Stephen A. Smith, the ESPN commentator and political pundit, has publicly questioned how former Democratic Presidents Barack Obama and Bill Clinton amassed substantial wealth following their time in office. Smith highlighted the significant financial growth both men experienced after leaving the White House, contrasting it with their relatively humble beginnings.
"Clinton was a lawyer in Arkansas. Grew up poor, relatively broke. How the hell him and the Clinton Foundation is worth hundreds of millions of dollars beat me," Smith stated, referencing a 2016 Forbes investigation that suggested the Clintons had earned over $230 million since President Clinton's departure from Washington.
Smith then turned his attention to Barack Obama, noting his role as a community organizer before becoming president. "Barack Obama was a community organizer who became the president of the United States and, last time I checked, that salary ain't over $450,000, if I remember correctly," Smith argued. Forbes reported that Obama's net worth increased from $20 million during his presidency to $70 million by 2024, with the former president also owning a $12 million mansion on Martha's Vineyard.
"How the hell you depart from office and you're worth $200 million?" Smith questioned, adding, "It's amazing how these politicians are sworn into office and you're sworn to serve the American people, it's called service. But somehow, someway, they always depart exponentially richer than when they arrived."
Smith attributed this phenomenon in part to lobbyists providing financial support to politicians. While he acknowledged that Donald Trump might also profit from the presidency, his focus remained on the Democrats. Smith stated he had no moral objections to the money made, provided the American public was also prospering. "I'm cool with it if the American people are prospering, but last time I checked, that's not the case," he said. "I don't give a damn what money politicians slide into their own pockets from time to time. If the American people are prospering, get yours. It's a capitalistic society."
This discussion also brought to light past comments from Hillary Clinton, who in 2001 infamously claimed the family was "dead broke" upon leaving the White House.
Since leaving the Obama administration, Hillary Clinton has commanded fees of at least $200,000 for paid speeches. In a 2014 interview with The Guardian, she defended her income level by stating that she and Bill pay "ordinary" taxes. She clarified to Diane Sawyer that the couple charged steep speaking fees due to being in debt after leaving the White House, citing approximately $12 million in legal fees by the end of Bill Clinton's presidency. She added that they were "blessed in the last 14 years" and had "continued to work hard."
The Daily Mail has reached out to representatives for both former President Clinton and former President Obama for comment.