Monday, September 5, 2016

Will President Obama Be A Billionaire A Few Years After He Has Left Office?

President Obama and his family with Cuban President Raul Castro at an exhibition baseball game between the Cuban national team and Major League Baseball’s Tampa Bay Rays in Havana on Tuesday. Jonathan Ernst | Reuters

Tampa Bay Times/New York Times: Lucrative book deals might finance the Obamas' post-White House life

WASHINGTON — After he is out of the White House, President Barack Obama has said that he wants to become a venture capitalist, own part of an NBA 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 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. (Obama has said he would like to avoid commercial flights once he surrenders Air Force One.)

"His is going to be easily the most valuable presidential memoir ever," said Raphael Sagalyn of the ICM/Sagalyn Literary Agency, who predicted that Obama could earn as much as $30 million with a two- or three-book contract. "And I think Michelle Obama has the opportunity to sell the most valuable first lady memoir in history."

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WNU Editor: It's all about the money. Here is an easy prediction .... former Vice President Gore made hundreds of millions from his business ventures when he left public office. As for citizen Obama .... I can easily see him having a net worth of over a billion dollars within a decade.

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