Barack Obama, the 44th President of the United States of America, was not only the first African- American to occupy the post, but also the youngest at just forty-seven. When he left office in 2017, Obama spent much of his first year on holiday with his wife, Michelle. A trip to Palm Springs, California, was followed by time on British business magnate Richard Branson’s Moskito Island, then a luxury villa on the French Polynesian island of Tetiaroa, then wine tasting in Tuscany, river rafting in Indonesia, and golfing at the prestigious St. Andrew’s course in Scotland. He and Michelle also bought a 750-square-metre house in Washington for $8.1 million.
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Obama also found time for some ‘normal stuff’. In August 2017, he helped his daughter Malia move into her dormitory room in Harvard University. A few months later he did jury service in Chicago. However, the ex-President had not forgotten politics. Obama has strongly criticised America’s current President for his attitude to immigrants, Muslims and racists. He has also warned against the Democratic Party moving to the Left.
Millions and Millions
When Obama entered the White House in 2009, his net worth was $1.3 million. Some financial analysts calculate the Obama couple will make almost $250 million in their post-presidency life. How? They signed book deals for $60 million. Some money will go to the couple’s favourite charities. Michelle’s biography, Becoming, has already sold 10 million copies. Obama is writing his memoirs by hand.
The Obamas have also added to their bank accounts with money from public speaking events. Barack receives up to $400,000 for each speech (the same as his annual salary while President), while Michelle makes $225,000. There is criticism of Obama, as he often censured financial institutions and wealth inequality in the past. The Obamas have also signed a contract with Netflix for $50 million to produce films and TV series on their favourite subjects, such as a movie about the abolitionist Frederick Douglass, and a children’s educational programme about food.
In May 2017, Obama revealed plans for The Obama Presidential Center, to be built in his hometown, Chicago. The center will have a museum (with educational and meeting spaces), a forum and a library. The library will be the first completely-digital presidential library in the US, with no papers at all — not even Obama’s handwritten memoirs.