Obama's speech at the Cantor Fitzgerald event is set for September.
Some notable liberals are not happy with former President Barack Obama's decision to give a speech at a Wall Street conference.
Barack Obama reportedly signed the contract to give a speech at the rate of $400,000, but the NY investment bank isn't ready to make the announcement until other details are finalized with the former president. Obama, during his 8 year tenure at the White House as the President was known to have had hard relations with the business sector as he had found the high bonuses paid to bank executives unacceptable and was of the opinion that Wall Steet was in many ways responsible for the 2008 financial crisis. Obama's fee for the speech, the New York Times reported, is a major increase from the fees paid to other former Presidents.
"I did not run for office to be helping out a bunch of fat cat bankers on Wall Street."According to the Washington Post, her husband and former president Bill Clinton "earned more than $16.3 million for 72 speeches" in 2012 - averaging around $226,000 per speech.
The news of Obama's bounty from Cantor Fitzgerald, whose multi-millionaire chairman, Howard Lutnick, backed Jeb Bush in the 2016 election, follows a three-month vacation that involved island hopping in the Caribbean and South Pacific and kite surfing and yachting with billionaires.
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He was pictured kite-surfing in February with Richard Branson off the Virgin tycoon's private Caribbean island.
Obama spoke publicly for the first time since leaving office at an event Monday at the University of Chicago in the former president's home city.
Barack Obama is about to join the list of ex-presidents who make staggering amounts of money for doing what politicians do best: talking. Also on the yacht were stars including musician Bruce Springsteen and actor Tom Hanks.
Mr Obama additionally took in a Broadway play in New York City before eating with U2's Bono.
They are expected to receive $65 million for the deal.