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A new estimate of former President Barack Obama and his wife Michelle Obama‘s net worth has some folks pretty upset, as they look the other way while Trump allegedly uses the presidency to make money.

The Obama family came from humble beginnings, but now the ex-president and first lady are worth about $40 million—30 times more than when they entered the White House in 2008, the Business Insider reported.

That news prompted some people, presumably Donald Trump supporters, to spew hate for the Obamas on social media, accusing the former president of being a thief and forgetting people back in Chicago.

However, there’s no truth to that view.

Obama, raised by a single mother and his grandparents, worked his way through college. 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, according to Time. By 2005, the future president and his wife had “barely finished” paying off their student loans.

Yet, the Obamas donated more than $1 million while they were in the White House, Forbes reported, most of it to support charities that help children. In 2017, after leaving office, the couple donated $2 million to summer jobs programs in Chicago, among other significant contributions.

Where did their money come from? The Obama’s net worth was pegged at $20 million, from the time Obama became a U.S. senator in 2005 to the end of his presidency. That wealth came from the former president’s salary, book royalties and investments, according to Forbes.

Since leaving the White House, the Obamas have increased their wealth from lucrative speaking engagements and book deals, as well as signing a production deal with Netflix.

Meanwhile, the New York Attorney General’s office filed a lawsuit in June against Trump, who was born with a silver spoon in his mouth, and the Donald J. Trump foundation for multiple violations as a charitable nonprofit. At the same time, Trump faces lawsuits that accuse him of unconstitutionally using his office as president to make money.

 

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The Obama’s Wealth After Leaving The White House Has Some People Upset was originally published on newsone.com

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35 thoughts on “The Obama’s Wealth After Leaving The White House Has Some People Upset

  1. Christianforreal on said:

    The Obama’s deserve every penny they have received, Because they have EARNED those pennies. As president, Obama did quite a bit for the community, including the Black community. If you can’t remember the policies implemented by Obama, take a look at EVERY policy that Trump has reversed or overturned or is trying to overturn. You can bet it was a policy implemented by President Obama. There is a story about in this segment of BAW news that references a bill implemented by Obama to stop the judicial system from using poor folks (Black included) to fund cities’ and states’ monetary funds by charging them more money when they are too poor to pay fines imposed upon them. Many of our people are in jail because they couldn’t afford the fine imposed upon them and then, naturally they could ill afford the bail imposed upon them, so they spend many months or years in jail and lose the jobs or other sources of income that they may have had prior to the jail time imposed. Herein lies one of the latest projects of Trump, to overturn that bill. Why??? Why would a president who is supposedly about the people overturn policies and bills that help the people, his America, from being abused and exploited? Because these people are not a part of the elite and rich white population that he prefers! Former President Barack Obama and his wonderful partner Michelle, deserve every good thing that God has given them!

  2. Rebel for a cost on said:

    One of black people biggest problem is that slave mindset, it’s alright as long as master making all that money off your hard work, God forbid if a black man just happens to reap a little bit of anything that maybe good. smh

  3. Alice on said:

    The Obama’s have every right to do whatever they want with their money. They both worked hard and they both deserve every penny. I am just as proud of them today as I was the first day they became President and First Lady. I wish them all the success in the world and beyond. They are prime examples of what can happen when you never give up on your dreams and goals. Best President and First Lady to ever grace the White House. Blessings Always!

    • Went through the list. Do you seriously call this achievements or failures dressed up as achievements. That ridiculous Iran deal and job destroying Regulations you call them achievements? Well is as dumb does. You are dumb, you need some medication to kick start your thinking. There nothing in there for the black community who voted heavily for him. The guy is a fraud, period!

      • Manetric Douglas on said:

        My feelings are real hurt that you think I’m dumb…not. What I do know is for that Iran deal it took many countries to get the sanctions that we’re on them in place. America couldn’t have done it alone so that meant we had to do stuff that Russia, China and others would agree too. You call President Obama a conman look at the bastard we have that’s conning yo behind as we speak and got the nerve to call someone else dumb and that they need to take medication. Have a seat and have a blessed day.

    • I can go to the internet and pull all of this up as well.I did a long time ago. Still, all the work the young, ethnic groups, celebrities did to get him into office.Our savior. That’s the roots of this county-the people whom really needed him and worked to get him there. No one questions his ability to make money. Defend him all you want. But, as I indicated earlier: Let me know when the next African American runs this country. Not during this life time and everybody knows it.

      • Manetric Douglas on said:

        It was asked what had President Obama done for black folk/America and I answered. He’s my President I only have one savior. And lets not forget some black folk dropped the ball during the midterm and republicans got control of both houses so he could not get anything passed that would help “black people”. I don’t know about ya’ll but I have two boys that have to get echocardiograms, x-rays, ultra sounds of their heart etc every year and if Obamacare AKA Affordable Care Act hadn’t passed I would be bankrupt and struggling not needlessly. Is it perfect for everyone? NO, but people had unrealistic expectations for the 1st black president. Maybe if people voted like they should every election many of us wouldn’t be so let down. But we vote and then complain instead of holding bastards accountable (white and black). We harder on black politicians then white ones when they both should be held to the same standard.

