Former U.S. President Barack Obama is set to be paid $400,000 to deliver a single speech at a healthcare conference organised by the Wall Street firm Cantor Fitzgerald.
The 55-year-old former president returned to the public stage this week to speak at the University of Chicago, where he said he would support future leaders. He told the audience that economic inequality and lack of opportunity, a skewed criminal justice system and climate change must be confronted.
Obama is well known for his oratory prowess, a trait that earned him admiration from many of his supporters, especially during his campaigns.
Since the end of his second term he has started to write his memoir – for which he and his wife Michelle are reportedly receiving $60m – and took a holiday with entrepreneur Sir Richard Branson.
The $400,000 fee that Obama will receive for the healthcare conference speech is nearly double that received by Hillary Clinton, who had hoped to replace him as president, for three speeches at Goldman Sachs in 2015.
During his speech on Monday, the former president pledged to do what he can to help prepare the next generation of leadership.
“The single most important thing I can do is to help in any way I can to prepare the next generation of leadership to take up the baton and to take their own crack at changing the world,” he told students at the University of Chicago.