Barack and Michelle Obama certainly won’t be starving any time soon. The couple are, according to The Geek Factory’s CEO Peter Shankman, soon to be raking in more for speeches than even Bill and Hillary Clinton, the king and queen of prolific, well-paid, speech-making.
Shankman recently spoke with a reporter for Fox Business, saying “No doubt [former President Obama’s] first speech could easily [command] $250k 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 said he would.”
According to Fox Business, ex-president Bill Clinton makes somewhere in the neighborhood of $250K per speech, while the never-president Hillary Clinton averages about $235K per speech. Since Bill left the Oval Office in January 2001, the Clintons combined have earned approximately $153 million on speechmaking.
As much as the Clintons make on speeches, the Obamas are predicted to make even more. But the good times don’t end there for Barack and Michelle.
Mr. Obama’s three published books – Dreams From My Father, The Audacity of Hope, and Of Thee I Sing – have together brought him north of $10 million. Books by ex-presidents tend to be very lucrative. The Los Angeles Times reported last September that following their departure from the White House, Barack could expect to be paid $12 million per published book, Michelle, $10 million.
A contract stipulating multiple books could rake in upwards of $45 million for ex-president Obama, according to the New York Times. That would certainly enable the Obamas to not worry about the rent in their nine-bedroom mansion in the Kalorama district of Washington D.C. or about the costs of the ultra-luxurious vacations the Obamas got so used to during the last eight years (paid for by American taxpayers, of course).
Of course, there will be no lack of adoring liberals and progressives living for every golden word their heroes, the Obamas, put to print. But, with all that money, can we expect Barack and Michelle to share it with the hoi polloi? After all, Barack once made this famous statement: “I think when you spread the wealth around it’s good for everybody.”
Don’t bank on it.
What are your thoughts on the cash the Obamas can expect to rake in post-presidency from speeches and books? Share your opinions in the Comments section.