Barack Obama is a politician and author who once served as the 44th president of the United States of America. He is a Nobel Peace Prize winner and was the brains behind several acts including the Obamacare, Project Vote, and etc. For this piece, let's take a closer look at Barack Obama's net worth in 2023.

Barack Obama's net worth in 2023 (estimate): $70 million

Barack Obama

Barack Obama's net worth in 2023 is $70 million. This is according to reputable outlets such as Celebrity Net Worth.

Barack Obama was born on August 4, 1961 in Honolulu, Hawaii. At a young age, Obama and his family lived in Jakarta. Here, he attended St. Francis of Assisi Elementary School before transferring to State Elementary School Menteng 01 and Calvert School. Afterward, Obama migrated back to Hawaii, where he continued his education at Punahou School.

In 1979, Obama completed and graduated from his high school education. For his efforts, Obama earned a scholarship to attend Occidental College in Los Angeles. During his third year, he transferred to Columbia University, where Obama eventually earned his Bachelor of Arts degree in political science, majoring in international relations.

Post university life

After graduating from university, Obama worked several jobs. He served as a financial researcher for Business International Corporation. In addition to this, Obama also had a stint as a project coordinator for the New York Public Interest Research Group.

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Since then, Obama started to work for various foundations. He served as the director of the Developing Communities Project. According to sources, Obama received a starting salary of $12,000. Months later, the pay bumped up to $20,000. Three years later, he was raking in at least $35,000 in annual salary. Aside from working for the Developing Communities Project, Obama also worked as a consultant for the Gamaliel Foundation.

After working for various organizations, Obama decided to attend law school. Although he received a scholarship offer from Northwestern University, Obama opted to study in Harvard Law School. Here, Obama completed his law school education with a Juris Doctor magna cum laude.

Teaching at University of Chicago Law School

Now a legitimate attorney after completing Harvard Law School, Obama decided to become a lecturer for University of Chicago Law School in 1992. Based on reports, Obama earned an annual salary of $32,144. In his first four years, Obama worked as a lecturer before being promoted to senior lecturer in his final years during his stint as a lecturer in the law school.

Working as a Civil Rights Attorney

While serving as a lecturer for the University of Chicago Law School, Obama plied his time by also serving as an associate for the law firm Davis, Miner, Barnhill, & Garland. According to Wall Street Journal, Obama was paid $165 per hour. Additional reports say Obama registered a total of 3,723 hours. This could mean that Obama earned at least $614K in his stint with the firm.

Illinois Senate

In 1996, Obama was elected to the Illinois Senate, before becoming re-elected two years later and in 2002. Some of his notable works include becoming the chairman of the Illinois Senate's Health and Human Services Committee.  The Illinois Senate reportedly paid Obama an annual salary of $80,287. He worked in the Illinois Senate from 1996 to 2004.

U.S. Senate

Obama eventually resigned from his position in the Illinois Senate, which paved the way for his election to the U.S. Senate. This increased his annual salary to $165,000, based on sources. Some of his works as a senator include sponsoring the Secure America and Orderly Immigration Act, introducing the Strengthening Transparency and Accountability in Federal Spending Act, introducing the Honest Leadership and Open Government Act, etc.

U.S. Presidency

In 2009, Obama was successfully inaugurated as the 44th President of the United States of America, after a successful presidential campaign in 2008. He eventually got re-elected in 2012. In fact, Obama served as president of the country from 2009 to 2017. As president of the United States, Obama bagged an annual paycheck of $400,000. Some of his notable contributions include signing the Don't Ask, Don't Repeal Act, lifting of the travel ban on individuals infected with HIV, the American Recovery and Reinvestment Act, and etc. His main highlight is signing the Affordable Care Act or the Obamacare, which provides healthcare coverage to uninsured American citizens.


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Nobel Peace Prize

During the same year he was inaugurated as the 44th President of the United States, Obama was also awarded a Nobel Peace Prize.  Obama was only the fourth U.S. president to win the prestigious award. As a Nobel Peace Prize winner, Obama received $1.4 million in prize money. However, he used most of the prize money for 10 different charities, according to a report by Reuters.

Lucrative book deals

In 1995, Obama released his first book called Dreams From My Father. Although the initial release didn't see the book do particularly well, his election as president ultimately boosted its sales. In fact, Random House eventually re-released the book years later. For the re-release, Obama enjoyed a $500,000 book advance just before he was sworn into office. The audio version of Dreams From My Father also earned Obama his first Grammy Award win for Best Spoken Word Album.

In 2006, Obama released his second book called The Audacity of Hope. For the book, Obama received a $1.9 million book advance. The Audacity of Hope and Dreams From My Father would combine for 7.5 million unit sales in domestic revenues, as per reports. Furthermore, Obama would earn another Grammy Award win for The Audacity of Hope's audio version.

Obama's other books include Of Thee I Sing and A Promised Land. A Promised Land would garner 3.3 million unit sales across US and Canada, according to sources. Furthermore, it's worth noting that Obama scored a $65 million book deal with Penguin Random House for a presidential memoir.

Nevertheless, were you at all stunned by Barack Obama's net worth in 2023?