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Rediff.com  » News » Clintons make a neat pile on the speech circuit

Clintons make a neat pile on the speech circuit

By A correspondent
April 09, 2008 14:18 IST
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For Bill Clinton, arguably one half of America's most powerful couple, fortune seems to have favoured him on leaving the White House in January 2001.

According to their tax returns released last week, in the seven years since, the couple has earned $110 million - almost of which came from the former US President's speaking assignments, reports the Chicago Tribune.

Of this amount, Bill Clinton accounted for more than $80 million, thanks mainly to his hectic schedule of speeches, book royalties, deals with two businessmen, apart from his pension and investments.

So how much does the ex-President charge for his speeches?

The Fortune Forum, brainchild of London socialite Renu Mehta, for instance paid Clinton $450,000 in September 2006, almost one-third of the amount raised for charity by the high-profile event.

Perhaps the former President discounted his usual fee since the intent was charity; earlier the same day, Clinton charged $280,000 for a for-profit partnership, and a similar amount the next day for a speech in Dublin, Ireland. His fee included travel costs.

Clinton's windfall since leaving the White House has come in handy for the couple, especially helping in keeping afloat Hillary Clinton's campaign for the same address.

The Chicago Tribune also quotes Hillary's spokesperson Jay Carson as saying that Bill Clinton gives many speeches for charity.

Renu Mehta got through to the Clintons through a mutual friend, Indian-American entrepreneur Sant Chatwal, a major fundraiser for Hillary's presidential campaign. In the past, Chatwal has also found himself battling the administration, both in the US and in India, over disputed tax liabilities and a bankruptcy, reports the Tribune.

Chatwal, a realtor and restauranteur from New York City, was dogged by claims running into millions of dollars. He filed for bankruptcy in 1995. His attorney told the Tribune that Chatwal had settled the last of the cases against him in 2007.

But through his troubles, Chatwal maintained his links with the Clintons, even hosting a $500,000 fundraiser in September 2000 for Hillary's first Senate campaign. Last year, he pledged to raise $5 million for her White House run.

As for concerns that those who have done business with or contributed to their causes may influence a potential Clinton administration, Carson tells the Tribune: 'Senator Clinton makes policy decisions on merit and what she believes is best for the matter before her.'

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