  4. I have no problem whatsoever with the Obamas reaping a mountain of cash from their post-WH engagements. I have no qualms with Trump extending his empire either, assuming there is concrete evidence that he is doing this and breaking the law. My only beef is that our community voted overwhelmingly twice to get and keep Obama in the WH and it was not too much to expect, like the LGBT community and Latino community, that the lot of our community would improve. Well, I am still struggling to find out what he achieved for our community. He did well for the LGBT folks, he did well for the Latino with the DACA even if he holds the record of having the highest deportation rate for black immigrants in his time as president. Where exactly is his lasting legacy for the betterment of our community? Minister Farrakhan even admitted that Obama has not earned his place in the black community. This is what drove me to dump the Democrats (I would NOT be pimped out to Hillary by voting for her because Obama said so). Trump is not perfect but I reckon I have nothing to lose really by going GOP after 8 wasted years under Obama. Just look at the terrible carnage going on in Obama’s backyard. All the black folks killed by the cops under Obama and a black Attorney General and no one was prosecuted. For me, it is difficult not to feel a deep sense of betrayal by Obama and for that I call him the con from Chicago. There are certain kinds of politicians like him, they con people with sweet words but they will leave you with nothing all they are interested in is their personal political advancement. It is sheer stupidity to celebrate such unsavory characters and the problem is that a good number of those in our community seem not to realize that they have been conned they keep celebrating and defending the con and is it any wonder that the larger political establishment thinks our folks are stupid and can be easily taken advantage of and are incapable of deep reflective thought? Conman Obama, keep your millions and let me keep my integrity.

  5. chilirue on said:

    I agree they are both ‘highly’ educated and ‘intelligent’ individuals. They should be paid what they are worth. If someone wants to hire for expertise you have to pay the price. If not we see what we get the alternative. It is not a pretty picture.

  6. What did Obama really do for us (Blacks) while in office? That is something people don’t talk about. Now, he’s reaping the benefits. Let me know when we have another African American running this country.

  7. Niecee on said:

    The Obamas are living their life to the fullest. They didn’t cheat anyone and didn’t abuse the system. Number 45 is staying at his own properties and is collecting monies to stay there. Isn’t that double dipping?

  8. And this ladies and gentleman is how much the LGBT rights cost. Follow the money. Here it is. For the stroke of the pen on LGBT administrative policies, it was all paid for.

    • Manetric Douglas on said:

      You do realize many of our skin folk are apart of the LGBTQ family whether you agree with their values or not?

  9. Marilyn, God bless yo’ bones but you are being so delusional. You are right; 45 is not trying to take away anyone’s freedom – – he has appointed minions in the form of cabinet members and judges to do the dirty work. He has done nothing but caused divisiveness among people through so many angles and has instituted policies directly negatively affecting people of color for which, on judgment day, he will have to answer for it all. Perhaps you should be telling him to open his heart and let go of his bigotry.

    • Mac Daddy on said:

      Can you please cite the policies instituted by this administration that you feel are directly impacting black people negatively? Additionally, equate how those policies single out blacks. Thanks in advance

  10. Marilyn on said:

    Sir , you need to stop and review what you have said pls. Our president is not trying to take your fredoms away. He is working hard to improve all americans lives. You have been lied to by many dems and socialists. Open your heart and mind and let go of the hate. God bless you sir.

    • @Marilyn – “OUR PRESIDENT?!” He is not our president! He has done nothing for “our” people! He insults “our people” EVERY chance he gets! Hell, he doesn’t even care about “your” people – unless they are rich and praising him! The man is a petulant child who must have some one saying nice things about him in order to function! Trump is a straight out racist and if you can’t see that then I feel sorry for you and others like you. As it has been said – he has put other racists in place to do his dirty work! EVERY THING Obama put in place to help ALL the people – Trump Reversed and all of you Trump Cult Members KNOW this to be true!

  11. These must be the same folks, who NOW MAKE UP CHUMPS BASE—RACIST TURDS!!!!!!!

    Funny, how NO ONE got UGLY about all of the $$$$ Bill and Hillary Clinton both generated by making public appearances and getting paid big bucks to appear!!!!!!!!!!

    GO SIT DOWN ALL OF YOU HATERS!!!!!!!!!!!!!!!!!

    LIVE AND LET LIVE!!!!!!!!!!

    • Sirron107 on said:

      L you are absolutely right when other president made a large sum of money no one said jack. The Clintons made 75 Million after his Presidency, Lyndon Johnson made $108 Million. Soon as a President Obama gets a little close to making the same amount or more there is an issue.
      When they go low you go high. Words from Michelle Obama

      • Why is it anyone else’s business how much money these people make? Mr. and Mrs. Obama are living their lives, enjoying themselves and not bothering anyone. Why can’t they just be left alone?

      • Manetric Douglas on said:

        Cuz we got a lot of bitter negros that probably didn’t vote in the midterms and believed all the hype about our Savior instead of realizing that regardless of who the president was if we didn’t have control of congress and the senate nothing would happen. The republicans obstructed the hell out of the Obama administration and folks got the audacity to blame him for more not being done to help all struggling folks. I don’t wanna just help my people, I want to help all people because I don’t want to be like the racist white people that only elevate their own.

  12. The Truth on said:

    45 has several bankruptcies, fraud college,want let Dumb America see his taxes because his ties with Russia. Using the hill for a cash cow and buying any and everyone he could for a dollar. President Obama better Not be y’all concern but pay attention to the trying to destroy your livelihood and your freedoms.

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