Barack Obama was a Senator from Illinois. He served one term in the Illinois Senate from 1997 to 2005. In 2007, he became the 44th President of the United States of America and was known to be the first African-American President of the U.S.
Full Name: Barack Hussein Obama II
Age: 59 years old
Date of Birth: Aug. 4, 1961
Height: 6 ft (1.85 m)
Profession: Politician, Lawyer, Writer, Author, and Law Professor
Barack Hussein Obama II is his complete name. He was born in Honolulu, Hawaii on Aug. 4, 1961. Unlike other U.S Presidents, Barack Obama was the only one born outside of the boundaries of the 48 states of the U.S.
His mother was Ann Dunham. She was of English, German, Swiss, Scottish, Irish, and Welsh blood. It was in a Russian language class where she met Barack Obama Sr. at the University of Hawaii Manio in 1960.
Barack Obama Sr. was a married man from Kenya before she met Ann. Then, he remarried Ann in 1961. Barack Jr. was born after six months. In 1964, the two divorced. Barack Sr. moved back to Kenya married for the third time. It was only after he moved back to Kenya when he visited his son.
Barack Jr. was already 9 years old when he saw his father in person in Hawaii in 1971. Due to a car accident in 1982, his father died. He’s already 21 years old then.
It was in March 1965 when Ann married an Indonesian named Lolo Soetoro. Unfortunately, his visa extension application in America was rejected so he went back to Indonesia. Ann brought Barack Jr. with her and joined Lolo in Indonesia in 1967. Barack Jr. grew up in Indonesia until 1971. He has several half-siblings, all from both his mother and father’s side.
Barrack Jr. moved back to Honolulu, Hawaii, and lived with his grandparents. He attended high school and graduated in 1979. Then, his mother died in 1995 after suffering from cancer.
After he graduated in 1979, he moved to Los Angeles. There he attended Occidental College and earned a full scholarship. He transferred to Columbia University around 1981. Barack graduated with a degree in political science with a specialty in international relations. He graduated in 1983.
He became a Financial Researcher at Business International Corporation. Then, it was followed by a stint as a Project Coordinator for different New York non-profit organizations.
Barack moved to Chicago in 1985. He was hired as a Director for the Developing Communities Project – a non-profit organization. He stayed as a director from 1985 to 1988. Then, he spent two months traveling throughout the world; not to mention his visit to Kenya where his relatives stay.
Sometime in 1988’s fall, He enrolled at Harvard Law School. He became the president of the Harvard Law Review.
In the summers, he returns to Chicago and continues to work as a community organizer. After he graduated from law school, Barack worked as a Civil Rights Attorney in Chicago and taught Constitutional Law at the University of Chicago Law School from 1992 to 2004.
Barack Obama used to work at a law firm in Chicago called Sidley Austin. There he met Michelle Robinson. Michelle was an associate for three months at that time.
She was assigned as Barack’s advisor. The two began dating. And in 1991, they became engaged. Soon after, they married on October 3, 1992, and eventually had two daughters.
The two pretty girls are named Malia Ann (born in 1998) and Natasha “Sasha” (born in 2001).
Road to Presidency
Apart from teaching, Barack Obama served as a Senator of Illinois State from 1997 to 2005. He became a rising star during a Democratic National Convention in July 2004. His keynote address caught the attention of the Democratic party.
He announced that he would run for President on February 10, 2007. His rival during the Democratic nomination. Then, he won against Jon McCain with the presidency and had Joe Biden as his Vice President.
In 2008, he became the 44th President of the United States of America and took office in January 2009.
Salaries & Book Royalties Income
Between 1991 and 2004, Barack was earning less than $30,000 for working as a professor and state representative. Michelle was working as a lawyer for the University of Chicago hospital system back then. Their family’s major income comes from her income as a lawyer.
When Barack became a U.S. Senator in 2005, his income increased to $157,100 while Michelle was also earning $273,618.
In 2005, the family was earning a total of $1.65 million. It was a total big leap of earning inside the Obama family. And, where this is coming from will be detailed below.
Back in 1995, Barack Obama wrote his first book “Dreams From My Father: A Story of Race and Inheritance”. It wasn’t as popular as it was eight to nine years ago; not until he delivered his DNC keynote address.
The book automatically exploded in popularity that led to the Obama family’s income windfall. It hit millions of copies making them earn $916,000 in 2006. This boosted up to $4.2 million in 2007.
When Barack campaigned for his presidency in 2008, their income continued to swell. Until today, Barack earns an average of $3.75 for every hardcover copy and $1.12 for every paperback sold.
That’s how their book royalties worked from 2008 to 2010. Another windfall was Barack and Michelle Obama receiving a $60 million advance for their biographies’ combined rights.
Below is a listing of Barack and Michelle Obama’s combined earnings from 2000 to 2017. After 2015, they stopped publicizing their income. That was as soon as they left the White House.
Obama Family Income History
2000 – $240,000
2001 – $272,759
2002 – $259,394
2003 – $238,327
2004 – $207,647
2005 – $1,655,106
2006 – $983,826
2007 – $4,139,965
2008 – $2,656,902
2009 – $5,505,409
2010 – $1,728,096
2011 – $789,674
2012 – $662,076
2013 – $481,098
2014 – $477,383
2015 – $436,065
2016 – No Data
2017 – At least $65,000,000
A President’s Salary
A president like Barack Obama earns $400,000 per year. He also had benefit access to a $150,000 expense account. Plus, he was given a $100,000 tax-free travel and $20,000 entertainment budget.
Barack and Michelle Obama invested in real estate. They bought an 8,200-square foot mansion and spent $8.1 million for it. In August 2019, it was reported that Barack was in escrow to a beautiful $14.9 million property in Martha’s Vineyard. It was a 7,000 square-foot home with 29 oceanfront acres of land.
Barack Obama Total Net Worth
Barack Obama’s Net Worth is $70 million. But this is a combined net worth with his wife Michelle Obama. They were not as wealthy as they are today when they were young adults.
It was a breakthrough to their financial status when they became millionaires in 2005. Special thanks to book royalties as Barack became the President and gained the political spotlight.