Barack Obama’s fortunes have flourished even after he left the White House. The first volume of the former president’s memoir,
“A Promised Land,” was published in November 2020, and by December 2020, it had sold 3.3 million copies, making it one of the best-selling political memoirs of all time.
In addition to their lucrative arrangement with Netflix, Obama and former first lady Michelle Obama have secured a number of book and podcast deals. Find out Obama Net Worth 2023.
What You Want to Know?
Barack Obama’s Life Beyond the Presidency
Now that he is one of just five living former presidents, Obama has returned to his activist origins, focusing on the same gun control, immigration, nuclear nonproliferation, race relations, and criminal justice reform that he championed as president.
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Obama maintains his efforts to educate the public and effect social change through his production company, as well as through social media, public speaking, and other venues.
Obama will be paid the salary of a cabinet secretary for the rest of his life thanks to the 1958 Former Presidents Act.
His annual pension comes to $205,700. Other benefits include lifetime health coverage and constant Secret Service security. Obama will receive Secret Service security and money for an office, personnel, and other relevant expenses.
Barack Obama’s Netflix Deal
Obama is getting ready to expand his reach as a producer, which will raise his income. In 2018, he and Michelle Obama inked a partnership to create content for streaming service Netflix.
“Barack and I have always believed in the power of storytelling to inspire us,” Michelle Obama said in the announcement.
Despite The New York Times’s claim that such arrangements have been worth tens of millions of dollars over the course of several years, Netflix has been mum on the subject of finances.
Barack Obama Netflix Releases
The Obamas’ production firm, Higher Ground Productions, has published several documentaries, including the Oscar-winning “American Factory,” the critically acclaimed “Becoming,” and the unprecedented 100% fresh rating for “Crip Camp” on Rotten Tomatoes.
The documentary series “Our Great National Parks,” narrated by Obama, premiered in the spring of 2016.
This past year also witnessed the premiere of “Descendant.” The upcoming titles include the science fiction film Satellite, the young adult series Firekeeper’s Daughter, and many more films.
Barack Obama’s Audible Deal
After the Obamas’ podcast arrangement with Spotify expired in the spring of 2022, they signed a big first-look deal with audiobook distributor Audible. This change could increase exposure for Higher Ground Productions’ podcasts.
Audible has a two-week first-look period, while Spotify had an exclusive contract that made the productions only available on Spotify. Even if Higher Ground declines a project, it may nonetheless adapt it for other media.
Higher Ground’s mission from the beginning has been to give a platform to those who don’t normally get one, and Audible is committed to helping us bring that vision to fruition.
In a press release, President Obama remarked, “I look forward to working with them to tell stories that not only entertain but also inspire.”
Barack Obama’s Speaking Fees
The Obamas continue to be as famous as ever, and many former presidents have found success in second careers as speakers and authors through their own foundations.
The reports that in September 2017, the former president spoke at a healthcare conference hosted by the trading and financial firm Cantor Fitzgerald.
It was stated that he charged the same amount for that appearance as the president makes in a year ($400,000). The Obamas could give 50 lectures per year, according to an estimate by Analytics@American, and make “a conservative $200,000” each time.
Barack Obama’s Real Estate
Obama is the first former president to continue living in the nation’s capital after leaving office in nearly a century. His youngest daughter, Sasha, wanted to finish high school, so the family stayed. In June of 2019, she completed her degree.
Their abode can be found in the upscale Kalorama district. According to CNBC, the Obamas paid $8.1 million for the home. They also maintained their Hyde Park, Chicago, residence.
Homes and Gardens also claims that the Obamas have a summer residence on Martha’s Vineyard.
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Conclusion
Obama’s life since leaving office has been busy and lucrative, with the former president giving speeches all over the world, penning a memoir, and most recently striking a big production deal with Netflix.
These efforts, combined with the six-figure pension that all former presidents receive, have helped Obama amass an estimated $40 million in wealth at the moment.
Forbes estimates that Obama gained $20 million from his presidency salary, book royalties, and investments between 2005, when he first entered the US Senate, and January 20, 2017, when he left office.
From the looks of all the initiatives he’s taking on in his first year after leaving office, he stands to gain tens of millions more in the years to come.
