Barack Obama: Net worth and former salary as US President

How rich is Barack Obama?

Born on August 4, 1961 in the US state of Hawaii, Barack Hussein Obama II belonged to one Annual salary of $ 395,000.00 to the political Top earners among the heads of state, which also included Angela Merkel and the former Austrian President Heinz Fischer. Although Obama’s income, that one Monthly earnings of $ 32,916.00 If the economy is low compared to the income of top managers, Chinese President Xi Jinping has to be content with just USD 3,310.00 per month. The main part of his Assets of the equivalent of 65 million euros However, Obama did not save through his salary, but through the sale of his books “Dreams of my Father” and “The Audacity of Hope”, “A Promised Land”, and the children’s book “Of Thee I Sing: A Letter To My Daughters” .

On January 20, 2017, Obama was officially replaced as US President by Donald Trump. However, the former US president is getting an annual pension of $ 203,700. You should be able to live with that.

Incredible book deal worth $ 65 million

The former president is said to have signed a $ 65 million book deal with his wife Michelle. The couple is supposed to write their memoirs about the time in the White House in two independent books. The New York publishing house “Penguin Random House” has secured the coveted deal. When the book will appear is still unclear.

The Obamas are also said to have already signed a multi-million dollar deal with Netflix. In what form the Obamas will actually get on our TV sets remains to be seen.

Barack Obama’s career

The first years

It was already the early years of Obama’s life that would shape his worldview, as he grew up as the son of a black Kenyan and a white American as a “mixed” child. According to his own statements, it was important for him to be able to grow up on the Hawaiian islands in an environment in which different cultures or the clash of different cultures are the order of the day and interact peacefully with each other. Nevertheless, this peaceful coexistence could never really suppress the question of identity that Obama asked himself again and again, especially during puberty. During his youth – he admits – he often resorted to alcohol and marijuana in order to cope with the constantly rising question of his identity or at least temporarily suppress it. He also used cocaine at times.

The college years

After high school years in Hawaii, Obama moved to the American mainland in Los Angeles and began his studies there at Occidental College, which he left after only a short time to study at Columbia College in New York. There he finally obtained his BA in Political Science, which opened the doors to the Business International Corporation for him in the professional world, but which only worked for a year before signing an employment contract with a New York research group.

The years in Chicago

In 1988 he entered Harvard Law School, where he graduated three years later with the distinction “magna cum laude”. Back in Chicago with his new law degree, he was to teach constitutional law at the Chicago Law School for twelve years. During this time he also published the manuscript “Dreams of my Father”, completed in 1995, which has brought him millions of dollars to this day. For every hardcover book sold, he earns $ 3.75 for every hardcover book sold, and $ 1.12 for every softcover, according to Celebrity Networth.
In 1996 he applied for the office of senator of his state Illinois and served in its Senate from 1997 to 2004. In 2000 he tried to be elected to the House of Representatives, but failed with this venture.

Despite his academic achievements and the monograph he wrote, Obama remained relatively unknown on the major national political stage until 2004. But the speech he gave that same year at the Democratic National Congress, which gave the Democratic Party in Illinois an overwhelming victory in the elections, both his party comrades and politicians outside the Democratic Party began to notice him and at the same time he became first mentioned as a possible successor to George W. Bush.
The speech was important not only for his career because it drew attention to him, but also for his book sales. “Dreams of my Father” was promptly reissued. While the Obama’s annual income in 2004 was USD 207,647, it multiplied within a year to USD 1,655,106, breaking the 1 million mark for the first time. In the following year he wrote his second book, which would later become an essential part of his election campaign, with the title “The Audacity of Hope”. It immediately became a bestseller and sold millions of copies. It is largely thanks to that second book that Obamas Annual income in 2007 to over four million has risen. In 2020 the last book “A Promised Land” was published and was able to climb all the bestseller lists again.

The presidential campaign

Barack Obama began his presidential election campaign in 2007 because he first had to convince his own party before it officially ran him as a presidential candidate. After all, the competition was made up among other things Hillary Clinton, wife of former US President Bill Clinton, was not to be underestimated and Obama’s lead was only marginal. Nevertheless, his persistence, his sympathy and his rhetorical skills convinced his party, which officially led him to the presidential candidate in 2008.
His opponent in the election campaign was the Republican John McCain, who was unable to convince the majority of Americans, who above all favored a social and political change, because of his arch-conservative attitude and some political missteps during the election campaign.

Obama’s presidency

As President Obama started on January 20, 2009, some profound changes in American domestic and foreign policy. In domestic politics, Obama introduced compulsory health insurance, often called Obamacare. He also passed several laws which should / should bring tax breaks, create jobs and restore unemployment insurance. In terms of foreign policy, he began with the withdrawal of the US presence in Iraq, signed a treaty on mutual disarmament control of nuclear weapons with Russia and headed the NAVY SEAL mission in which Osama bin Laden was killed. However, the political situation with Russian President Vladimir Putin remained tense.

In 2012 he won the election against Mitt Romney and joined his the following year second term on. His vice-president was again Joe Biden. He is maintaining his political agenda, through which he also wants to end the military presence in Afghanistan and further strengthen the rights of gays and lesbians domestically. For his efforts to reduce the troop presence abroad and to raise the threshold for military interventions, he received the after only nine months of his first term in office Nobel Peace Prize. Obama donated the prize money equivalent to one million euros for various charitable purposes.

His total fortune

Barack Obama’s total fortune, which is made up of his base salary of around USD 400,000, his royalties and book sales, is the equivalent of 65 million euros. However, he made most of the money from it in 2007-2010. Last year his annual income was only $ 481,098. During his time in Chicago, he lived with his family in a house valued at $ 1.6 million. The property was almost 1,000 square meters. Before Barack Obama was allowed to drive a passive car, he drove a Chrysler 300C with a HEMI engine and luxury equipment valued at around $ 50,000.

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