Monday, September 5, 2016

Via multi-million dollar book deals, Obama plans to continue living the life of the 1% after he leaves the White House-NY Times

9/4/16, "Lucrative Book Deals Might Finance the Obamas’ Post-White House Life," NY Times, Gardiner Harris

"After he is out of the White House, President Obama has said that he wants to become a venture capitalist, own part of an N.B.A. franchise and avoid taking off his shoes during security screenings at commercial airports. 

All of those goals, serious or not, might soon be achievable if Mr. Obama and his wife, Michelle, sign post-presidency book contracts for what literary agents and major publishers say could amount to $20 million to $45 million— more than enough to pay the estimated $22,000 monthly rent for the nine-bedroom home they will occupy in the Kalorama neighborhood of Washington and foot the bill for flights on private jets. (Mr. Obama has said he would like to avoid commercial flights once he surrenders Air Force One.)... 

Writing books and giving paid speeches has become the preferred occupation of former presidents....Bill and Hillary Clinton earned $153 million between 2001 and 2015 from paid speeches, CNN estimated, and George W. Bush has quietly earned tens of millions himself. 

But books are the preferred way to make money because they do not have the taint of paid speeches, and they generally sell well."...


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