Born on 4th August 1961 in Honolulu, Hawaii, Barack Hussein Obama II, popularly known as Barack Obama is an American politician, author, Nobel Peace Prize laureate, and one of the most popular public figures in the world. He was elected as the 44th president of the USA in 2009 and served in the post till 2017. He is also considered as the first Afro-American who served as a president. He also served in the United States of America’s Senate as a representer of Illinois from 2005-2008. Besides, he was in the Illinois State Senate and served from 1997-2004. Having such personal profile, Barack Obama net worth is estimated around $40 million in various popular sources. Keeping these aside, let’s move on to explore how he has earned that fortune in the following.
Barack Obama Net Worth
In 1983, after completing his graduation from Columbia University, Obama started working as a community organizer in Chicago. He served as a professor of constitutional law at the University of Chicago Law School. Apart from that, he was in the Illinois Senate for three times from 1997 to 2004. He was nominated as a presidential candidate in 2008 and was elected to be the first Afro-American President of the United States of America. Nine months later after his inauguration, the president cool, Barack Obama got the Nobel Peace Prize in 2009.
As mentioned earlier, Obama net worth is estimated around $40 million in various sources excluding his Nobel Prize money $1.4 million as he donated the entire figure to charity. Majority of Barack Obama’s fortune is earned from his best seller books and his base salary as the president of the United States of America.
As a best seller author, two of his books, namely, “Dreams of My Father,” and “The Audacity of Hope” was sold millions of copies during his journey for the presidency. His books got a huge sale during his political campaign, and it is estimated that more than 100,000 copies were sold in a week after his election. Besides, he was given an advance for his book, and he became the first sitting president to have a book advance deal in the office.
The base salary of Barack Obama as a president was $400,000 per year that also contributed a lot to earn the net fortune as of now. He was also allowed for a $100,000 tax-free travel budget, $150,000 expense account, and $20,000 as an entertainment budget as well while he was in the White House.
Now, let’s have a look at the time-frame of Barack Obama net worth in the following;
In 2004, Obama earned $80,287 and $32,144 respectively from the Illinois State Senate and University of Chicago Law School. He also had four financial funds ranging in between $50k and $100k each.
2005 was one of the most notable parts of Obama’s career that bestowed him a great deal of fortune. He signed several deals in 2005 as an author. Most importantly the contract with Random House that earned him $1.9 million as an advance for one of his best seller books titled “The Audacity of Hope.” He also earned more than $847k as an advance for another book and another $378k as royalties.
In 2006, Obama also signed for another book and received $425k in advance while his previous book royalties generated another $150k at the same time. Apart from that, he also availed publicly-traded assets which worth another tens of thousands, together with the funds with Goldman Sachs and Vanguard.
2007 was also another milestone in Obama’s new worth timeline. He earned around $3.3 million as royalties from his deal with Random House. He also acquired another $816k from Dystel & Goderich Literary Management. Apart from that, he generated around $8 million that includes investment funds, treasury notes, and college savings plans.
2008 took Barack Obama to a new height indeed, and he was elected as president of the United States of America. He also owner around $6.1 million from treasury bills.
In 2009, Obama was awarded the Nobel Peace Prize with a fortune of $1.4 million that he donated to charities.
From 2009 to 2017, he used to get a base salary of $400k per year as the president. Also, his earnings from book royalties continued simultaneously. He also generated a huge some amount of money from public speaking events as well. He also received a $200k pension when leaving the White House.
Facts about Barack Obama
# Obama was the first Afro-American who served as a president.
# Obama’s nickname that he used to introduce himself until university was Barry.
# Including many personal, funny acts about Barack Obama, he used to collect Conan the Barbarian and Spider-Man comics. He has also read the Harry Potter series.
There might have ambiguities regarding the figures in Barack Obama net worth. However, according to most of the popular sources, the net worth of the president cool is estimated around $40 million. And, surprisingly, a handsome amount from the figure he earned as an author.
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