It's been five years since former President Barack Obama and former first lady Michelle Obama bid adieu to the White House. As the country's first Black head of state, Obama revolutionized the position and inspired a future generation of activists, thinkers and commanders-in-chief. On the other hand, his loyal companion used her role to advocate for women, underprivileged youth and other minority groups.
Since their departure, the couple has been hard at work, and their growing net worth proves it. In 2018, their combined estimated net worth was reported to be $40 million. That includes the $200,000 annual pension former presidents receive. Thanks to a lot of successful endeavors, that figure has more than tripled, with the New York Post estimating it at $135 million.
Read on to find out how one of America's favorite couples continues to secure the bag.
The Obamas secured a combined $65 million book deal in 2017.
The Obamas left the White House in 2017 with heavy anticipation of their next steps. It's customary for former first couples to pen autobiographies of their time before, during and maybe even after their term ends. Several companies submitted their pitch to publish each of their books. Per Vox, Penguin Random House ultimately got the bid in a deal that was reportedly worth an unprecedented $65 million.
FLOTUS' 2018 book, Becoming, is on track to become the best-selling memoir in history. It subsequently led to a documentary that premiered on Netflix in 2020. The former first couple also inked a deal with the streaming service to produce a number of original products, a deal the New York Post estimated to be worth at least $50 million.
Obama earned as much as $400,000 for one speaking engagement.
In April 2017, CNBC reported that shortly after leaving the White House, Obama agreed to deliver the keynote address at investment bank Cantor Fitzgerald's health care summit. This also came two months after the aforementioned note of the $65 million book advance for the couple's autobiographies. According to Yahoo Finance, the father of two delivers around 50 speeches annually at an honorarium of $200,000 each.
Michelle Obama's honorarium is slightly lower.
Though she doesn't earn $400,000 for her services, Mrs. Obama's speaking fees still push close to a quarter-million dollars. Per The New York Post, companies would need to budget out at least $225,000 for her to grace the stage at their event. The publication noted that in 2017, the Harvard-educated lawyer was compensated $225,000 to speak at the Pennsylvania Conference for Women.
The Obamas are also very charitable individuals.
As the saying goes, it's always better to give than to receive. Barack and Michelle Obama certainly exemplify that phrase. In a February 2017 write-up, Forbes noted that while in office, Obama donated more than $1 million. A nonprofit that provides support to families of veterans, Fisher House Foundation, was the main beneficiary of his endowment and received $392,000. Other organizations included the Boys & Girls Club, Mosaic Youth Theatre of Detroit and Midtown Educational Foundation, which afforded improvement projects for underprivileged adolescents in Chicago.
As evidence, the Obamas are as generous as they are successful. Through an incredible amount of hard work and perseverance — and with millions of excited fans excited to watch their every step — their successes and subsequent combined fortune will undoubtedly continue to accelerate.
