Barack Obama Net Worth: Here’s How Much The Former President Will Earn After Leaving Office
Megha KediaBarack Obama has officially retired from his post giving way for the current US President Donald Trump. The real question which is popping up is how much is Barack Obama's current net worth? The question makes sense especially now when he is officially unemployed.
Barack Obama Net Worth-
According to a recent study conducted by Analytics@American, the Obamas combined could make as much as $242 million after leaving the White House. Most reports claim that Barack Obama's 2017 net worth is close to around $12.2 million, while, wife Michelle Obama is not far behind him with a net worth of $11.8 million.
The ex-US President reportedly earned around $400,000 a year for performing his job throughout his entire eight-year term. Furthermore, he also received $50,000 in annual expense account, $100,000 in a non-taxable travel account and a $19,000 entertainment budget. Notably, the husband-wife duo is actively involved in charity. They have donated around $64,066 to more than 30 charities around the world.
Back in 2005, Obama had signed a multi-book deal with Random House and received around $1.9 million in advance for his book "The Audacity of Hope: Thoughts on Reclaiming the American Dream," including royalties.
Here's How Obama Will Make Money After Leaving Office
According to the Former Presidents Act of 1958, Obama will get a retirement package which will include the salary of a Cabinet secretary, which stands at around $205,700 a year, for the rest of his life. He will also get health insurance and 24/7 Secret Service protection until his death.
On top of the retirement salary, Obama is also expected to make money from speeches. Former President Bill Clinton earned an average of $210,795 per speech after he retired from his post. According to the study, if Obama delivers as many as 50 speeches a year at $200,000 per speech, he'll earn around $200 million before taxes.
The Obamas will continue to remain in Washington DC. The family will be moving in to an 8,200-square-foot, nine-bedroom mansion in the capitol's posh Kalorama neighbourhood.
most read
more stories from News
Discover TCL CSOT's groundbreaking debut at SID 2024: the world's first tri-foldable smartphone, featuring a spacious 7.85-inch screen. Explore its innovative design, enhanced display technology, and its impact on the future of mobile computing
ernest hamiltonDiscover how the Xiaomi 14 Ultra outperformed the Samsung Galaxy S24 Ultra and iPhone 15 Pro Max in PhoneArena's rigorous camera tests, excelling in detail and zoom capabilities while setting new standards for smartphone photography.
ernest hamiltonDiscover the groundbreaking achievement as Japan unveils the world's first 6G prototype device, promising unprecedented speeds and revolutionizing wireless communication.
ernest hamiltonDiscover the key features and security enhancements of Apple's iOS 17.5 update.
ernest hamiltonDiscover top iPhone apps that let you earn real money by playing games, scanning receipts, and staying active.
ernest hamiltonSamsung has reached a remarkable milestone, shipping nearly 3 billion smartphones since 2014. Discover how the tech giant's decade-long dominance and innovative advancements have solidified its leadership in the global smartphone market.
ernest hamiltonLearn about Apple's settlement in the class-action lawsuit over iPhone 7 audio issues, offering up to $349 compensation for eligible users. Dive into the details and implications of this landmark agreement.
ernest hamiltonThousands of Apple users experienced a major iMessage outage on Thursday evening, impacting communication across the U.S., Canada, and the U.K. Downdetector reported over 13,000 disruptions starting at 6 p.m. ET. Stay updated with the latest developments and potential fixes.
ernest hamilton