[ad_1]
After serving as President of the United States, Barack Obama and his wife Michelle made millions. With their marketing, the Obamas even overshadow Donald Trump.
Barack and Michelle Obama are one of the most popular couples in America. After Barack Obama’s second term as president of the United States, the popularity of the Obama family dipped. Obamas present themselves as a loving couple in public, are close to people, and always exude a down-to-earth attitude. In this political staging, you are the opposite of the still current President of the United States, Donald Trump, who shows off his billion-dollar fortune and economic success.
Barack Obama helps kids in Washington swing: Obamas like to be around people, a secret to their success. (Source: imago images)
But Barack and Michelle Obama also run a highly successful family business. With lectures, books, and especially Netflix documentaries, the couple made many millions in the last four years. No end in sight, in the medium term, Barack Obama could become one of the richest former presidents of the United States.
With comparatively little money in the White House
At the same time, when the Obamas moved into the White House in 2009, their wealth was low compared to other presidential couples. The business magazine “Forbes” assumed 1.2 million US dollars. For comparison: Donald trump was worth $ 3.1 billion when he moved into the White House, the fortune of the US president-elect. Joe biden it is estimated at more than $ 9 million. too George W. Bush He already owned $ 20 million from a job in the oil sector.
The Obamas and the Bidens in the 2008 presidential campaign: Biden was elected the 46th president of the United States in 2020. (Source: Reuters)
Obama’s economic rise began with Barack’s candidacy for the United States presidency. The civil servant in the United States receives an annual salary of US $ 400,000, plus book income for Barack and Michelle. When they moved out of the White House in 2017, they were said to have a fortune of nine to ten million US dollars, Forbes writes. Has against Triumph So far he lost a billion dollars during his tenure, which “Forbes” attributes to the corona pandemic. His fortune is currently based on $ 2.1 billion estimated.
The Obamas are collecting millions
With the withdrawal of the front line of politics, the Obamas’ rapid financial rise began and the family business exploded. That’s not just because of the $ 200,000 a year presidential pension. Compared to the rest of the income, it seems small.
Conferences in companies and organizations are particularly lucrative, with relatively little effort. Barack Obama raised between $ 800,000 and $ 1 million for a one-hour event. Trump did the same before his stint in the White House. From time to time he appears as a speaker at New York’s renowned institute of higher education “The Learning Annex,” the cost of a one-hour presentation is $ 1.5 million.
The second great pillar of Obama’s book continues to be contracts. The first volume of Barack’s autobiography, titled “A Promised Land,” was published Tuesday. In nearly a thousand pages, Obama recounts his childhood, his unstable youth, his political rise and the first of two terms as president.
Only the book deals broke records, and publishers competed for the rights to the couple’s autobiographies. In the end, Penguin Random House, a subsidiary of Bertelsmann, won the bid. The publisher is said to have paid an advance of $ 65 million for three books. For comparison: Bill Clinton received $ 15 million for his memoirs, Bush $ 10 million.
Obama depends on Trump on the books
Publishers’ financial investment is worth it. Michelle Obama’s autobiography “Becoming,” published in 2018, has sold 1.5 million copies in the first week and 15 million to date. Barack’s book is also a best-seller even before its publication.
The Obamas clearly outshine Donald Trump. Trump’s only half-successful book, “The Art of the Deal,” is a mix of personal recollections and advice. He made about a million dollars in royalties for it. But: Unlike the Obamas, Trump doesn’t write his books himself, so he has to pay royalties to the authors.
Barack and Michelle ObBarack and Michelle Obama in a Netflix documentary: Their films are also produced by Obama’s own company. loves in a Netflix documentary: His movies are also produced by Obama’s own company. (Source: imago images)
But the Obamas don’t just make money off their books. The former first lady even won a Grammy for the audiobook she read in her autobiography. The Obamas also signed a very outdated contract with Netflix, and the production volume of Obama’s films is estimated at $ 50 million. The documentaries are produced by the former presidential couple’s own company.
Books, lectures, movies, podcasts. People in the US and around the world are vying for any aspect of the Obamas. When it comes to marketing, they are unique in its class, as shown reading tour of Michelle in 2018. They filled stadiums full with 20,000 people and visitors paid up to $ 3,000 for the best seats. The former first lady received 800,000 per appearance, her earnings from the five-week US tour: $ 10 million.
How big is your fortune?
All of these projects add millions to the family budget, and at age 59 and 56, respectively, Barack and Michelle Obama are comparatively young compared to other ex-presidential couples. Right now, according to Forbes, his fortune is increasing $ 135 million estimated. According to the American University, they have potential revenues of more than $ 240 million.
After their time in the White House, the Obamas bought a house in Washington: it has ten bedrooms and eight bathrooms. (Source: imago images)
The Obamas are already playing in a different league than many other former presidential couples. Until now, Bill and Hillary Clinton were considered the highest earners in the United States after leaving the White House. In 2017, Bill was valued at around $ 80 million and Hillary Clinton contributed an additional $ 45 million.
The Obamas have built a successful family business. They are their own recipe for success, their appearance is interesting to fans and in their books they also reveal personal things. Many people find him honest, personable, and approachable. That is exactly what makes them stand out among ex-presidential couples.
In addition, there is the social commitment of its foundations, donations of millions for children in need or disadvantaged neighborhoods of Chicago. The Obamas have become billionaires in recent years, but publishers, bookstores, and streaming services also benefit from this. Ultimately, financial success is also the result of hard work.
