Why the Obamas Are Worth $40 Million Today (Far More Than When Barack Ran for President)
Report indicates the couple has amassed a fortune
It’s been obvious, by his many campaign appearances for Democrats during this 2018 midterm election season, that former President Barack Obama has been very busy indeed.
His wife, Michelle Obama, has also been busy.
The former first lady spoke at a voter registration rally in Las Vegas in September and is co-chair of When We All Vote, which sponsored the event at Chaparral High School in that city.
The group When We All Vote focuses on encouraging voter registration and engagement and has a number of celebrity co-chairs.
Those individuals include Tom Hanks, Lin-Manuel Miranda, Janelle Monáe, Chris Paul, Faith Hill, and Tim McGraw.
The Obamas also recently signed a deal with Netflix to produce a variety of projects with the streaming company.
“From the time he joined the U.S. Senate in 2005 to the end of his presidency, Obama made $20 million alone from his presidential salary, book royalties, and investments, Forbes reported. And based on all the projects he has taken on in the short time since leaving the White House, we can only expect him to make many millions more,” the outlet reported.
This past Friday in Miami, Florida, Obama said of Republicans, referencing the caravan of an estimated 4,000 Central American migrants headed toward the U.S. (though that number may now be far higher), “They’re telling you the existential threat to America is a bunch of poor refugees a thousand miles away. “They’re even taking our brave troops away from their families for a political stunt at the border. The men and women of our military deserve better than that. So they’re just constant fear-mongering to distract from the record.”
He’s attacked Republicans every chance he’s gotten as he’s tried to boost the chances of a variety of Democrats running for office in these midterms.
Obama was interrupted during the rally on Friday by hecklers — and he told one heckler to attend a Republican rally instead.
“Here’s the deal,” Obama said this past Friday. “If you support the other candidates, then you should go support the other candidates. Don’t be here. One of the things I never understood was why if you’re supporting the other guy, you come to my rally. Go to their rally.”
“Based on estimates of income from speeches, book deals and pensions, the Obamas could earn as much as $242.5 million after leaving the White House,” according to an online blog published by American University in Washington, D.C.
“Yet the Obamas’ story isn’t unique. Historically, the presidency acts like an elevator, taking officeholders from lower to higher tiers of wealth, often beginning immediately upon leaving the Oval Office.”
That’s “not bad for a couple that entered office with $1.3 million in total net worth.”
That same publication went on to say, “And yet the Obamas’ story isn’t unique. Historically, the presidency acts like an elevator, taking officeholders from lower to higher tiers of wealth, often beginning immediately upon leaving the Oval Office. According to the data, each of the last eight presidents had a higher net worth after vacating the office.”
And perhaps not surprisingly, “Bill Clinton has done the most to cash in during his post-political career.”
Here’s what else that same outlet went on to say: “Now 15 years removed from his time as president, [Bill] Clinton, with the help of Hillary, has amassed an estimated $75 million in net worth from speeches and book deals. This represents a 6,250 percent jump from the $1.2 million the couple had when Bill Clinton took office in 1993.”
“To put that in context, consider that George H.W. Bush has seen his fortune grow from $4 million before taking office to an estimated $23 million today. Son George W. Bush entered office with $20 million. Now, he has an estimated $35 million.”
“Richard Nixon had $15 million at the time of his death in 1994, a $13 million improvement from when he took office in 1969. Gerald Ford spent just three years as president, entering office in 1974 with $1.4 million in net worth. He’d amass another $5.6 million to reach $7 million by the time of his death in 2006.”
And check out this video: