REPORT: Here’s How The Obama’s Are RAKING IN Cash Post-Presidency
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The Obama’s are seriously raking in the cash post-presidency, which is a good thing considering they don’t have the luxury of using our taxpayer dollars for their lavish vacations.
Not only have they exploited their status by signing a lucrative Netflix deal and charging a whopping $400k per speech, but now both Barack and Michelle have signed a joint book deal valued at over $65 million.
It’s good to be the post-president. You still get all the acclaim and the armed security and lots of chances to use and abuse a version of the bully pulpit — but you also get to make a whole lot more than $400,000 a year.
According to insiders, the Obamas are cashing in on the presidency in a way that may be outpacing even the Clintons. Along with speaking fees of around $400,000 a gig, the Obamas just reportedly nailed down a massive contract with Netflix to go along with their even larger book contract.
In its report on how the Obamas were able to secure their big deal with Netflix — through a former campaign donation bundler to whom Obama gave the U.S. ambassadorship in the Bahamas from 2009 to 2011 — the New York Post highlights some of the eye-popping numbers.
The Netflix deal, an entertainment industry insider told the Post, could be valued at $50 million. How much of that money will end up directly in the pockets of the Obamas is unclear, but the company the couple formed to broker the deal, Higher Ground Productions LLC, will surely not have a cash flow problem anytime soon.
And the huge Netflix contract isn’t the biggest deal the Obamas have landed: They’ve also reportedly signed a joint book deal with Penguin Random House valued at over $65 million. Michelle’s memoir, the first book planned in the series, is supposed to be released in November.
In its initial report on the Netflix deal, the Post stated that Obama said that the purpose of the series will be to “promote greater empathy and understanding between peoples and help them share their stories with the entire world.”
Obama 2012 campaign supporter Ted Sarandos, the creative-content chief of Netflix, helped secure the deal, an entertainment industry source told the Post. Sarandos and his wife, Nicole Avant, daughter of another major Obama donor, Clarence Avant, helped bundle $600,000 in contributions for Obama in 2012.