- Full Name: Barack Hussein Obama
- Born: August 4, 1961
- Place of Birth: Honolulu, Hawaii
- Occupation: Politician, President of the United States
- Marital Status: Married
Barack Obama’s Net Worth History
Barack Obama’s net worth was recently estimated to be US$12.2 million, a 438 percent increase from the 2007 estimate of $1.7 million. His annual salary as President is $400,000. Another large part of his earned income is attributed to book sales; Dreams from My Father and The Audacity of Hope have remained in print since initial publication and continue to generate royalty income for the President, along with his new book, Of Thee I Sing. Obama still collects $3.75 from each hardcover book sale and $1.12 from each paperback. His total income from book sales was about $273,000 for 2013. The rest of his wealth reportedly comes from investments; the investments he’s disclosed to the public were in U.S. Treasury “T-notes,” Vanguard and JP Morgan Chase savings, insurance, and college savings funds for his children. The President’s net worth and that of the First Lady, Michelle Robinson Obama, are reported separately; Mrs. Obama’s net worth is estimated at $11.8 million.
About Barack Obama
As the son and namesake of an oil company representative who later held influential positions in the government of Kenya, Barack Obama did not exactly grow up in poverty. Still, in college he worked to pay for part of the cost of his law degree. As a young teacher and “community organizer” he was steered into politics early by people who appreciated his talent for public speaking. He was elected to the Illinois State Senate. While running for a U.S. Senate seat in 2004, he made a speech at the Democratic Party convention that generated publicity for his first book, Dreams from My Father.
There had been a huge demand for a well written, true, recent story about a little African-American boy losing his father, first to divorce and then to death, and growing up in a “blended family” to be a successful adult. Dreams from My Father was a perfect fit for this market niche. (Its passing reference to the fact that Obama had survived some student “experiments” with drugs probably didn’t hurt the book’s success.) Reviewers who noted its timeliness were nevertheless surprised by the intensity of feeling the book aroused. Its author has been voted the most popular man on Earth, and elected President of the United States–twice.
President Obama’s supporters credit his administration with investing U.S. and other government funds in formerly private industries such as General Motors, with adding many previously uninsured U.S. citizens to a government-managed medical insurance plan (“Obamacare”), with legalizing same-sex marriage, with bringing U.S. troops home from Iraq in 2011, and with being “the most powerful leader” on Earth. His opponents blame his administration mostly for its success in accomplishing what his supporters wanted it to accomplish. However controversial the Obama administration has been, it has been almost completely free from the kind of petty individual scandals that have characterized some previous presidential administrations.
As the Obama administration enters its final days, Barack Obama’s financial prospects seem bright. His books continue to enjoy extraordinary success; his income as an inspirational speaker may even continue to rise as he leaves office, and his wife is a multimillionaire in her own right. The Obama family is likely to remain one of America’s richest.