Barack Obama and Michelle Obama’s net worth has been recently estimated, and it’s left some people quite upset. Here are the details.
According to Business Insider’s reports, the Obama family comes from more humble beginnings, and now it seems that the former president and the first lady are worth around $40 million which is 30 times more than when they entered the White House back in 2008.
The new led to some people who may reportedly be Trump supporters to throw shade over the Obama family on social media. They are accusing the former president of being a thief and forgetting all about the people in Chicago.
People should remember that Obama was raised by a single mom and his grandparents and he worked his way through college.
What is Barack Obama's net worth? See how Obama spends his …. https://t.co/a2xn89DORm
— US President News (@President) August 3, 2018
By 2004, he earned a salary of $60,287 from the Illinois State Senate and $32,144 as a law professor at the University of Chicago, claims Time.
By 2005, he and his wife had barely finished paying off their student loans.
The family donated over $1 million while they were in the White House, says Forbes.
Most of the money was donated to support charities that help children.
Back in 2017, after leaving office, the couple donated $2 million to summer jobs programs in Chicago, among more important contributions.
The Obamas’ net worth was about $20 million, from the time Obama became a U.S. senator in 2005 to the end of his presidency.
Forbes also reported that the wealth came from the former president’s salary, book royalties, and investments as well.
After they left the White House, Barack and Michelle increased their wealth from various book deals and lucrative speaking engagements. They also signed a production deal with Netflix.