Barack and Michelle Obama, one of Black America’s favorite couples, may see a significantly higher net worth after signing their Netflix deal, which was finally confirmed Monday (May 21).
The multi-year partnership venture, first reported by The New York Times when the Obamas entered negotiations with Netflix in March, will likely put some serious bank in the couple’s account. Netflix has not disclosed the deal’s valuation, but Shonda Rhimes signed a $100 million deal when the streaming giant poached her from ABC.
The Obamas will be working on a variety of show formats: docu-series, documentaries, features, scripted and unscripted series. The specific project timeline and show ideas, however, were not confirmed by the streaming giant, which would put the Obama’s content in front of potentially 125 million members globally.
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The Obamas’ Netflix work, produced through their freshly minted company Higher Ground Productions, could come as early as late 2019, a source told The Huffington Post.
The former first couple will be in front of and behind the camera. But how much could their net worth go up?
Michelle Obama’s net worth was $40 million during her time as the nation’s first lady, Celebrity Net Worth reported. Her husband and our 44th president also had a $40 million worth during his presidency.
The former commander-in-chief and his wife, however, have been earning a lot of money since leaving the White House last year. Case in point: Barack Obama was paid upwards of $290,000 for a March speaking tour in Australia, The Australian reported.
The ex-FLOTUS reportedly signed a book deal for her upcoming “Becoming” memoir worth more than $60 million.
The pair had more time to travel to lavish destinations after their White House departure, too. They went to Palm Springs, the French Polynesia, Italy and other places before the Netflix deal was confirmed. If the Obamas get $100 million like Rhimes or more for their deal, their net worth may see a hefty bump.
They are looking to produce “inspirational” projects for Netflix, sources said in March, according to the U.S. News & World Report. They may create some shows around post-White House life, including the forthcoming Obama Presidential Center in Chicago and their several national service projects and initiatives.
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