Turning over the White House to Donald Trump was no doubt difficult for Barrack Obama. Watching from the sidelines as Trump upended his legacy piece by piece was probably even more difficult still. The good news for the Obamas is that if they are still feeling any grief from Trump’s victory and the conservative, pro-American policies he continues to put in place, they’ve got millions of dollars in post-Presidency cash to cheer them up.
Being a former President, Obama is guaranteed $400,000 a year for life. However, that lifetime salary is pocket change compared to what he and Michelle have been making since they left the White House. Following the footsteps of the Clintons, Barrack and Michelle Obama are already hitting the speaking engagement circuit to the tune of about $400,000 a gig.
Getting paid massive amounts of money for delivering speeches is a relatively common path to riches for former and sometimes current high-profile politicians. However, the Obamas are taking their post-Presidency wealth accumulation a giant step further than that.
Recently, Barrack and Michelle signed a deal with Netflix to produce a series of shows, documentaries, and films. The exact content of these films and movies is unknown as of yet, but there’s little doubt that Obama will use the platform to continue promoting liberal ideals.
In an article published on the New York Post, Obama said that the purpose of the Netflix series will be to “promote greater empathy and understanding between peoples and help them share their stories with the entire world.”
According to one entertainment industry insider, the Obamas’ deal with Netflix is likely to be valued at around $50 million. While it’s unknown exactly how much of that money will end up in Obama’s pockets, it’s certainly safe to say that he and Michelle will be receiving a very generous amount of money out of the deal.
Yet even a $50 million deal with Netflix is not the biggest sum of cash the couple has been able to secure in the time since Obama left the White House. Barrack and Michelle have reportedly signed a joint book deal with Penguin Random House that is valued at over $65 million. The first book in the series – Michelle’s memoir – is already slated for a November 2018 release.
All of this adds up to some pretty serious profits for the former President and First Lady. While there’s nothing inherently wrong with a former President leveraging his celebrity status to pad his bank account, it does present some concerns, particularly for Michelle Obama. One of the many issues voters had with Hillary Clinton during the 2016 election was the fact that she had used her status as a former First Lady and high-profile politician to make millions in speaking engagements.
Politicians taking in that much money tends to make voters nervous about who they are beholden to. Seeing as rumors of Michelle Obama one day running for elected office began to surface as soon as the 2016 election was over, Michelle could run into the same image problem as Hillary Clinton should she ever decide to make those rumors a reality.
In the end, though, the platform that all of these books and shows are allowing the Obamas would still likely help Michelle’s chances at running for office more than hurt them. For now, it would seem that the much larger inconvenience of all this exposure falls to those who were hoping to see Barrack and Michelle Obama step gracefully out of the spotlight. Barrack Obama may be out of the White House, but his days of influencing American politics appear to be far from over.
All of this is a long stretch from the days when a former President would retire to their homes and live out the rest of their days largely outside of the public eye. Today, money buys power and power buys money in a cycle that high-profile politicians such as the Obamas are able to leverage for as long as the public and, more importantly, the media allows it.
The consequences of this trend for former Presidents to make millions off of their status with relative ease may be up for debate. What’s not up for debate is the fact that Barrack and Michelle Obama are certainly going to be a part of the 1% that the left loves to hate on for the rest of their lives.
~ Freedom News Report