Since Leaving White House, The Obamas Are Making Money Hand Over Fist

It's been more than 100 days since former President Barack Obama and First Lady Michelle Obama left the White House. Since Mr. Obama's second term ended, the couple have been taking luxurious vacations, basking on the shores of gorgeous tropical beaches, and letting the stress of the last eight years wash away. They've also made a fortune, and they seem to be set for quite a lucrative future.

When Barack Obama first became president, he and Michelle were already millionaires. Running for president was a lucrative deal for Mr. Obama, because his books, 'Dreams of My Father', 'Of Thee I Sing: A Letter to My Daughters' and 'The Audacity of Hope' began selling. Their income went from about $1.3 million in 2007 when he began campaigning to $5.5 million in 2009 when he took office, according to Money Magazine.

But for the Obama family, the best was yet to come. The deals being thrown at them since leaving the White House makes his presidential annual salary of $400,000 per year look like a paltry sum.

The Obamas were immediately offered a joint book deal for $60 million to pen their memoirs. Mr. Obama has set his rate for Wall Street speeches at a whopping $400,000 per event. That's almost double the price the Clintons have charged.

The Clintons have been heavily criticized for accepting such exorbitant sums for a single speech, and in part, it played a role in costing Hillary Clinton the election. It helped her be painted as 'part of the establishment' who kowtows to the wealthy.

Mr. Obama is starting to get a bit of criticism as well. Sen. Elizabeth Warren (D-Mass) called Obama's speech price 'troubling'. Even Sen. Bernie Sanders (I-Vt) said it was 'unfortunate' that the former president is 'doing something like this'.

Mr. Obama's spokesperson offered a comment in defense: “With regard to this or any speech involving Wall Street sponsors, I’d just point out that in 2008, Barack Obama raised more money from Wall Street than any candidate in history — and still went on to successfully pass and implement the toughest reforms on Wall Street since [former President Franklin Delano Roosevelt].”

Michelle is raking in $200,000 per speech, the same as former presidents. Some wonder if she'll ever run for office herself. The former first lady says she has no intention of running.

Source: Inquisitr
Photo: Flickr/ GlynLowe

Tell Us What You Think

More News Stories

Former Governor of Arkansas Mike Huckabee made the comment that Hillary Clinton is going to be putting up quite a fight to make it through the...

Former President Barack Obama and First Lady Michelle had to deal with some criticism after their eldest daughter began running around and getting...

A man who murdered an 11-year-old girl in 2004 was sentenced to lethal injection, but he's managed to postpone the execution. Now, thanks to a...

Will they or won’t they? That’s the question surrounding the newly-christened NBA Champs, the Golden State Warriors, and it has everything to do...

Amber Cammack is a Texas woman who took pictures of her neighbor's dog allegedly being held in abusive conditions in an apartment in northern...

Latest News Stories

There's nothing more exciting than getting your first paycheck, and that's particularly true if you're an NFL rookie getting your first five-digit...

A slaughterhouse in Brazil was shocked to find a deformed stillborn calf. It was even more surprising considering they thought that its mother cow...

Tara Murphy, who works as a nurse in Clarksburg, West Virginia, recently played a small role in a very special lunch at Burger King. Clarksburg...

Welfare payments more frequently go to households headed by immigrants than to native-born families, according to a report by the Center for...

Local media in India are reporting that a woman walked into a police station claiming to have been raped, and she was holding her attacker’s penis...