One of the perks of your career after being a high-level elected official is the opportunity to make all kinds of easy cash by doing speaking engagements, book tours and consulting work for major companies. That’s especially true right now if your last name is Obama.
The DC power couple, who are still worshiped by the left, have struck incredible deals so far (like with Netflix) and are only just getting started. Look how much cash they’re pulling in right now according to industry insiders…
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 US 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 explains that the plan is for the Obamas to “cultivate and curate the talented, inspiring, creative voices who are able to promote greater empathy and understanding between peoples, and help them share their stories with the entire world.” The purpose of the series, Obama said, 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.