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September 5, 2016
Will Obama be the first billionaire ex-president?
It is a reasonable question to ask if Barack Obama will outdo the Clintons in accumulating wealth in his post-presidency. Gardiner Harris of the New York Times reports that the president has ambitions that would indicate wealth of that magnitude: 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. That last item, of course, indicates a desire to travel exclusively by private jet. He will be off to a good start: 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...(Read Full Post)