How Is The Net Worth Of Barack Obama $70 Million?

December 29, 2021

Have you ever wondered what the net worth of Barack Obama is? As the 44th president of the United States of America, the man has definitely built quite the resume in politics. Surprisingly, Barack Obama had a very intriguing childhood. Not only was his bringing up different than any other president in history, but he was also the first American president to come of African-American descent! In this post, we’ll show you Barack Obama built his net worth of $70 million, and what you can learn from his story.

Early Life

Barack Obama was born on August 4, 1961, in Honolulu, Hawaii. This makes him the only president to be born outside the contiguous 48 states of America! His father was of Kenyan descent and his mother was of American descent. Barack Obama’s parents originally met in 1960, in a Russian language class at the University of Hawaii at Manoa. A single year later, the couple married in Wailuku, Hawaii, on February 2, 1961. Six months later, they gave birth to Barack Obama.

After a series of unfortunate events, Barack Obama’s parents divorced in 1964. Consequently, at the age of six, Barack Obama and his mother moved to Indonesia. Here, Obama’s mother met and remarried Lolo Soetoro, Obama’s new stepfather. Spending four years in Jakarta, Obama learned to speak fluent Indonesian.

In 1971, Obama returned to Honolulu to live with his maternal grandparents. He attended Punahou School, a private college preparatory school. Obama had a successful educational career. Consequently, the young boy won a full-ride scholarship to Occidental College! Because of this, he took a flight straight to Los Angeles. During his junior year, he transferred to Columbia University where he finished and received his Bachelor’s.

Career

In 1993, Barack Obama joined Davis, Miner, Barnhill & Galland, a 13-attorney law firm specializing in civil rights litigation and neighborhood economic development. Obama took particular passion in fighting for civil rights and things he believed to be unjust. This passion is reflected in his work, his firm becoming one of the most successful and recognized locally! Additionally, his participation in this law firm resulted in him being hired as an individual lawyer in several other cases.

In 1996, Barack Obama was elected to the Illinois State Senate. This marked his first true involvement in high-level politics! In 2002, Barack Obama began his first campaign to run for senate. Eager and passionate, Obama sought to make a difference locally, and nationally. Consequently, he launched his first campaign in 2004. On January 3, 2005, Barack Obama was sworn into Senate!

Following a successful 3-year term, Barack Obama resigned from his seat in Congress. Consequently, he devoted all of his time and attention to becoming president. Barack Obama began gaining steam in his political endeavors. Obama executed his campaign plans and soon become the number one contender! On November 4, 2008, Barack Obama defeated John McCain to become 44th president of the United States, along with vice president Joe Biden.

Presidential Impact

During his tenure as President of the United States, Obama signed numerous bills into law. One of the most historic was the Affordable Care Act, commonly known as Obamacare. Additionally, he also signed The Lilly Ledbetter Fair Pay Act. This bill made it easier for people to challenge unequal pay complaints and is designed to help address the wage gap between men and women.

Outside of historical bill signings, Barack Obama also ordered and oversaw the military operations that led to the captures of infamous terrorist leaders. On May 11, 2012, the country announced Obama’s most famous capture, the assassination of Osama Bin Laden.

The Obamas and Literature

In 2005, the Obamas officially became millionaires when they signed an incredible $1.65 million dollar book deal. The majority of these earnings came from book royalties.

The couple continued to land lucrative book deals after Barack Obama officially became president. In 2017, they signed a $60 million book deal to publish their autobiographies! Two of the most commercially successful books by Barack Obama to date include, ‘Dreams from My Father: A Story of Race and Inheritance (1995) and ‘Audacity of Hope’ (2006). Other notable works in print by Obama include Of ‘Thee I Sing’ (2010) and ‘A Promised Land (2020).

While there is no doubt that Obama’s political career was very successful, it is hard to ignore his career in literature. Evidently, writing has brought millions to Obama’s net worth.

Barack Obama Net Worth 2022

As of 2022, Barack Obama has a net worth of $70 million dollars. Much of Obama’s wealth comes from book sales and speaking engagements. Additionally, his political positions have added a hefty portion of his net worth. As noted above, the Obamas work in literature has also brought several million to their names.

Barack Obama has also grown his net worth with a number of real estate properties. In June 2017, the Obama couple acquired an $8 million dollar home in Washington D.C. In 2019, they purchased another property on Martha’s Vineyard for an incredible $15 million dollars. Both of these properties have reportedly appreciated in value!

Key Takeaways

  • Your Background Is Not Your Destinty: Despite coming from a non-political background, Barack Obama fully pursued being president. Additionally, coming from African-american descent, he had societal pressures and voices weighing in on him. Similar to Barack Obama, we must remember that our background does not define our destiny. Even if we are the first to do something in a new field, be brave, be bold and be confident!
  • Use Your Pain As Motivation: Surprisingly, Barack Obama had a particularly hard childhood. Between divorces, constant moving and other problems, the young boy still found success. Similar to Obama, we need to remember to use our pain as motivation to keep going. At these times, remember to use that pain as motivation to lift yourself up!
  • Seek To Change The World: Obama had a never-ending desire to change the world. Whether it be locally or nationally, the man simply wanted to bring change. If we all took on this idea just a little but in our own personal lives, we could live in a much better place ten years down the road!

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