The net worth of U.S. presidents can change dramatically from before they enter the White House to after they leave office. Some presidents tend to rake in mega cash from high-profile speaking engagements, book deals, and business ventures after their presidency. Some enter the White House with wealth and are worth millions.
Here’s a look at how net worth evolved for the last three presidents: Joe Biden, Donald Trump, and Barack Obama.
Joe Biden’s Wealth
Biden’s net worth before taking office was approximately $9 million, primarily from book deals and speaking fees, according to GoBakingRates. Currently, Biden and first lady Jill Biden have an estimated net worth of $10 million, according to Forbes. In 2023, they earned approximately $620,000 before taxes, as reported in their tax return released by the White House in April 2024, Investopedia reported. President Biden’s annual salary is $400,000, while Jill Biden earns around $86,000 annually from her full-time teaching position at Northern Virginia Community College. Time will tell if Biden’s net worth will jump when he exits the White House in January.
Donald Trump: Rich or Not?
Trump was already wealthy before he took office, with estimates of his net worth around $3 billion, largely from his real estate holdings and various business ventures. Trump opted not take a presidential salary. When he left office in 2020 after four years his net worth was estimated to be around $2.5 billion, according to Forbes. His wealth decreased was due in part to the pandemic’s impact on his hotel and commercial real estate holdings. Since leaving office, he’s capitalized on his political brand, especially through his involvement with Truth Social. As of November 2024,Trump’s net worth is estimated to be around $5.5 billion by Forbes and $6.5 billion by Bloomberg. He is also carrying a debt of around $2 billion.
Barack Obama: What He Started With
Before his presidency, Obama had a net worth of about $1.3 million, largely from book sales and his Senate salary, according to Business Insider. After leaving office, his net worth skyrocketed to an estimated $70 million, due to lucrative book deals, such as the $65 million agreement for both his and Michelle Obama’s memoirs. That deal was with Penguin Random House. Barack’s memoir, “A Promised Land,” was published in November 2020, and Michelle’s memoir, “Becoming,” was released in November 2018. Both books had high sales, with “Becoming” breaking records as one of the best-selling memoirs of all time.
Barack also landed along with high-profile speaking engagements and with his wife signed a production deal with Netflix, valued at $50 million. In 2018, they signed the multi-year agreement with the streaming platform to produce films, documentaries, and series through their production company, Higher Ground Productions.
