Today President Barack Obama will leave the White House after two terms in office.
In spite of the toll that the stress of being the POTUS takes on one—their hair usually turns gray while in office—I’m sure there will be some sadness on Obama’s part.
But that sadness may soon diminish, because the fact is, Obama’s going to get paid. Big time.
Obama was paid $400,000 a year while he was in office, and it’s said that his current net worth is about $12.2 million. But apparently, that’s just the beginning. According to an article in UK’s Independent this past November, here are the two most lucrative sources of Obama’s income in the near future:
1) Book Deal
Bill Clinton received a $10 million advance for his memoirs after he left office in 2001. The New York Times has reported that Obama’s memoirs may command an advance of somewhere between $25 and $45 million!
George W. Bush gets between $100,000 and $175,000 per speaking appearance, which means that he’s probably made over $30 million in speaker fees since leaving office in 2009. Bill Clinton reportedly received $225,000 for a speaking appearance last February. But another source claims that he usually brings in between $250,000 and $500,000 per engagement, and has made at least $104 million in speaking fees since leaving office.
Dang. That’s amazing, especially considering the fact that they usually just give slightly-altered versions of the same speech, which they may or may not have written themselves.
Plus, there’s the $203,700 annual pension that Obama will receive upon leaving office.
And then there’s the fact that Michelle Obama will pull in a hefty amount from her own book deals and speaking fees. Hillary Clinton has also made tens of millions in speaking fees over the years, and reportedly received a $14 million advance for her most recent book Stronger Together.
Forbes has estimated the Clintons current wealth at around $50 million. It’s not too big of a stretch to think that the Obamas will surpass that.