[ad_1]

How former president Barack Obama accumulated his wealth

Stellar Snippets

Barack Obama is a former Senator from Illinois and the 44th President of the United States. He is also the first African American President of the United States.

White Scribbled Underline
White Scribbled Underline

Before his venture into politics, Obama earned his law degree from Harvard Law School, where he made history as the first African-American president of the Harvard Law Review.

White Scribbled Underline

He met his wife Michelle Obama in 1989, and is journey in politics began in the Illinois State Senate, where he served from 1997 to 2004. 

White Scribbled Underline

From 1991 to 2004, Barack's income rarely exceeded $30,000. Most of the Obama family's earnings during this period came from Michelle's prosperous legal career.

White Scribbled Underline

Barak wrote his first book in 1995, and it was not popular for the first few years, but after his 2004 DNC keynote speech, the book exploded in popularity. 

White Scribbled Underline

This led to a significant royalty windfall for the Obama family that showed up as income in 2005. 

White Scribbled Underline

In 2006, the Obamas earned $916,000. Barack's second book, "Audacity of Hope," released in October 2006, became a huge success and boosted their income to $4.2 million in 2007.

Even now, Barack Obama continues to earn $3.75 for every hardcover copy and $1.12 for every paperback he sells. Royalties remained strong in 2008, 2009, and 2010.

White Scribbled Underline

As President, Barack Obama received a $400,000 annual salary. Together, the Obamas are worth $70 million.

White Scribbled Underline
[ad_2]