How much money do Barack and Michelle Obama have? | The State
Barack Obama earns $ 3.75 for each hardcover copy of his first book he sells.
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Barack Obama is a former senator from Illinois and the 44th President of the United States. Obama served one term in the Illinois Senate and is the first African-American president of the United States.
His wife, Michelle Obama, is a lawyer, writer, and former First Lady of the United States. Between the two of them, they have a net worth of $ 70 million., according to Celebrity Net Worth.
It should be noted that the Obamas were not rich for much of their adult life. They became millionaires for the first time in 2005.
Between 1991 and 2004, Barack never earned more than $ 30,000 from his work as a teacher and state representative. Most of the Obama family’s income during that time came from the salary of Michelle, who worked as a lawyer.
In 2005, Barack’s income increased to $ 157,100 when he became a United States Senator. In the same year, Michelle earned $ 273,618, and in 2005, her total income was $ 1.65 million.
In 1995, Barack wrote his first book ‘Dreams from My Father: A Story of Race and Inheritance‘. The book was not particularly popular for the first 8 or 9 years of its release, but in 2004 the book gained fame thanks to Obama’s recognition as a politician, which helped them to have a large income in 2005.
Barack’s second book, “Audacity of Hope,” published in October 2006, was a huge success, selling millions of copies and skyrocketing Obama’s revenue to $ 4.2 million in 2007.
To this day, Barack Obama earns $ 3.75 for each hardcover sold and $ 1.12 for each paperback. Royalties remained high in 2008, 2009 and 2010.
In February 2017, Barack and Michelle Obama received a $ 60 million advance for the combined rights to their autobiographies.
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