Barack Obama has amazingly managed to increase his net worth by a whopping 438 percent over just eight years, since he first ran for office back in 2007.
Then, the now-president, was worth $1.3 million, having been a senator from Illinois before becoming the 44th president of the United States. He served three terms in the 13th district in Illinois Senate from 1997 to 2004.
According to the Celebrity Net Worth website, Obama’s current net worth is $12.2 million, which is a serious amount of money, and strangely high if you consider the massive percentage increase over eight years.
The International Business Times reported back in 2014 that Barack Obama and first lady Michelle Obama listed their assets which were worth around $2 million and $ 7 million for 2013.
So the big question is: Where does Barack Obama’s net worth come from?
Well, firstly there’s the annual income of $400,000 which any president of the United Sates is entitled to, but if you you do the math, that doesn’t represent anything close to the reported 438 percent increase in his net worth.
Then there’s also the royalties he gets from books he has written, including Dreams from My Father: A Story of Race and Inheritance, The Audacity of Hope, and Of Thee I Sing: A Letter to My Daughters.
Previous reports noted that Obama’s net worth skyrocketed when he delivered his keynote speech at the 2004 Democratic National Convention, where he caught the public’s attention in a big way.
Due to the fame that followed that impassioned speech, in 1995, his book, Dreams from My Father: A Story of Race and Inheritance, sold off the shelves and his net worth increased to a healthy $1.7 million.
Then in October 2006, after his second book, Audacity of Hope, was released, Obama’s income grew to $4.2 million after selling millions of copies of the book.
Barack Obama’s net worth also comes from various wise investments he made, which are valued between $180,000 and $482,000.
And while Barack’s net worth is around the $12.2 million mark, his wife, Michelle Obama’s net worth stands at $11.8 million.