Barack Obama’s financial success has persisted even after he left the White House. A Promised Land” was launched in November 2020 and sold 3.3 million copies by December 2020, making it one of the best-selling political memoirs in history. He also inked a hefty Netflix agreement with his wife, the former first lady, Michelle Obama, last year.
Barack Obama’s Life Beyond the Presidency
Obama is currently one of five surviving former presidents, and he has returned to his community activist roots, working on causes that were important to him during his presidencies, such as gun control, immigration, nuclear nonproliferation, and race relations, and criminal justice reform. Obama continues to raise public awareness of these concerns and work toward social change through his production firm, numerous organizations, social media, and speaking engagements.
For the rest of his life, Obama will be paid the salary of a cabinet secretary under the terms of the 1958 Former Presidents Act. That’s his yearly pension of $205,700. Health insurance and Secret Service security till death are among the other benefits.
President Obama will get cash for an office, staff, and related expenses in addition to the protection provided by the Secret Service.
50 years ago, committed women and girls from around the country worked with Congress to pass Title IX and equal the playing field. @ESPN‘s 37 Words documentary looks into the impact of Title IX and the work still in front of us. pic.twitter.com/PavwzUuTPg
— Barack Obama (@BarackObama) June 23, 2022
Barack Obama’s Netflix Deal
As a producer, Obama intends to expand his area of influence and, potentially, his wealth. He and Michelle Obama announced a contract to create shows and features for Netflix in 2018.
“Barack and I have always believed in the power of storytelling to inspire us,” Michelle Obama stated in the formal statement.
Netflix would not divulge the financial details; The New York Times, however, stated that comparable deals had been valued at tens of millions over several years.
At Higher Ground Productions, the Obama family has also published “American Factory,” which won an Oscar, “Becoming,” and “Crip Camp,” which has a rare 100 percent fresh rating on Rotten Tomatoes, among other titles. “Our Great National Parks,” a Netflix docuseries with Obama as narrator, was released just a few weeks ago. “Satellite,” a sci-fi film, “Firekeeper’s Daughter,” and several other films are on the way.
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Barack Obama’s Speaking Fees
Presidents often set up foundations and have profitable second careers as sought-after speakers and authors, and the Obamas are no exception to this rule. During a healthcare conference hosted by trading and financial firm Cantor Fitzgerald in September 2017, the former president gave a lecture, according to The New York Times. The price for that event was said to be $400,000, which is equal to his annual income as president.
Analytics@American projected that the Obamas might earn “a conservative $200,000” per speech by giving around 50 addresses a year.
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Barack Obama’s Real Estate
Obama is the first former president to remain in Washington, D.C. after he leaves office after nearly a century of such occurrences. For his youngest daughter, Sasha, to complete high school, he and his family stayed in town. It was June 2019 when she graduated.
The Kalorama neighborhood in which they live is one of the area’s more affluent ones. According to CNBC, the Obamas paid $8.1 million for the mansion. They also remained in the Hyde Park district of Chicago, where they had previously lived.
A Chicago law firm called Sidley Austin was where Barack worked in the summer of 1989. Michelle Robinson, a colleague, served as Barack’s advisor for three months beginning in June. It didn’t take long before they started dating and became engaged in 1991. On October 3, 1992, they were married in a civil ceremony.
Malia Ann, born in 1998, and Natasha “Sasha,” born in 2001, would be the couple’s only children.
Rise To Presidency
Beyond teaching, Barack was an Illinois state legislator from 1997 to 2004, when he ran for the United States Senate and was elected to the position. From 2005 to 2008, he would serve in the US Senate.
When he delivered the keynote address at the Democratic National Convention in 2004, Barack became a household name. It wasn’t long before his star began to rise among Democrats.
On February 10, 2007, Barack announced that he would run for President. To win the Democratic nomination, he had to take on Hillary Clinton in the final round. After winning the nomination, he went on to defeat Jon McCain in the general election with the help of Vice President Joe Biden.
In November of that year, the people of the United States chose Barack Obama to be their 44th president. In January 2009, he was inaugurated as president.
Barack Obama’s Net Worth
It was estimated by Celebrity Net Worth that the former president’s net worth was $70 million. However, the business analytics school at American University, Analytics@American, has estimated that Barack and Michelle Obama might profit up to $242.5 million after their administration.
- Net worth: $70 million
- Date of birth: Aug. 4, 1961
- Primary sources of wealth: Presidential salary and pension, book, and Netflix deals
- Career highlights: Former president, Nobel Peace Prize