“On the Holmes Front,” with Frank Holmes
Former President Barack Obama and his wife, Michelle, love to talk about how unfair and oppressive America is, but since they’ve left office, they have been laughing all the way to the bank.
Their drawers are full of millions upon millions of dollars, with no end in sight.
As a matter of fact, the Obamas are “on their way to becoming a billion-dollar brand,” writes Isabel Vincent at the New York Post.
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Let’s count up the money.
The former First Family was on the road to riches before they ever walked into the Oval Office.
When Obama was elected to the U.S. Senate in 2005, their income was $1.67 million — and a funny thing happened to Michelle’s salary. As soon as she was married to a senator, her income nearly tripled in a single year, from $121,910 to $316,962.
After Obama was elected president, their fortunes skyrocketed.
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The Obamas’ net worth exploded by a whopping 3,000% during their eight years in office.
The former president was worth $1.3 million on Election Day in 2008.
Now that he is a former president, Obama will receive a $207,800 presidential pension — courtesy of the U.S. taxpayers — for the rest of his life.
That’s pretty good money for “public service.”
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Obama and Michelle used their increasing wealth to buy an 8-bedroom, 9-and-a-half bathroom mansion for $8.1 million in the D.C. suburbs — an area where property value is guaranteed only to increase.
And not too soon after, the power couple landed a $65 million book deal for both of them to produce memoirs for Penguin Random House. That’s the largest contract ever awarded for a presidential autobiography.
Michelle just fulfilled her half of the contract by releasing her new book, Becoming.
“She got paid a lot of money to write a book,” President Donald Trump said after he found out her book was an attack against him.
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There is no doubt, that the former First Lady will use Trump’s name to make even more cash on the road, while she promotes her book. Her 10-city speaking tour will be sure to fatten their bank account.
Recently, the former first couple signed a lucrative deal with Netflix. Neither the Obamas, nor the streaming video company, will say how much the contract is worth, but estimates place its total value around $50 million.
The vague details that have been made public explain that the Obamas will “produce a diverse mix of content, including the potential for scripted series, unscripted series, docuseries, documentaries, and features.” The power couple has already set up a production company, with the self-righteous name “Higher Ground Productions,” to fulfill their contract.
Adding to the Obamas’ wealth are their side speaking deals they will take during the year, year-in and year-out. Both Obamas will speak at public and private functions, if the price is right. Obama demands $400,000 per gig, while Michelle Obama banks a cool $225,000 per speech.
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And who knows what other business deals will fall into their lap now that they’re living a life of leisure.
That’s a pretty good run, considering the Obamas insist America never lets people like them get ahead. Michelle stated the United States is “just downright mean” in a 2008 interview with The New Yorker magazine.
She constantly complained that America would never give her, or her family, a fair shake on the campaign trail.
“When your world’s not right no matter how hard you work, then you become afraid of everyone and everything,” she said at a campaign appearance that year. “You don’t know whose fault it is, why you can’t get a handle on life, why you can’t secure a better future for your kids.”
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Obama made the same case his entire life, even as the money was piling up.
“Some communities have consistently had the odds stacked against them,” he said in 2015.
Just two months ago, while campaigning for the losing Democratic candidate for governor of Ohio, Obama whined, “The game is rigged.”
If it’s rigged, the Obamas sure have figured out how to make it pay. Maybe they rigged it for themselves all along.
Frank Holmes is a reporter for The Horn News. He is a veteran journalist and an outspoken conservative that talks about the news that was in his weekly article, “On The Holmes Front.”