Since leaving the White House, President Obama and the family are actually working and playing hard, using their multiple philanthropic projects on their luxury tour of Europe (which included a stop-off with the Clooney family’s Lake Como Villa). To read more about obama net worth follow the link or see below.
Just prior to the new year, they purchased one more luxurious home, now in Martha’s Vineyard and worth nearly $12 million.
The couple, who signed a lucrative take care of Netflix to generate TV shows and films, also helped produce the documentary American Factory. The project, which devoted to a Chinese factory checking in Ohio, found themselves winning Best Documentary at the Oscars – proving that their escape from politics is settling.
Michelle will also bring in additional cash with the production of an companion journal to her bestseller, Becoming. The journal, which has been officially released in November 2019, is named Becoming: A Guided Journal for Discovering Your Voice and it is that will help readers think about their personal dreams and goals.
At the start of 2020, Michelle announced the launch of the IGTV series that can follow four first-year university students so that you can help young people navigate their unique path.
From Netflix deals to luxurious homes, here’s what sort of Obama portfolio stacks up – and the way they spend their funds.
What is Barack Obama’s net worth?
Obama’s net worth is $40 million according to a 2018 estimate. According to Forbes, the Obamas earned $20.5 million between 2005 and 2016. A large chunk of the originated from two highly lucrative book deals inked by Barack for Audacity of Hope and Dreams of My Father.
Where does Obama’s money are derived from?
Obama’s money comes from his time as president, his Netflix deal, book deals, his speaking gigs, with his fantastic annual pension. In the past, he earned money being an Illinois state senator and from teaching at the University of Chicago Law School.
He earned $400,000 annually as president, and it is reported to be earning $205,700 12 months from his annual pension because of the 1958 Former Presidents Act.
Most recently, he inked a lucrative Netflix deal to have an undisclosed sum which is likely to end up worth millions. The deal is to generate both series and flicks for that service for multiple years. The New York Times reported that similar deals are already signed for millions of dollars.
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The Obama family with Bo (Getty Images)
According to Variety, it’s unknown just how much the Netflix deal is worth, but the joint book deal Barack and Michelle signed with Penguin Random House paid them $65 million for his or her memoirs.
Barack previously inked a $1.9 million advance in January of 2005 for his memoir The Audacity of Hope, which doesn’t include royalties (Forbes claim he made $8.8 million in total through the book). He earned an $847,000 advance for his book Dreams From My Father, which subsequently designed a reported $6.8 million as a whole.
He’s also estimated to generate around $400k for speaking arrangements – similar to his presidential salary.
According to CNBC, Obama reportedly earned $800,000 for two main speeches and a minimum of $1.2 million for three talks on Wall Street.
President Obama with Queen Elizabeth (PA)
How much do US Presidents make while in office?
According to the Legal Information Institute, presidents make $400,000 annually and therefore are paid monthly.
But that’s not all. Presidents receive an allowance of $50k per year to assist them to with official duties, a little like the British Royal Family. If for some reason the President doesn’t need his allowance, the money goes right back for the Treasury. The President is additionally given a $100k nontaxable travel account, $19k for entertainment and $100k to redecorate the White House – but Obama famously decorated the White House on his own dime.
Malia and Sasha Obama on a break (AbacaPress / SplashNews.com)
What does Barack Obama spend his funds on?
Like a bit of good dad, a chunk of his income is invested in his two daughters, Sasha and Malia Obama. Sasha recently graduated from Sidwell Friends School, a special Washington, D.C. high school that Joe Biden’s granddaughter attended alongside her.
Sasha enrolled at the public state school University of Michigan inside fall of 2019, which for out of state students costs around $50,000 annually. Her older sister, Malia Obama, is really a junior at Harvard. Tuition is all about $50,000 12 months.