Michelle Obama's Net Worth 2024: $70 Million Insights
Michelle Obama's Net Worth 2024: $70 Million Insights.
What Is Michelle Obama's Net Worth and Salary?
Michelle Obama is an American attorney, author, and the former First Lady of the United States. Together with her husband, Barack Obama, they have a net worth of around $70 million.
After earning her degree from Harvard Law School, Michelle kicked off her career at the law firm Sidley Austin in Chicago, focusing on marketing and intellectual property. While she made a mark in the legal field, she eventually shifted her attention to community outreach and engagement.
She took on the role of Assistant Commissioner of Planning and Development for the City of Chicago, where she worked on projects aimed at affordable housing. Later, she became the founding Executive Director of the Chicago chapter of Public Allies, a non-profit that trains young leaders for careers in public service.
Michelle also made strides in healthcare and community engagement as the Vice President of Community and External Affairs at the University of Chicago Medical Center. There, she developed programs to encourage volunteerism and strengthen community ties.
As First Lady, Michelle championed causes that mattered to her, including education, support for military families, healthy eating, and raising awareness about poverty. Her "Let's Move!" initiative was designed to tackle childhood obesity and promote healthier lifestyles among kids, focusing on improving school lunches, encouraging physical activity, and providing better food information to families.
She kicked off the "Joining Forces" initiative alongside Dr. Jill Biden, which focuses on supporting military families and veterans. Plus, she started the "Reach Higher" initiative to inspire young folks to chase after higher education and career training.
Michelle's memoir, "Becoming," released in 2018, became a huge hit and gave readers a close-up view of her life, values, and experiences. Her book tour sparked a worldwide discussion about empowerment, self-discovery, and resilience.
After her time in the White House, she’s still tackling the issues she cared about as First Lady through the Obama Foundation. Together with Barack Obama, she’s also signed a multi-year deal with Netflix to create a mix of scripted and unscripted series, documentaries, and films.
Early Life
Michelle Obama was born Michelle LaVaughn Robinson on January 17, 1964, in Chicago, Illinois. Michelle grew up in the South Shore community area. Her father suffered from multiple sclerosis, which was hard on her emotionally, so she threw herself into her studies and was a hardworking student. She graduated from Whitney Young High School in 1981 and was the salutatorian of her class. She attended Princeton University, where she majored in sociology and minored in African-American studies, and she graduated cum laude in 1985.
While she was at Princeton, she became heavily involved with an academic and cultural group called The Third World Center, which supported minority students. Michelle went on to earn a law degree from Harvard Law School in 1988. At Harvard, she worked for the Harvard Legal Bureau in assisting low-income tenants with housing cases. Michelle Obama is the third First Lady to have earned a postgraduate degree.
Post-Law School
Michelle's dad passed away in 1991, and around the same time, a close friend lost their battle with cancer. She’s mentioned that these losses during a pivotal moment in her career made her reflect on how she was giving back to society. After finishing law school, she landed a job at a law firm in Chicago, where she met Barack Obama, who would later become President.
Their romance kicked off after a business lunch, and they got to know each other better at a community meeting. At first, she was hesitant to date Barack, thinking it would be unprofessional given their work connection. But eventually, she gave in, and they fell in love, tying the knot on October 3, 1992. The couple settled down on the South Side of Chicago.
Michelle decided to leave her job to pursue a career in public service, starting as an assistant to Mayor Daley and then moving on to become the assistant commissioner of planning and development for the City of Chicago. In 1993, she took on the role of executive director for the Chicago Office of Public Allies, a nonprofit that focused on training young adults for careers in the public sector. By 1996, she joined the University of Chicago as the Associate Dean of Student Services, where she created the university's first community service program.
In 2002, she took on the role of Executive Director of Community Relations and External Affairs at the University of Chicago Hospitals. Around the same time, Barack was making his political moves, getting elected to the State Senate in 1996 and then to the US Senate in 2004. They decided to stick with Chicago instead of relocating to Washington, D.C., believing it was best for their daughters to stay in their current school.
By May 2005, Michelle became the Vice President for Community and External Affairs at the University of Chicago Medical Center, working part-time there until just before her husband was inaugurated as President in 2009. She also joined the board of the Chicago Council on Global Affairs. Once Barack became President, she chose to set aside her own career goals to focus on her role as First Lady.
