Modern political big beasts are set for life once their time in power comes to an end.
1. George Osborne
Osborne stopped being chancellor last July following the UK’s decision to leave the European Union. He is now editor of the London Evening Standard, but also pockets vast sums from speeches in his spare time. Last December, the Guardian reported that Osborne had made half a million pounds from speeches in New York at the end of last year. The amounts made from such short talks are staggering, with one given to JP Morgan - lasting just one hour – earning him £81,174, as reported by the Guardian. That’s just over three times the UK’s median wage.
2. Nick Clegg
The former deputy prime minister, who lost his seat in June’s snap election, signed with an agent soon after the 2015 vote, as reported by City A.M. The site reports that a speech from Clegg can cost £35,000.
3. Tony Blair
Blair has made millions since leaving office a decade ago. In 2009, the Telegraph reported that the former Labour prime minister earned just shy of £400,000 for delivering two half-hour speeches. Blair has certainly not failed at capitalising on his time in office.
4. Tony Abbot
Abbot led his Liberal/National Coalition to power at the 2013 Australian election, but was replaced as prime minister by Malcolm Turnbull who retained his party’s majority in 2016. Soon after leaving the country’s top job, Abbot went on to deliver speeches for heaps of cash, in what appears to be the norm for ex-politicians.
The Sydney Morning Herald reported that Abbott planned to charge $40,000 AUS for such appearances.
5. George W. Bush
US presidents make significant sums of money from giving speeches after their time in power. According to Politico, the most recent Republican president until Donald Trump usually makes between $100,000 and $175,000 per speech. The site reports that between 2009 and 2015, he has made around 200 speeches. Add in those from the last two years and let your brain do the maths…
Even if he was not rich before, the former president is certainly raking it in now.
6. Hillary Clinton
After leaving the Obama administration, Clinton took some time to earn a bit of extra money…by giving speeches. According to US News, she made almost $22 million for delivering speeches, with $7.1 million of that coming from trade groups, and $4.1 million coming from the financial services industry.
She may have lost last year’s presidential election, but at least she can have a cushy retirement.
7. Barack Obama
If George Bush and Hillary Clinton are doing it, why not Barack Obama? The most recent Democratic president earned $400,000 for one speech made to a healthcare conference at the end of last year, as reported by the New York Times. The amount is truly staggering.