Andrew Harnik/AP Photo
- Barack Obama makes his money from a six-figure pension, public speaking, and his best-selling books.
- His latest memoir, "A Promised Land," sold nearly 890,000 copies within 24 hours of its release.
- While Obama spends his money in various ways, he notably gives to charity and takes family vacations.
Former President Barack Obama and Michelle Obama are a busy couple.
From speaking at events around the world to writing memoirs and signing a massive production deal with Netflix, the Obamas' life after the White House has been full and highly lucrative.
For her part, Michelle Obama's first memoir, "Becoming," was published in November 2018 and became that year's No. 1 best-selling book.
Her second book, "The Light We Carry: Overcoming in Uncertain Times," was published in November 2022 and also became a bestseller.
And the former president's latest memoir, "A Promised Land," sold nearly 890,000 copies within 24 hours of its November 2020 release.
These endeavors — along with the six-figure pension all former presidents receive — have significantly contributed to the Obamas' net worth, which is at least $70 million, according to International Business Times.
The New York Post pegged their fortune much higher, at $135 million.
From philanthropic efforts, to vacationing where the sun shines, to making long-term investments in their daughters' education, here's how the Obamas spend their money.
AP
That has since grown to at least $70 million, according to International Business Times.
Source: American University, CNN Money, International Business Times
Chip Somodevilla / Getty Images
From 2005 (when Barack Obama joined the US Senate) to 2016, the Obamas earned a total of $20.5 million from his government salary, book royalties, investment income, and Michelle Obama's income from her job at University of Chicago Hospitals before she became the first lady.
Source: Forbes
Milos Bicanski/Getty Images
Obama earned $400,000 a year during his eight years as president, and he still earns an annual pension of about $200,000 as a former president.
Source: GoBankingRates
Solaris Images/Getty Images
From 2005 to 2016, Obama earned $15.6 million in advances and royalties from his books "The Audacity of Hope" and "Of Thee I Sing: A Letter to My Daughters" and royalties for "Dreams From My Father."
Source: Forbes
Chip Somodevilla/Getty Images
In 2017, he and Michelle signed book deals worth at least $60 million to each write their own memoirs.
Source: Business Insider
Richard Drew/AP Images
"Becoming" was published in November 2018. As of July 2022, it had sold more than 17 million copies worldwide.
The Guardian said that it sold nearly nine copies per second on its first day on sale in North America.
Chip Somodevilla / Getty Images
This included mugs that retailed for $20 and candles that retailed for $35.
Source: New York Post
Jose Luis Magana/AP Photo
Her second book, "The Light We Carry: Overcoming in Uncertain Times," was published in November 2022. It took the top spot on USA TODAY's best-selling books list in its debut week.
Source: USA TODAY
Jamie McCarthy/Getty Images
"A Promised Land," which was published in November 2020. By the end of the year, it had sold 3.3 million copies in the US and Canada.
Source: AP News
Mark Wilson/Getty Images
In 2018, they signed a production deal with Netflix, which is estimated to be $50 million.
Source: New York Post
Invision/Chris Pizzello via Associated Press
It was released on May 6, 2020.
Source: CNN
Scott Olson/Getty Images
Source: CNBC
Thibault Camus/AP Images
Obama reportedly earned a hefty sum for speeches to Northern Trust Corp. and the Carlyle Group, and a minimum of $1.2 million for three talks to Wall Street firms in 2017.
Source: New York Post
Jonathan Bachman/Getty Images
Source: New York Post
Frank Franklin II/AP Images
Tickets to her 2018 book tour stop at Barclay's Center in Brooklyn ranged from $307 to $4,070.
Source: New York Post
Erika Goldring/Getty Images
Michelle announced plans in 2019 to host an exclusive podcast with Spotify. 'The Michelle Obama Podcast' looked at interpersonal relationships and debuted in July 2020.
She has an upcoming series, 'Michelle Obama: The Light Podcast,' which will premiere on Audible in March.
Jonathan Ernst/Reuters
All things considered, the Obamas could stand to earn as much as $242.5 million in their post-presidency life, American University estimated in 2017. But here's how they've spent their fortune so far ...
Source: American University
Pool/Getty Images
In 2007, Obama purchased Bright Directions age-based growth plans, each worth $50,000 to $100,000, to pay for Malia's and Sasha's college education. Malia started at Harvard in fall 2017, while Sasha started at the University of Michigan in fall 2019.
Source: Business Insider, Town and Country
Pool/Getty Images
They needed a new place to live after leaving the White House, so they purchased an 8,200-square-foot mansion in Washington, DC, for $8.1 million after previously renting it.
Source: The Washington Post
Harrison Jacobs/Business Insider
The more expensive home belonged to Jeff Bezos, and it was a former textile museum turned mansion.
Source: The Washington Post
Getty Images
In addition to their residence in Washington, DC, the Obamas still own their home in Chicago's Hyde Park neighborhood that they bought for $1.65 million in 2005. They took out a $1.3 million mortgage on the home. It's valued at about $2.5 million.
Source: Chicago Tribune, Cook County Assessor's Office, Cook County Recorder of Deeds
Courtesy of LandVest
According to the report from the Vineyard Gazette, the 6,892-square-foot house sits on nearly 30 acres overlooking the Edgartown Great Pond.
Source: Vineyard Gazette
Getty Images
The Obamas have enjoyed several vacations since leaving the White House. They first headed to Southern California and eventually made their way to Necker Island, where Obama was spotted kitesurfing with Richard Branson.
Sources: Business Insider, Time
Chris Carlson/AP Photos
In French Polynesia, Obama checked into a luxury resort called The Brando. A night there in a one-bedroom villa can cost anywhere from $3,034 to $4,318.
Source: Time, The Brando
Antara Foto Agency/Reuters
The Obamas have also been spotted on David Geffen's yacht with Oprah, Tom Hanks, and Bruce Springsteen at a wine tasting in Tuscany and river rafting in Indonesia.
Source: Business Insider, Time
Jacquelyn Martin/AP Photos
That's because the General Services Administration is required to provide a former president with enough money to cover travel and business expenses.
Source: Business Insider
Reuters
Source: Business Insider
MediaPunch/AP Photos
She has worn pieces from Naeem Khan and a Versace gown worth an estimated $12,000 for special events as the first lady. Michelle is also known for her casual, relatable style. She's often been spotted in affordable brands like J. Crew, Target, and Converse.
Source: New York Times, Business Insider
Elise Amendola/AP Images
The couple was once spotted attending a Beyoncé and Jay-Z concert.
Source: Business Insider
Pablo Martinez Monsivais/AP Photos
Michelle opts for a bag lunch, like turkey chili, over eating out, the former president's chief of staff told People magazine in 2017. And she's a regular at SoulCycle, which costs $36 a class or $900 for 30 classes.
Source: People
Pool/Getty Images
From 2009 to 2015, they gave $1.1 million to charity, Forbes reported.
Source: Forbes
Pool/Getty Images
They donated to charities focusing on African-American causes, veterans, disaster relief, homelessness and housing, and health.
Source: Forbes
Pool/Getty Images
The donations totaled $392,000 from 2009 to 2015.
Source: Forbes
Chip Somodevilla/Getty Images
The Obamas donated more than $64,000 to 34 charities, Time reported, citing tax returns.
Source: Time
Pool/Getty Images
Source: Business Insider
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