Barack Obama's Net Worth

Barack Obama is widely viewed as one of the most influential and inspiring political figures of the 21st century. During his term as the President of the U.S., Obama enforced major reforms in healthcare, environmental policy, and foreign affairs and played a crucial role in ending the U.S. military presence in Iraq. 

Excluding his role as a politician, he is also a bestselling author, an avid basketball player, and a wise lawyer. Despite all the international acclaim and praise, Obama's controversial approaches in the Middle East and the economic sector have yet to draw much attention. Nonetheless, his dedication to public service and humanitarianism has solidified his legacy, and by 2024, his post-presidential career has also helped him rank among the top 15 wealthiest Presidents ever.

What is Barack Obama's net worth?

As of 2024, Barack Obama has a net worth of $70 million.

Obama's fortune was limited to around $1.3 million back in 2006. However, during and mainly post-presidency, his wealth increased massively. He earned a significant amount from the sales of his books such as "Dreams from My Father" and "A Promised Land" which have been best sellers contributing to around $40 million of his overall net worth. Furthermore, he has also earned through speeches, and lectures, which have helped him amass more than $10 million.

In addition to his book sales and earnings from lectures, Obama signed a lucrative deal with Netflix to produce content through his production company, Higher Ground Production, which added around $25 million to his fortune. He is also known for teaching at top-listed colleges and universities including Columbia University, however, the income figures from those have not been disclosed.

What is Barack Obama's claim to fame?

Barack Obama spent part of his childhood in Hawaii and in Indonesia, which provided him with a diverse cultural background.

Barack Obama's journey toward fame has been completely influenced by his political career, which has also further shaped his career in the post-presidential term. Here is a list of the periods that have helped him gain the fame and the influence.

• Addressing At The 2004 DNC: It was Obama's keynote speech at the Democratic National Convention in 2004 that earned him national recognition. His eloquence and vision for the future were widely praised and also established him as a rising star in American politics. 

• Election To The U.S. Senate: After his limited success, he was inspired to take up the mantle and run for the seat of the U.S. Senate, representing Illinois in 2004. He comfortably won the election and gained a platform to influence the national policy.

   

• Presidential Run: After a few years in 2007, Obama announced his candidacy for Presidential elections. His campaign emphasized hope, change, and development which attracted and resonated with a broad spectrum of voters.

• Historic Presidential Election Win: In 2008, Obama became the first-ever African American President of the United States, and this victory garnered attention worldwide and was called a historic milestone. 

   

• Nobel Peace Prize Win: In an Ironic twist, Obama did end up receiving the Nobel Peace Prize just in two months in his first term in office, in 2009. 

• Challenges Faced During Presidency: During his presidency, Obama faced several major challenges, including the global financial crisis, the ongoing wars in Iraq and Afghanistan, and a growing sense of division and polarization in American politics. However, throughout his Presidency, Obama was widely praised for his leadership and vision. On the other hand, his use of drone strikes and wars in Lybia, Somalia, and many other countries made him infamous. 

• Re-Election Victory and Second-Term Impact: After having a rather successful yet controversial first term, Obama got re-elected for a second term as the President of the U.S., defeating Mitt Romney in 2012. His second term focused on reducing his first-term triumphs and instead talking about issues like environmental issues, gun control, and more. However, increased political polarization among the two parties and challenges in executing some of his policies affected his overall influence as the President.

What ventures does Barack Obama own or is associated with?

After his presidency ended in 2017, Obama diversified his post-presidential career through various business ventures and partnerships that also ended up significantly fueling his wealth. Below is a list of the ventures he owns or is associated with.

• Book Sales: The former president has made most of his income through the sales of his books, including "Dreams from My Father," "The Audacity of Hope," and "A Promised Land", through which he has earned around $40 million.

• Higher Ground Production: Higher Ground Production was founded by Barack and Michelle Obama in 2018. Since its establishment, this production house has made several documentaries and series, including the Oscar-winning “American Factory”. Obama has also signed a $25 million multi-year first-look deal with Netflix for its films and TV projects.

• Public Speaking: Besides his formal speaking engagements, Obama has also been involved in public speaking at various conferences and public events for which he charges around $400,000 per speech, and as of yet he has made around $5 million solely from the speeches.

How does Barack Obama spend his wealth?

Throughout his career, as the president or even post-presidency Barack Obama has been known for not spending much of his wealth on assets other than his properties. Here is a list of the assets he currently owns.

How many houses does Barack Obama own?

Barack and Michelle Obama have a bunch of properties, and although details regarding most of his houses are not known, as of current time information on his most significant estates has been revealed, and here is a list of them.

• The Obama Family House, Washington, D.C.: The Obama family home in the Kalorama neighborhood in Washington D.C. is worth over $8.1 Million. This house serves as the main residence post-presidency and offers both privacy and proximity to the capital and the political center of the country.

• Martha's Vineyard Mansion, Massachusetts: Barack Obama also owns a $11.75 million mansion in Martha's Vineyard, Massachusetts. He bought this property in 2020, and since then it has served as a retreat for the Obamas.

• Chicago Residence: The Obama's Chicago residence is in the Kentwood neighborhood on the South Side of Chicago. It has a value of around $2.5 million and holds a significant sentimental value as this is the place where Obama started his political career.

What cars does Barack Obama own?

Not known for his lavish lifestyle, Obama’s car collection is pretty reserved, to say the least. Ever since his presidency concluded, he has been driven around in heavily armored Chevrolet Suburbans, which is why determining his car collection is close to impossible taking in mind that he is a very reserved person. However, below is a list of two of the cars that he used to own. 

• 2005 Chrysler 300C: Before getting elected as the president, Barack Obama used to drive around in a $33,150 2005 Chrysler 300C which he traded for a Ford Escape hybrid. 

• 2000 Jeep Grand Cherokee: Another car the former President used to drive is the $23,200 Jeep Grand Cherokee but it has been a long time since he had sold it.

What philanthropy endeavors has Barack Obama been involved in?

Barack Obama might have been involved in numerous controversies till now. However, his list of philanthropic endeavors outshines all of them. Below, is a list of some of the charitable endeavors he has been a part of till now.

• The Obama Foundation: The Obama Foundation was established by Barack Obama after leaving office in 2017. This foundation works on encouraging and empowering the next generation of leaders around the U.S. Since its establishment, this foundation has raised over $1.1 billion and currently has overall assets worth around $925 million. Some of its most significant projects include the Obama Presidential Center in Chicago and the Obama Foundation Scholars programs at the University of Chicago.

• Support for Education: Throughout most of his career, Obama has been a strong supporter of good education. During both of his presidential terms, he supported initiatives to improve people’s access to education. Post-presidency his foundation continues his legacy by sponsoring scholarships and programs that cultivate leadership for students from diverse backgrounds.

   

• Donation For The Military Families: During his time in the White House, both he and his wife Michelle have donated over $1 million, to help underprivileged children and military families. Their largest donation for the families was almost $392,000, which went to the Fisher House Foundation which supplies free housing to both the military and veteran families.

• Donation For The Children: Besides the donation to the military and veteran families, a significant amount of the $1 million donated by Barack and Michelle Obama went to help the Boys & Girls Clubs of America and the Midtown Educational Foundation in Chicago.

What’s Next for Barack Obama?

Obama is one of the only 16 U.S. presidents who have served two full terms in office.

The latter half of 2024 is going to be quite important for Barack Obama, as he will be completely involved with the Democratic Party politics, as the presidential elections approach. He is especially focusing on mentoring the new generations of leaders and has held numerous normal sessions with the younger Democrats.