How rich is Barack Obama?
With an annual salary of USD 395,000.00, Barack Hussein Obama II, born on August 4, 1961, in the US state of Hawaii, was one of the top political earners among the heads of state, including Angela Merkel and the former Austrian President Heinz Fischer. Although Obama’s income, which corresponds to monthly earnings of USD 32,916.00, is low compared to the incomes of top managers in the economy, Chinese President Xi Jinping has to be content with just USD 3,310.00 a month. The majority of his assets of the equivalent of 65 million euros, However, Obama did not save through his salary. Still, through the sale of his books “Dreams of my Father” and “The Audacity of Hope”, “A Promised Land”, and the children’s book “Of Thee, I Sing A Letter To My Daughters.”
On January 20, 2017, Obama was officially replaced as US President by Donald Trump. However, the former US president is getting an annual pension of $ 203,700. You should be able to live with that.
Incredible book deal worth $ 65 million
The former president has signed a $ 65 million book deal with his wife, Michelle. The couple is supposed to write their memoirs about the White House’s time in two independent books. The New York publishing house “Penguin Random House” has secured the coveted deal. When the book appears is still unclear.
The Obamas are also said to have already signed a multi-million dollar deal with Netflix. In what form the Obamas will come to our TV sets remains to be seen.
The career of Barack Obama
The first years
It was already the early years of Obama’s life that would shape his worldview, as he grew up as the son of a black Kenyan and a white American as a “mixed” child. According to his statements, it was important for him to grow up on the Hawaiian islands in an environment in which different cultures or the clash of different cultures are the order of the day and interact peacefully with each other. Nevertheless, this peaceful coexistence could never really suppress the question of identity that Obama asked himself again and again, especially during puberty. During his youth – he admits – he often resorted to alcohol and marijuana to cope with his identity’s constantly rising question or at least temporarily suppress it.
The college years
After high school years in Hawaii, Obama moved to the American mainland to Los Angeles and began his studies there at Occidental College, which he left after only a short time to study at Columbia College in New York. He finally earned his BA in Political Science, which opened the doors to the Business International Corporation for him in the professional world. Still, He only worked for one year before signing an employment contract with a New York research group.
The years in Chicago
In 1988 he entered Harvard Law School, where he graduated three years later with the distinction “magna cum laude.” Back in Chicago, with his new law degree, he was to teach constitutional law for twelve years at the Chicago Law School. During this time, he also published the manuscript “Dreams of my Father “, completed in 1995, which has brought him millions of dollars to this day. According to Celebrity Networth, he makes $ 3.75 for every hardcover book sold and $ 1.12 for every softcover.
In 1996 he applied for the senator’s office of his state Illinois and served in its Senate from 1997 to 2004. In 2000 he tried to be elected to the House of Representatives but failed with this project.
Despite his academic achievements and the monograph he wrote, Obama remained relatively unknown on the major national political stage until 2004. But the speech that he gave in the same year at the Democratic National Congress, which gave the Democratic Party in Illinois an overwhelming victory in the elections, both his party comrades and politicians outside the Democratic Party began to notice him. At the same time, he became first mentioned as a possible successor to George W. Bush.
The speech was important not only for his career because it drew attention to him but also for his book sales. “Dreams of my Father “Reissued. While the Obama’s annual income in 2004 was USD 207,647, it multiplied within a year to USD 1,655,106, breaking the 1 million mark for the first time. The following year he wrote his second book, which would later become an essential part of his election campaign, with the title “The Audacity of Hope “. It immediately became a bestseller and sold millions of copies. It is mainly thanks to that second book that Obama’s annual income rose to over four million in 2007. In 2020 the last book to date, “A Promised Land,” was published and could climb all the bestseller lists again.
The presidential campaign
Barack Obama began his presidential election campaign back in 2007 because he first had to convince his party before it officially ran him as a presidential candidate. After all, the competition, which included Hillary Clinton, former US President Bill Clinton’s wife, was not to be underestimated, and Obama’s lead was only marginal. Nevertheless, his perseverance, sympathy, and rhetorical skills convinced his party, which officially led him to the presidential candidate in 2008.
His opponent in the election campaign was the Republican John McCain, who, among other things, due to his arch-conservative stance and some political missteps during the election campaign, could not convince the majority of Americans, who primarily favored a social and political change.
As President Obama started on January 20, 2009, some profound American domestic and foreign policy changes. In domestic politics, Obama introduced compulsory health insurance, often called Obamacare. He also passed several laws which should / should bring tax breaks, create jobs and restore unemployment insurance. In terms of foreign policy, he began with the withdrawal of the US presence in Iraq, signed a treaty on mutual disarmament control of nuclear weapons with Russia, and headed the NAVY SEAL mission. Osama bin Laden was killed. However, the political situation with Russian President Vladimir Putin remained tense.
In 2012 he won the election against Mitt Romney and took up his second term the following year. His vice-president was again Joe Biden. He is maintaining his political agenda, through which he also wants to end the military presence in Afghanistan and further strengthen the rights of gays and lesbians domestically. To reduce the troop presence abroad and raise the threshold for military intervention, he received the Nobel Peace Prize after only nine months of his first term in office. Obama donated the prize money equivalent to one million euros for various charitable purposes.
His total fortune
Barack Obama’s total assets, made up of his base salary of around USD 400,000, his royalties and book sales, are the equivalent of 65 million euros. However, he made most of the money from it in 2007-2010. Last year his annual income was only $ 481,098. During his time in Chicago, he lived with his family valued at $ 1.6 million. The property was almost 1,000 square meters. Before Barack Obama was allowed to drive a passive car, he drove a Chrysler 300C with a HEMI engine and luxury equipment valued at around $ 50,000.