Barack Obama, the 44th president of the United States of America, has been very much enjoying his post-White House life. Photos of the politician recently popped up that featured him vacationing with family and you know, having fun now that he’s out of the spotlight. As a two-term president and three-year senator, he’s more than earned some time off for rest and relaxation (his hair can’t get any grayer).
A recent CSPAN study ranked Obama as the 12th greatest president in U.S. history, but what does that mean for his bottom line? Praise and accolades are all well and good, but they don’t pay the bills. As an eight-year commander in chief, author, and now sought-after public speaker, we’re curious how much Obama has stashed away.
Barack Obama’s Net Worth as of 2018: $12.2 Million
Obama’s net worth sits at a tidy $12.2 million, which may not be Mark Zuckerberg money, but is still pretty impressive to us common folk. His time in office has gained him a lot of attention and notoriety, but Obama’s extracurricular activities have been his true money makers. Over the years, Obama has made some wise financial decisions and positioned himself well for life after the Oval Office.
But how did he get here? And how did he do it in only a handful of years? Let’s take a look.
1997 – 2004
As an Illinois State Senator from 1997 to 2004, Obama earned an annual salary of roughly $80,287. During this time, Obama also lectured at the University of Chicago Law School, where he made around $32,144. In addition, he owned assets in four financial funds which were valued between $50,000 and $100,000 each. This is a comfortable living for sure, but soon Obama would start making some real money.
2005 – 2007
Seen as a rising politician after his 2004 Democratic National Convention appearance, Obama started receiving more opportunities to advance his career and make several boatloads of cash.
In 2005, Obama signed a lucrative multi-book deal with Random House Publishing and received a $1.9 million advance for the eventual best-seller The Audacity of Hope (plus royalties). In the same year, the soon-to-be president received $847,000 for a separate book advance and $378,000 off of book royalties. During this time, his investments benefitted from a Nuveen Floating Rate Income Fund valued between $50,000 and $100,000. Obama finished off the year reporting deposit accounts valued between $150,000 and $350,000.
In 2006, his book royalties paid him $150,000 and another book advance netted him $425,000. Additionally, Obama acquired publicly-traded assets in Goldman Sachs and Vanguard, said to be worth tens of thousands of dollars. Dude was making moves.
In 2007 things really started to pick up for Obama. He cracked the seven-figure mark once again by netting $3.3 million in Random House royalties and earned $816,000 from Dystel & Goderich Literary Management. Cha-ching. He also came into ownership of a Northern Municipal Money Market Fund valued between $1 million and $5 million, plus U.S. Treasury notes valued between $500,000 and $1 million.
2008 – Present
At the time of Obama’s inauguration, he was in ownership of anywhere between $1 million and $5.1 million in U.S. Treasury bills. In 2009, he was awarded the Nobel Peace Prize, which came with a $1.4 million award (which he donated to a handful of charities).
During his time as president, Obama made an annual salary of $400,000 while continuing to earn book royalties and interest on his savvy investments. In other words, stacks on stacks on stacks.
As of now, Obama’s net worth stands at $12.2 million. However, his post-White House earnings potential appears to be sky high. Keep clicking for a look at the jaw-dropping amount of money both he and Michelle could make now that they are out of the White House.
Former US president and the 44th president of the country overall, Barack Obama will have his documentary showing the last year of his tenure released in the theaters.