Posted on

The Obamas are worth 30 times more than when they entered the White House in 2008 — here’s how they spend their millions

Obama FamilyPool/Getty Images

Barack Obama’s net worth is estimated to be $40 million.
Aside from the six-figure pension he receives as a former president, Obama has made millions from speaking engagements and his best-selling books.
While Obama spends his money in various ways, he loves to donate to charity and take vacations with his wife, Michelle. 

Former President Barack Obama is a busy guy.

From speaking at events around the world to writing a memoir and, most recently, signing a massive production deal with Netflix, Obama’s life after the White House has been full and very lucrative.

These endeavors — along with the six-figure pension all former presidents receive — have significantly contributed to Obama’s estimated net worth of $40 million.

From the time he joined the US 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.

From philanthropic efforts to vacationing where the sun shines to making long-term investments in his daughters’ education, here’s how Obama spends his fortune.

The Obamas entered the White House with a $1.3 million net worth in 2008. That has since grown to an estimated $40 million.
AP

Source: American University, CNN Money, GoBankingRates

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.
Chip Somodevilla / Getty Images

Source: Forbes

Obama earned $400,000 a year during his eight years as president, and he earns an annual pension of about $200,000 as a former president.
Milos Bicanski/Getty Images

Source: GoBankingRates

See the rest of the story at Business Insider

See Also:

We asked 17 people on the street in New York City how much money it takes to be rich, and almost all of them said the same thingThe 25 richest American families, ranked7 signs you’re not ready to move to a new city, even if you think you are

SEE ALSO: From a 58-bedroom estate to a helicopter fleet, here’s how the Trump family spends their billions

DON’T MISS: 17 financial perks of being the president of the United States


Read more: feedproxy.google.com