What Is Barack Obama Net Worth? Barack Obama is the 44th president of the United States. He was born in Hawaii and was mostly raised by his mother. Obama is also a graduate of Harvard Law School and used to teach there.

He is one of the few presidents to have won the Nobel Peace Prize, which he did in 2009.

What Is Barack Obama Net Worth?

Barack Obama is the 44th President of the United States. He used to be a senator from Illinois. Barack Obama was the first African American to be President of the United States. He served in the Illinois Senate for one term. As of this writing, Barack Obama has a $70 million net worth. 

Barack Obama Net Worth
Barack Obama Net Worth

With his wife, Michelle Obama, that is how much money he has. The Obamas did not have much money for most of their adult lives. They became millionaires for the first time in about 2005 when Barack started to get attention in politics because of his book.

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Barack Obama’s Early Life

Barack Obama II was born in Honolulu, Hawaii on August 4, 1961. He is the only US President who wasn’t born in one of the 48 states that touch each other.

His mother, Ann Dunham, came from England, Germany, Switzerland, Scotland, Ireland, and Wales. Ann met Barack Obama Sr. in 1960 when he was on a scholarship at the University of Hawaii Manio and taking a Russian class. Barack Sr. was married at the time. He was from Kenya. In 1961, Barack and Ann got married. Six months after that, Barack Jr. was born.

Barack Sr. and Ann divorced in 1964, and he moved back to Kenya and got married again. Barack Sr. didn’t see Barack Jr. again until he moved back to Kenya. In 1971, when Barack Jr. was 9 years old, he went to Hawaii to see him. In 1982, over Christmas, Barack Obama Sr. died in a car accident. At the time, Barack Jr. was 21 years old.

Ann married an Indonesian man named Lolo Soetoro in March 1965. Lolo went back to Indonesia after his request to extend his visa was denied. In 1967, Ann and Barack Jr. moved there with him. Barack lived in Indonesia until 1971 when he moved back to Honolulu to live with his mother’s parents. Here is where he went to high school and graduated in 1979. The couple stayed together until 1980. She died too soon, in 1995, because she had cancer.

Barack has a lot of half-siblings from both of his parents.

Barack moved to Los Angeles after graduating from high school in 1979 to attend Occidental College, where he got a full scholarship.

He changed schools in 1981 and went to Columbia University, where he got a political science degree focused on international relations. In 1983, he got his degree from Columbia. He worked as a financial researcher for Business International Corporation for a year and then as a project coordinator for several non-profits in New York.

In 1985, Barack moved to Chicago to work as a director for a non-profit called the Developing Communities Project. From 1985 to 1988, he worked there. In 1988, he spent two months traveling around the world. During that time, he spent five weeks in Kenya visiting family.

Barack signed up for Harvard Law School in the fall of 1988. He was the head of the Harvard Law Review when he was there. He returned to Chicago during the summers and worked as a community organizer there. After graduating, Obama went to law school and worked as a civil rights lawyer in Chicago. From 1992 to 2004, he taught constitutional law at the University of Chicago Law School.

Barack Obama’s Personal Life

In the summer of 1989, Barack worked at Sidley Austin, a law firm in Chicago. Beginning in June, Michelle Robinson was given the job of being Barack’s advisor for three months. They started dating right away, and in 1991, they got engaged. On October 3, 1992, they got married.

They would have two daughters: Malia Ann in 1998 and Natasha “Sasha” in 2001.

Rise To Presidency

Barack did more than teach. From 1997 to 2004, he was a state senator in Illinois. In 2004, he ran for the US Senate and won. From 2005 to 2008, he would be in the US Senate.

When Barack gave the keynote speech at the Democratic National Convention in July 2004, he became known all over the country. He became a rising star in the Democratic party after that.

On February 10, 2007, Barack said that he was running for president. He had to face Hillary Clinton to win the Democratic nomination. He won the nomination, and with Joe Biden as his running mate, he beat Jon McCain to become President.

In November 2008, Barack Obama was chosen as the 44th President of the United States. In January 2009, he became president.

Net Worth And Book Royalties

Barack never made more than $30,000 for his work as a professor and state representative between 1991 and 2004. During this time, Michelle Obama’s high salary as a lawyer, mostly for the University of Chicago hospital system, was the main source of income for the Obama family.

When Barack became a US Senator in 2005, his income jumped to $157,100. Michelle made $273,618 in the same year. In 2005, they made $1.65 million altogether. Where did those extra $1.2 million come from?

In 1995, Barack wrote “Dreams from My Father: A Story of Race and Inheritance,” his first book. For the first 8 or 9 years, after it came out, it wasn’t trendy. After his speech at the DNC in 2004, the book became very popular, and the Obama family made a lot of money from the royalties in 2005.

In 2006, Barack and Michelle Obama said they made $916,000. When Barack’s second book, “Audacity of Hope,” came out in October 2006, it was a huge success. Millions of copies were sold, and the Obamas’ income jumped to $4.2 million in 2007. Thanks to Barack’s successful campaign and election in 2008, their income kept going up over the next few years. Barack Obama still makes $3.75 for each hardcover book he sells and $1.12 for each paperback book. Royalties stayed at a good level in 2008, 2009, and 2010.

Barack and Michelle Obama got a $60 million advance in February 2017 for the rights to both of their autobiographies.

Barack Obama’s Salary

Barack Obama’s base salary as President was $400,000. He also had a $150,000 account for expenses, a $100,000 account for tax-free travel, and a $20,000 budget for fun.

Properties Of Barack and Michelle Obama

Barack and Michelle bought a house in Kenwood, Illinois, near Chicago, in August 2000. The Obama home is 6,400 square feet and has six bedrooms, six bathrooms, mahogany bookcases, a granite kitchen floor, and a wine cellar.

Barack Obama Net Worth
Barack Obama Net Worth

After they left office, Barack and Michelle rented a mansion in Washington, D.C., so their youngest daughter could finish high school there. They bought the 8,200-square-foot rental for $8.1 million in June 2017.

In August 2019, it was said that the Obamas were in the process of buying a Martha’s Vineyard home for $14.9 million. The main house on the property is 7,000 square feet, and it has 29 acres of land right by the ocean.

Summary

Barack Obama is one of the most well-known American presidents because he made many changes during his terms in office.

Obama is still active in politics, even though he is in his late 50s. He makes his work count by giving speeches when asked. The Obama Foundation was also set up by him and the former first lady.

It is thought that Barack Obama will have a net worth of $70 million in December 2022.

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FAQs

What Is Barack Obama Net Worth?

It is thought that Barack Obama has a net worth of $70 million.

What is Barack Obama’s age?

Barack Obama was born on August 4, 1961, which makes him 61 years old right now.

What is Barack Obama’s height?

Barack Obama is 1.85 m tall, which is 6 feet 1 inch.

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