The Obamas may have just returned from their island vacation two weeks ago, but they’ve already hit the ground running to cash in on their status as the former First Family. According to new reports, they’re wasting no time lining their pockets with your money, just as they did for eight long years while they were in the White House.
Barack and Michelle have enlisted the help of top-dollar attorneys Robert Barnett and Deneen Howell to handle the contracts surrounding their highly profitable book deals, which stand to earn them anywhere from $20 million to $45 million each. This will certainly dwarf the $15 million advance Bill Clinton received for his 2004 autobiography “My Life,” which was the world’s largest advance fee at the time.
Barack Obama has already penned a number of books. Three of them, including “Dreams From My Father,” “The Audacity of Hope,” and “Of Thee I Sing,” earned him more than $10 million, according to financial disclosures.
Lucrative book deals aren’t the only way the Obamas plan to cash in, though. Profitable speaking engagements could be a regular source of income for Barack and Michelle for years to come.
Peter Shankman, the founder and CEO of the social media, marketing, and PR strategy firm The Geek Factory, whose clients have included such high-profile names as American Express, Walt Disney World, and The U.S. Department of Defense, told Fox Business:
“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 [has] said he would.”
This certainly sheds new light on the former president’s motives for refusing to bow out of the spotlight, choosing instead to stay firmly planted in Washington, D.C., where he can go on manipulating the political atmosphere to some degree. It looks like his continued grab for political power stands to earn him some serious dough.
Mind you, the millions of dollars which the Obamas stand to rake in from their various book deals and speaking engagements will be in addition to Barack Obama’s yearly $207,000 pension from the White House.
I don’t know about you, but none of my hard-earned dollars will be going towards the sale of either of the Obamas’ books. I had enough of their lies, egos, and self-entitled bullcrap while they were in the White House, thank you very much. They can take their books and shove them up their loathsome liberal arses.