Are Barack and Michelle Obama really worth US$135 million? They entered the White House with US$1.3 million in 2008 …
Here’s how US president Barack Obama and former first lady Michelle have made their fortune – and how they spend it, from philanthropic efforts to exotic holidays and long-term investments in their daughters’ education
Former president Barack Obama and former first lady Michelle Obama are hosting three virtual graduation events for the millions of students who had their graduation cancelled because of the coronavirus pandemic.
The first two events, on May 16, celebrated graduates of historically black colleges and universities (HBCUs) and high school students in collaboration with the LeBron James Family Foundation. The last event, on June 6, will feature the Obamas and a star-studded cast of other political figures and celebrities hosted in partnership with YouTube.
The Obamas are a busy couple, even when they’re not giving virtual commencement speeches. 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.
For her part, Michelle Obama’s memoir Becoming was published in November 2018 and became the year’s bestselling book.
These endeavours – along with the six-figure pension all former presidents receive – have significantly contributed to the Obamas’ net worth, which was at least US$40 million, according to a 2018 GoBankingRates estimate. But the New York Post recently pegged their fortune much higher, at US$135 million.
From philanthropic efforts to holidaying where the sun shines to making long-term investments in his daughters’ education, here’s how the Obamas spend their fortune.
