When Barack Obama was elected in 2008, he became the first African-American president of the U.S. to the joy and chagrin of many, none of whom can deny that his election was a historic moment, not only in America but the world over.
Born in Hawaii on August 4, 1961, to a Kenyan father and a mother from Kansas, Obama was raised with the help of his grandparents. He graduated from Columbia University in New York City and later moved to attend Harvard Law School, where he attracted national attention as the first African-American president of the Harvard Law Review.
He became a civil rights attorney in Chicago and met and married his wife, Michelle Obama. He later got elected to the Illinois Senate in 1996 and then to the United States Senate in 2004 before joining the Democratic presidential race to become president of the United States.
Since leaving office in 2017, the 44th president of the U.S. has redirected his focus toward supporting the next generation of leaders through The Obama Foundation. The mission of the foundation is to inspire, empower, and connect people to change their world.
In addition, he has published three New York Times bestselling books: Dreams from My Father (1995), The Audacity of Hope (2006), and A Promised Land (2020). Still, he has remained active in the political space, supporting Biden’s successful presidential bid in 2020 and, recently, Kamala Harris.
As per Forbes, life after the Oval Office has proven quite lucrative lately, arguing that former presidents like Donald Trump, George W. Bush, Bill Clinton and Obama have capitalized on their stature and fanbase to land high-paying speaking gigs, book contracts, and other deals.
The platform said that Trump is the first ex-president of America to make a billion dollars off of politics less than four years after losing reelection.
In the case of Obama, Forbes noted that he has a net worth of $70 million. He made about $20 million during his 12 years in Washington, D.C., as a Senator and President and had an estimated net worth of $6 million in 2012, the business magazine said.
However, post-his presidency, the figure skyrocketed. As per the Financial Times, Obama and his wife, Michelle, sold their memoir rights to Penguin Random House for $65 million in 2017.
He also signed a four-year deal with Netflix after founding Higher Ground Productions. He has since won two Emmys.
The Obamas’ other sources of wealth include being paid to speak at events and owning homes in Chicago, Hawaii, D.C., and Martha’s Vineyard worth a combined $35.5 million (assessed value).
