When Barack Obama said back in 2010 that “I do think at a certain point you’ve made enough money,” he was careful not to specify what that number is. For all his rhetoric on income inequality and the need to increase taxes on the wealthy, the man has got a taste for wealth after leaving the Oval Office, and it turns out he likes money just as much as the rest of us.
Cash rained on Bill and Hillary Clinton like manna from heaven following Bill’s departure from the White House, with the two bringing in an incredible combined $153 million in speaking fees. Obama will be nowhere near as prolific as the Clinton’s out on the speaking circuit, but he still earned $1.2 million from three speeches, or eight times the median household income in America, per speech.
And that’s just a fraction of the future deals he’s inked out. According to the Daily Wire:
According to insiders, the Obamas are cashing in on the presidency in a way that may be outpacing even the Clintons. In its report on how the Obamas were able to secure their big deal with Netflix — through a former campaign donation bundler to whom Obama gave the U.S. ambassadorship in the Bahamas from 2009 to 2011 — the New York Post highlights some of the eye-popping numbers.
The Netflix deal, an entertainment industry insider told the Post, could be valued at $50 million. How much of that money will end up directly in the pockets of the Obamas is unclear, but the company the couple formed to broker the deal, Higher Ground Productions LLC, will surely not have a cash flow problem anytime soon.
And the huge Netflix contract isn’t the biggest deal the Obamas have landed: They’ve also reportedly signed a joint book deal with Penguin Random House valued at over $65 million. Michelle’s memoir, the first book planned in the series, is supposed to be released in November.
So, two deals within two years of leaving the White House that could net the Obamas more than two decades of speaking engagements for the Clintons. Of all the people loving the Trump tax cuts, Obama is certainly among them.
This does raise the question however of whether or not the Presidential pension should be phased out, given how the Presidency is now a gateway to riches. No one would find it controversial if a billionaire like Trump were to be refused a Presidential pension (and he’d probably give it to charity, but what about Obama? Obama’s proposed 2016 budget included a $25,000 hike in the presidential pension for himself, but how badly does he really need it? (RELATED: BREAKING: Obama Just Gave Himself A MASSIVE Pay Raise… FOREVER! $$$).
Given how he’s doing so far, I’d say not at all!
Do you think Obama’s pension should be stripped? Let us know in the comments section below!