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First Lady
Michelle Obama was the First Lady of the United States from 2009 to 2017. At first, she wasn't too keen on campaigning for her husband, finding it a bit of a chore, but she still went out there to shake hands and raise funds. She had some concerns about Barack's presidential ambitions, worrying it might be tough on their young kids. In her campaign speeches, she often touched on topics like race, education, and motherhood. Barack won the presidency on November 4, 2008, and secured a second term in 2012.
In her early days as First Lady, Michelle frequently visited soup kitchens and homeless shelters, encouraging young people to engage in public service. She hosted events at the White House for women's rights advocates and backed the economic stimulus bill. Michelle highlighted four main initiatives during her time: Let's Move, Reach Higher, Let Girls Learn, and Joining Forces.
She also championed military families and promoted national service. Michelle was a strong proponent of helping working mothers find a better work-life balance. In April 2012, the National Homeless Coalition for Veterans honored the Obamas with the Jerald Washington Memorial Founders' Award, which Michelle received again in May 2015 alongside Jill Biden.
Michelle is well-known for her efforts to combat obesity and promote healthy eating habits among children. She pushed for more nutritious school lunches and kicked off the Let's Move! Campaign. Additionally, she was a vocal advocate for LGBTQ rights. Beyond her political and humanitarian efforts, Michelle gained recognition for her fashion sense and style during her time as First Lady.
Family Life
Michelle and Barack Obama tied the knot on October 3, 1992. After experiencing a miscarriage, Michelle turned to in vitro fertilization and welcomed their daughter, Malia Ann, in 1998. They also used in vitro to have their second daughter, Sasha, in 2001. Once Barack became President and the family relocated to Washington, D.C., the girls started attending Sidwell Friends School. To lend a hand with childcare, Michelle's mom, Marian Robinson, moved into the White House with them.
Michelle Obama Book Advance and Royalties
In February 2017, Barack and Michelle Obama scored a whopping $65 million advance for the rights to their autobiographies, plus one extra book, making it three in total. Michelle's 2018 release, "Becoming," flew off the shelves, selling 750,000 copies on its very first day. As of now, it has sold over 10 million copies.
The Obama’s Income History
Year Income
2000 $240,000
2001 $272,759
2002 $259,394
2003 $238,327
2004 $207,647
2005 $1,655,106
2006 $983,826
2007 $4,139,965
2008 $2,656,902
2009 $5,505,409
2010 $1,728,096
2011 $789,674
2012 $662,076
2013 $481,098
2014 $477,383
2015 $436,065
2016 ?
2017 At least $65,000,000
Total $85,733,727
Obama’s Real Estate
In August 2000, Barack and Michelle bought a $1.6 million house in Kenwood, a suburb of Chicago. Their home spans 6,400 square feet and features six bedrooms, six bathrooms, beautiful mahogany bookshelves, a granite kitchen floor, and even a wine cellar.
After leaving the White House, Barack and Michelle decided to rent a mansion in Washington D.C. so their youngest daughter could finish high school. In June 2017, they bought the 8,200-square-foot rental for $8.1 million.
Martha's Vineyard Property
In 2019, the Obamas purchased a house on Martha's Vineyard for $11.75 million. This stunning property features a 7,000-square-foot main house and spans 29 acres right by the ocean. The previous owner was Wyc Grousbeck, who is the owner of the Boston Celtics.
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The official listing for the home described it as follows.
"The spacious and dramatic living room space boasts vaulted ceilings with exposed steel beams and a focal point stone fireplace. There are two guest wings and an impressive master suite with a fireplace, a private sun deck, and spectacular water views. Your summer days can be spent poolside in a garden-like setting with the sounds of the waves lapping in the distance or exploring the expansive Great Pond and outer barrier beach for a full day on the water. A property of this stature needs to be seen to be experienced."
The house features not one, but two guest wings, which is pretty cool. However, it only has a two-car garage, so any long-term visitors (like Sasha and Malia, for instance) will need to figure out alternative parking. On the bright side, there's a ton of private beachfront space, plus a boathouse to enjoy.
Rumor has it that the Obamas have been renting this place as a summer getaway, and it seems they've enjoyed it so much that they're looking to buy it.
Michelle Obama is an inspiring figure who has made a profound impact on society. From her early career in law and public service to her role as First Lady, she has championed important causes such as education, healthy living, and support for military families. Her "Let's Move!" initiative and "Reach Higher" campaign continue to inspire individuals of all ages.
As an author, her memoir "Becoming" resonated with millions, reflecting her resilience and dedication to empowerment. Michelle Obama's unwavering commitment to social change, along with her strong family values, continues to make her a positive role model worldwide.
