Barack Obama, who was elected the 44th U.S. president in 2009 and served as the POTUS for another term, is a stunning orator whose gift of the gab adds to his profound aura. Obama's net worth while he assumed the Oval Office in the White House was $1.3 million.
Now, 15 years later, that figure is estimated to be $70 million.
Oratorical skills
Obama's rousing speeches, which also played a key role in his win at the U.S. Presidential polls, is a key factor that could have boosted his income. Obama was an automatic choice to adorn the elite club of former US presidents who commanded astronomical fees for their speeches. For the record, Obama earned a whopping $400,000 in September 2017 for a speech at a function organized by Cantor Fitzgerald, an investment firm, CNBC reported. That figure is akin to the annual wages of the President of the U.S. (POTUS).
And just a month after his second presidential term ended, Obama signed an eight-figure book deal, the NYT reported.
Three of his books commanded huge sums as royalty: $6.8 million from "Dreams From My Father," and $8.8 million from "Audacity of Hope" and "Of Thee I Sing: A Letter to My Daughters.''
Netflix deal
In 2018, Obama and his wife Michelle struck a deal with U.S. streaming giant Netflix for an undisclosed sum. The deal was to produce web series and movies for Netflix. Considering Netflix's deep pockets and Obama's vast popularity, the deal would have involved millions. Netflix was, of course, pursuing a strategy of channeling diverse voices to beef up the entertainment industry's huge potential.
While the Obamas' earnings from the deal were only speculated, media comparisons of similar high-profile deals struck by Netflix during that time can shed some light on the financial aspect of the deal with the former White House couple.
A year before the Obama deal, Netflix brought on board Shonda Rhimes from ABC. That deal was valued at $100 million plus. Ryan Murphy of ''Glee'' fame also quit 20th Century Fox to latch on to the Netflix platform. Variety quoted sources to report that the deal could have been in the range of $300 million.
To tap the Obamas' popularity, Penguin Random House also roped in the former POTUS and FLOTUS for their memoirs. That deal was reportedly in the range of $65 million.
But the Netflix deal also came with its trouble as Obama's film production company, Higher Ground, drew flak for the movie "Living The World Behind." The movie, for which Obama also chipped in with vital script inputs to boost its realism, pans the struggles of two families during a nationwide blackout. Some movie buffs have slammed the film as racist and demonizing Whites.
As Obama's entertainment stint drew flak and applause, it would be worthwhile to take a peek at the top movies of 2023, which had the former U.S. President in awe.
There was no doubt that three of the 13 films that made it to Obama's favorite list were produced by Higher Ground, including the automatic choice, Living The World Behind.
The other 10 movies he rated highly included Christopher Nolan's epic blockbuster movie, Oppenheimer.
Here is Obama's tweet on his favorite movies of 2023, in which he says the strike in Hollywood by actors and writers will transform the industry.
Earlier this year, writers and actors went on strike to advocate for better working conditions and protections. It led to important changes that will transform the industry for the better.
— Barack Obama (@BarackObama) December 27, 2023
Here are some films that reflect their hard work over the last year — including some like... pic.twitter.com/TMH9LeQgsT
Obama, the first Afro-American President of the U.S., was born on Aug. 4, 1961, in Hawaii, where his father, Barack Sr., and his mother, Stanley Ann Dunham, were students. Obama studied political science and international relations at Columbia University and gained attention as the first African American president of the prestigious Harvard Law Review. He married Michelle in 1992, was elected to the Illinois Senate in 1996, and the U.S. Senate in 2004. Four years later, Obama stepped into the White House with Michelle, their daughters Malia and Sasha, and history in tow.
Three of his omnibus bills—to stimulate the U.S. economy, make healthcare accessible, and reform the nation's financial institutions—are a testimony to the profound influence the Nobel Laureate had on the U.S. and humanity in general.
