How Barack and Michelle Obama make and spend their millions: from their Netflix, public speaking and book deal cash to their love of luxury holidays with the likes of Tom Hanks and Oprah Winfrey
- Despite being away from the White House for six years now, the Obamas continue to be one of the US’ most beloved couples, indicated by the success of both of their book deals and Netflix shows
- They like to splurge in their down time – Barack kite-surfed with Richard Branson and Michelle wore a Versace gown worth US$12,000; they were also spotted on David Geffen’s yacht with Tom Hanks
Barack makes his money from a six-figure pension, public speaking and his bestselling books. His latest memoir A Promised Land sold nearly 890,000 copies within 24 hours of its release, according to the AP.
From speaking at events around the world to writing memoirs and signing a massive production deal with Netflix, the Obamas’ life after the White House has been full and very lucrative.
These endeavours have significantly contributed to the Obamas’ net worth, which is at least US$70 million, according to International Business Times.
From philanthropic efforts and holidaying where the sun shines to making long-term investments in their daughters’ education, here’s how the Obamas make and spend their fortune:
The Obamas entered the White House with a US$1.3 million net worth in 2008
From the time when Barack joined the US Senate in 2005 to 2016, the Obamas earned a total of US$20.5 million from his government salary, book royalties, investment income and Michelle’s income from her job at University of Chicago Hospitals before she became the first lady, per Forbes.