President Barack Obama and his wife Michelle could make as much as $242.5 million after leaving the White House, which is not bad for a couple whose net worth is already $12.2 million.
Obama is set to receive a cushy lifetime salary of $200,000 a year from the government, a salary that’s four times the average household income in America. On top of the hefty salary, Obama will also get health care coverage, subsidized private travel, and a private office of his choosing. His book deal alone should net him at least $40 million — that number grows substantially when adding in future book deals and speaking events.
Obama leaves the White House with two best sellers to his name already, which will add nicely to the estimated $40 million he and Michelle will receive for his presidential memoirs. He will get around $200,000 a pop for an estimated 50 speeches a year. Adding all book deals, speaking arrangements, and presidential benefits together, the Obamas’ stand to accumulate lifetime earnings of $242.5 million, according to business analytics data from American University.
The Obamas are not strangers to lucrative book deals, as the couple reports living off the proceeds of “Dreams from My Father,” the memoir Obama wrote in 1995, which was re-released during his 2004 bid for the U.S. Senate.
“Before this book started selling we were living in a condo and we had two cars, but one of them was beat up,” Obama told reporters in 2008.
The pair would not be the only presidential couple to gain considerable wealth after leaving the White House, not by a long shot. In fact, eight out of the last 10 presidents had a higher net worth after leaving office, with former President Bill Clinton sitting atop the list.
Clinton, along with former Secretary of State Hillary Clinton, have amassed an estimated $75 million since leaving the White House some 15 years ago. The couple reports being “dead broke,” when leaving Washington in 2000, and their new wealth represents a 6,250 percent jump in wealth. (RELATED: ‘Dead Broke’ Clintons Spent Nearly $1.3 Million Renovating Their Homes)
Former President George H.W. Bush saw his fortune grow from $4 million when leaving office to $23 million today, American University reports. His son, former President George W. Bush, saw his fortune grow by $15 million. Former President Ronald Reagan was $13 million richer after leaving the Oval Office.
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