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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

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