Barack Obama made history when he became the first ever African American president of the United States. Now he will reportedly Be The 1st Billionaire Former President!
Business Insider reports The Obamas entered the White House with net worth of $1.3 million that has grown to $40 million. Obama earned $400,000 per year during his eight years as president, and he continues to receive an annual pension of approximately $200,000.
Obama also reportedly gets paid as much as $400,000 for speaking events. He and Michelle Obama signed a book deal for over $60 million. He also reportedly earned $800,000 for two speeches at Northern Trust Corp. the Carlyle Group, and a minimum of $1.2 million for three talks to Wall Street firms in 2017. The Obamas also signed a production deal with Netflix, estimated to be $50 million, according to The New York Post.
Forbes reported that from 2005 to 2016, Obama earned $15.6 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.”
In 2018 when speaking in Johannesburg, South Africa for the 100th anniversary of former South African President Nelson Mandela’s birth, he admitted that he was “surprised at how wealthy he has become.”
Forbes hasn’t released an official statement, but the initial report comes from an upcoming book.