Barack and Michelle Obama are cashing in as they stand to make at least $250,000 per speech. It was reported months before former President Obama handed the nation’s reins of power over to Donald Trump that he and his wife were set to sign lucrative book deals once they were out of the White House. According to Fox News, the couple won’t do too shabby delivering speeches, either.
The former president and his wife will be making a hefty sum for speech engagements. Barack and Michelle Obama are looking at least $250,000 per speech in 2017 in the private sector, says Peter Shankman, founder and CEO of social media, marketing, and PR strategy firm, The Geek Factory. His clients have included Walt Disney World, American Express, and the U.S. Department of Defense.
“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.”
The Harry Walker Agency will manage Barack and Michelle Obama’s speeches, according to Obama spokesman Kevin Lewis. The agency also represents a host of other former White House leaders, including former President Bill Clinton, former Vice President Al Gore, and former Vice President Dick Cheney.
— People Magazine (@people) February 10, 2017
The Obamas have also commissioned a public relations agency to organize and schedule speaking engagements. The agency is experienced in collaborating with high-profile figures, such as the Clintons and Mia Farrow.
While Barack and Michelle Obama haven’t set a date for their first speech or announce when their new books will be released, they’ve hired attorneys, Robert Barnett and Deneen Howell, to oversee their book contracts.
Former President Obama has already signed contracts for book deals that include Dreams From My Father, The Audacity of Hope, and Of Thee I Sing. Financial documents reveal that he’s made over $10 million for the three memoirs.
It’s believed that Barack and Michelle Obama will make millions more than Bill Clinton, who received a $15 million advance fee for his 2004 autobiography, My Life. The Obamas are looking at $20 million each for their book contracts.
Barack Obama will receive the standard $207K annual pension after serving as president in addition to post-White House profits he’ll earn.
The figures for what Barack and Michelle Obama will make per speech were compared to what former President Bill Clinton and Hillary Clinton make per speech. Bill Clinton made slightly less than $250K per speech in 2011; he raked in over $13 million that year delivering 54 speeches. Hillary made $234K a speech from 2001 until she ran for president for the 2016 election. Together, the pair earned a reported $153 million grand total in speech fees.
Fox reports that President George W. Bush makes between $100K and $175K per speech.
— Washington Examiner (@dcexaminer) February 11, 2017
The former president has vowed to be vocal during President Trump’s leadership if he feels American values are threatened. In Week 2 of Trump’s presidency, Obama spoke out against an executive order Trump signed that was viewed as a “Muslim ban.” Chaos ensued and huge protests followed at major airports globally when he temporarily banned immigrants from seven predominately Muslim nations from entering the U.S. until stiffer vetting procedures were put in place. The “travel ban” was rejected by the U.S. 9th Circuit Court of Appeals.
Barack and Michelle Obama left the White House with an extremely high approval rating, which signals they’ll be in high demand for their $250K speeches.
[Featured Image by Oliver Douliery/Getty Images]