Biden not seeing cash windfall typical of post-presidency
The article reports that former President Joe Biden is experiencing difficulties securing speaking engagements as leaving office, leading to a smaller-then-expected financial gain typical of post-presidency periods. This issue adds to other signs of limited financial windfall, including a comparatively modest $10 million book advance for his presidential memoir-much less than the advances received by Barack and Michelle Obama or Bill Clinton-and challenges in raising funds for his presidential library in Delaware. The article notes that Biden’s post-presidential financial opportunities are constrained amid political criticisms from Republicans and some Democrats, as well as potential donor hesitation with Donald Trump back in the presidency. Despite these setbacks, Biden’s presidential library board chairman expresses cautious optimism about fundraising goals.
Biden not seeing cash windfall typical of post-presidency
Former President Joe Biden is having a difficult time securing speaking engagements in the year following his presidency, according to a report.
The newest reported speaking arrangement woes continue to minimize the scope of Biden’s post-presidency financial windfall compared to what is typically expected after a president leaves the Oval Office. It follows a book deal advance signed for less than that of his recent Democratic counterparts, and reports he may face challenges in fundraising for his presidential library.
Companies booking Biden for speaking arrangements have been “limited,” according to the Wall Street Journal report published Tuesday.
The Washington Examiner did not hear back from a Biden spokesperson or Biden’s booking representative, CAA Speakers, after requests for comment.
Biden signed his book deal advance with Hachette Book Group for $10 million in July. The deal for his presidential memoir is less than what former Presidents Barack Obama and Bill Clinton received for their book advances. Both Obama and former first lady Michelle Obama signed with Penguin Random House for about $60 million, while Clinton signed with Alfred A. Knopf for $15 million.
Biden also may be having difficulty fundraising for his presidential library, which will be located in Delaware.
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The former president has been the subject of consistent ridicule from President Donald Trump and Republicans as they blame his administration for several policy issues, mainly related to the economy and immigration. He has also taken some heat from Democrats for not dropping out of the 2024 presidential election earlier and making way sooner for former Vice President Kamala Harris’s bid. Now that Trump is president, some donors could be less inclined to give.
“There’s certainly folks — folks who may have been not thinking about those kinds of issues who are starting to think about them,” Biden’s presidential library board chairman Rufus Gifford told the Associated Press. “That being said … we’re not going to create a budget, we’re not going to set a goal for ourselves that we don’t believe we can hit.”
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