The New York Post lede says it all:
Reed Hastings and the Obamas are making bank with Netflix deal.
We don’t know exactly how big that bank is, but we do know that the Obamas will produce “films and series for Netflix, potentially including scripted series, unscripted series, docu-series, documentaries and features” to fill their vault.
Interestingly, the article notes:
“Netflix in 2007 had a $3 share price and was mailing DVDs to people. The Obamas were poised to enter the White House and then had a reported net worth of $1.3 million, according to CNN Money.
“Fast-forward to 2018. The Obamas have an estimated combined net worth of $75 million, according to published reports, mainly derived from speeches and a two-book deal with Penguin Random House.
“Hastings’ move to streaming helped him amass $4.7 billion, according to the Bloomberg Billionaires Index.”
You may remember President Obama ordered his FCC to impose Net Neutrality, heavily subsidizing / protecting / favoring companies like Netflix over ISPs (and others) in the marketplace.
Yes, the Obamas’ bank should be big (reportedly at $50 million).
Of course, we’ll hear from the adoring Obama press this week (if we do at all) that there’s not a smidgen of corruption or cronyism in the (re)new(ed) union.
Sure. Pay no attention to the revolving door.