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 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!
As of May 2023, Barack Obama has a net worth of $70 million. In this post, we’ll show you how he amassed his wealth and what you can learn from his story.
Table of Contents
Early Life
On August 4, 1961, Barack Obama was born 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 many unfortunate events, Barack Obama’s parents divorced in 1964. Consequently, at the age of six, Barack Obama and his mother moved to Indonesia.
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 was passionate about fighting for civil rights and things he believed were unjust. His work reflects this passion, and 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 became the number-one contender!
On November 4, 2008, Barack Obama defeated John McCain to become the 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 book deal. The majority of these earnings came from book royalties.
After Barack Obama officially became president, the couple continued to land lucrative book deals.
In 2017, they signed a $60 million book deal to publish their autobiographies!
One of the most commercially successful books by Barack Obama is ‘Dreams from My Father: A Story of Race and Inheritance (1995) and ‘Audacity of Hope’ (2006).
Obama’s notable works in print 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. Writing has brought millions to Obama’s net worth.
Barack Obama Net Worth 2023
As of May 2023, Barack Obama has a net worth of $70 million. Much of Obama’s wealth comes from book sales and speaking engagements.
His political positions have added a hefty portion to his net worth. As noted above, Obama’s work in the literature has also brought several million to their names.
Barack Obama has also grown his net worth with several 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 Destiny
Despite coming from a non-political background, Barack Obama fully pursued being president. Additionally, coming of African-American descent, he had societal pressures and voices weighing in on him.
Like 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, bold, and confident!
Use Your Pain As Motivation
Surprisingly, Barack Obama had a tough childhood. The young boy still found success between divorces, constant moving, and other problems.
Like Obama, we need to remember to use our pain as motivation to keep going. Remember to use that pain as motivation to lift yourself at these times!
Seek To Change The World
Obama had a never-ending desire to change the world. Whether locally or nationally, the man wanted to bring change. If we all took on this idea just a little bit in our own personal lives, we could live in a much better place ten years down the road!