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After serving as the president of the United States, Barack Obama and his wife Michelle have made millions. With their marketing, the Obamas are even overshadowing Donald Trump.
Barack and Michelle Obama are one of the most popular couples in America. After Barack Obama’s second term as president of the United States, the Obama family has had this golden popularity. The Obamas present themselves as a loving couple in public, are close to the people and always exude a down-to-earth attitude. In this political staging you are the opposite of the reigning US President Donald Trump, who showcases his billionaire fortune and economic success.
Barack Obama helps children in Washington rock: Obamas like to be close to people, a secret of their success. (Source: imago images)
But Barack and Michelle Obama also run a very successful family business. With Netflix lectures, books and most importantly documentaries, the couple have made several millions in the past four years. There is no end in sight: in the medium term, Barack Obama could become one of the richest former US presidents.
With relatively little money in the White House
At the same time, when the Obamas moved to the White House in 2009, their fortunes were low compared to other presidential couples. The business magazine “Forbes” has assumed 1.2 million US dollars. For comparison: Donald Trump it was worth $ 3.1 billion when it moved to the White House, the fortune of the president-elect of the United States Joe Biden it is estimated at over $ 9 million. Also George W. Bush he already owned $ 20 million from a job in the oil industry.
The Obamas and the Bidens in the 2008 presidential campaign: Biden was elected 46th President of the United States in 2020. (Source: Reuters)
Obama’s economic rise began with Barack’s candidacy for president of the United States. The official in the United States receives an annual salary of US $ 400,000, plus book revenues for Barack and Michelle. When they moved out of the White House in 2017, they are said to have had a fortune of nine to ten million US dollars, writes Forbes. It has against it trump He has so far lost a billion dollars during his tenure, which “Forbes” attributes to the crown pandemic. His fortune is currently based on 2.1 billion dollars valued.
The Obamas are raising millions
With his retirement from the forefront of politics, the Obamas’ rapid financial rise began and family affairs skyrocketed. It’s not just because of the presidential pension of $ 200,000 a year. Compared to the rest of the income, it looks tiny.
Classes at companies and organizations are particularly profitable, with relatively little effort. Barack Obama grossed $ 800,000 to $ 1 million for a one-hour event. Trump did the same ahead of his time in the White House. From time to time he appears as a speaker for the renowned New York Higher Education Institution “The Learning Annex”, the fee for a one-hour presentation is $ 1.5 million.
The second main pillar of the Obamas are still book agreements. The first volume of Barack’s autobiography, entitled “A Promised Land”, was released on Tuesday. In just under 1,000 pages, Obama recounts his childhood, his unstable youth, his political rise and the first of two terms as president.
The book alone is about breaking records and publishers have fought for the rights to the couple’s autobiographies. Eventually, Penguin Random House, a Bertelsmann subsidiary, won the tender. The publisher is said to have paid an advance of $ 65 million for three books. For comparison: Bill Clinton received $ 15 million for his memoirs, Bush $ 10 million.
Obama depends on Trump for books
The financial outlay of the publishers is worth it. Michelle Obama’s autobiography “Becoming”, published in 2018, has sold 1.5 million copies in the first week and 15 million to date. Barack’s book is also a bestseller even before it was published.
The Obamas clearly overshadow Donald Trump. Trump’s only successful book, “The Art of the Deal,” is a mixture of personal memories and advice. He earned about $ 1 million in royalties. But: Unlike the Obamas, Trump doesn’t write his books himself, so he has to pay royalties to the authors.
Barack and Michelle ObBarack and Michelle Obama in a Netflix documentary: their films are also produced by the same company as Obama. ama in a Netflix documentary: your films are also produced by the same Obama company. (Source: imago images)
But the Obamas don’t just make money from their books. The former first lady even won a Grammy for the audiobook she read in her autobiography. The Obamas have also signed a very dated contract with Netflix and the production volume of Obama’s films is estimated at $ 50 million. The documentaries are produced by the company of the former presidential couple.
Books, lectures, films, podcasts. People in the United States and around the world are vying for whatever looks like the Obamas. When it comes to marketing, they are in a class of their own, as Michelle’s reading tour in 2018 shows. They filled entire stadiums with 20,000 people, and visitors paid up to $ 3,000 for the best seats. The former first lady received $ 800,000 per appearance, her five-week US tour earnings – $ 10 million.
How big is your luck?
All these projects bring millions in the family budget, and at 59 and 56, Barack and Michelle Obama are relatively young compared to other ex-presidential couples, respectively. Right now, according to Forbes, his fortune is on the rise $ 135 million valued. According to the American University, they have a potential income of over $ 240 million.
After their time in the White House, the Obamas bought a house in Washington: it has ten rooms and eight bathrooms. (Source: imago images)
The Obamas are already playing in a different league than many other former presidential couples. Previously, Bill and Hillary Clinton were considered big earners in the United States after leaving the White House. In 2017, Bill’s net worth was estimated at approximately $ 80 million, with Hillary Clinton contributing an additional $ 45 million.
The Obamas have built a successful family business. They are their recipe for success. Their appearance is interesting to fans, and they also reveal personal stuff in their books. Many people find him honest, nice and approachable. This is exactly what distinguishes them among ex-presidential couples.
In addition, there is the social commitment of their foundations, the donations of millions of children in need or disadvantaged districts of Chicago. The Obamas have become multimillionaires in recent years, but publishers, bookstores and streaming services also benefit. Ultimately, economic success is also the result of hard work.
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