The Obamas are “Becoming” — billionaires.
The launch of Michelle Obama’s cross-country book tour for her new memoir, “Becoming,” last week is just the latest marker on the road to fabulous wealth for the former first couple, who are on their way to becoming a billion-dollar brand.
In addition to a $65 million book advance and an estimated $50 million deal with Netflix, both of which she shares with husband Barack Obama, the former first lady is poised to rake in millions from appearances on her 10-city US tour and sales of merchandise connected to her autobiography.
And like her husband, Michelle Obama is currently in demand as a speaker for corporations and non-profits, commanding $225,000 per appearance, The Post has learned.
Forbes estimated the couple made $20.5 million in salaries and book royalties between 2005 — when Obama became a federal senator and they first arrived in Washington — and 2016. They are now worth more than $135 million.
And that figure does not include the cash they are raking in for public speaking.
In October 2017, Michelle Obama was a keynote speaker at the Pennsylvania Conference for Women, a non-profit that promotes education and networking.
Obama did an on-stage interview with Hollywood producer and writer Shonda Rhimes in Philadelphia for an audience of 12,000.
The New York-based Harry Walker Agency Inc., which books both Obamas for speaking gigs, billed the Pennsylvania Conference for Women $225,000 in 2017, according to the non-profit’s most recent tax filings.
Barack Obama currently rakes in $400,000 per speech, and earned at least $1.2 million for three talks to Wall Street firms in 2017. The fees come on top of his $207,800 annual presidential pension, which he began receiving as soon as he left office.
SOURCE: Isabel Vincent
New York Post