From speaking at events around the world to writing a memoir and, most recently, signing a massive production deal with Netflix, Obama’s life after the White House has been full and very lucrative.
These endeavors – along with the six-figure pension all former presidents receive – have significantly contributed to Obama’s estimated net worth of $40 million (RM 165.80 million).
From the time he joined the US Senate in 2005 to the end of his presidency, Obama made $20 million (RM 82.90 million) alone from his presidential salary, book royalties, and investments, Forbes reported. And based on all the projects he has taken on in the short time since leaving the White House, we can only expect him to make many millions more.
The Obamas entered the White House with a $1.3 million (RM 5.39 million) net worth in 2008. That has since grown to an estimated $40 million (RM 165.81 million).
Obama earned $400,000 (RM 1.65 million) year during his eight years as president, and he earns an annual pension of about $200,000 (RM 829,060) as a former president.
The largest part of the Obamas’ fortune came from books. From 2005 to 2016, Obama earned $15.6 million (RM 64.66 million) in advances and royalties from his books “The Audacity of Hope” and “Of Thee I Sing: A Letter to My Daughters” and royalties for “Dreams From My Father,” Forbes reported.
But Barack’s lucrative career as an author isn’t over. Last year, he and Michelle signed book deals worth at least $60 million (RM 248.70 million)
Books aren’t the Obamas’ only foray into media — they recently signed a production deal with Netflix. While financial details haven’t been released, The New York Times reported that previous similar deals were worth tens of millions of dollars.
Since leaving office, Obama has also been paid as much as $400,000 (RM 1.65 million) for public speaking events.
All things considered, the Obamas could stand to earn as much as $242.5 million (RM 1 billion) in their post-presidency life, American University estimated.
Source: Business Insider