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It’s no secret that the presidential salary won’t elevate the First Family into the top 1%. Perhaps that’s why the Obamas are coming out guns blazing in their post-White House careers. Barack and Michelle Obama have reportedly already signed contracts for book deals, guide offers, and paid speeches.
Take a guess on how much they’re charging per speaking engagement? If you answered $250,000 then congratulations, you might be psychic.
Presidential Privilege
Despite an up-and-down eight years in the White House, President Obama left the Oval Office with an impressive approval rating of 60%. It’s no surprise that he’ll be coveted as a speaker and other public appearances and it appears as if he plans to cash in on that goodwill. Respect the hustle.
Apart from his lucrative post-White House opportunities, Obama will also start to receive his annual presidential pension, which is par the course for any former commanders in chief. The expected amount is said to be around $207,000 per year.
As of now, a date has not yet been set for book releases. However, the Obamas have recently hired attorneys Robert Barnett and Deneen Howell, who also worked with the Clintons and Mia Farrow, to negotiate their upcoming contracts, so the groundwork is being laid.
Mo’ Money
According to Fox Business:
“No doubt [former President Obama’s] first speech could easily command $250,000 at minimum. Michelle will also see numbers around [250k per speech] for the first year as well. Those fees probably won’t drop anytime soon, when you stop and think about it, especially if Obama continues to be vocal, as he [has] said he would.”
In 2011, former president Bill Clinton earned roughly $13.4 million, giving 54 speeches, while Hillary reportedly earned $234,000 per speech from 2001 until she ran for president in the most recent election, according to CNN. Combined, the power couple reportedly earned $154 million in that timeframe. Excuse me while I reconsider my career choices.
The Obamas will surely be investigating their own book deals, which are quite lucrative. The former president already has three books under his belt (Dreams From My Father, The Audacity of Hope and Of Thee I Sing), which have earned him around $10 million.
Long story short: the Obamas are going to make it rain in “retirement.”