How Ex-Presidents and Prime Ministers Make their Money

Getty Images
Getty Images

Upon taking up residency in the White House, a president also assumes a tidy salary of $400,000 a year, plus extra cash for expenses. That's certainly not the kind of change you'd find under most couch cushions, but it's not such a princely sum that the president will be set for life when leaving office. While many leaders are either independently rich enough or old enough that they just retire after leaving office, others are desperate to make a buck or a pound. So how do ex-presidents and other former world leaders support themselves as they while away the autumn of their years?

The Very Broke Harry Truman:

When Truman's presidency ended in 1953, he headed home to Independence, Missouri, but there was a nagging problem: he didn't have any money.  His business interests from prior to his political life hadn't generated any sort of savings for him, and he thought that taken a corporate position or endorsing products would cheapen the presidency. His only income was a $112-a-month army pension, so he did what former presidents now do without thinking:  he sold his memoirs. Truman received a $670,000 deal for the two-volume memoirs, but after taxes and paying his assistants, he only netted a few thousand dollars on the project. Things got so dire that Congress passed the Former Presidents Act in 1958, which gave retired commanders in chief pensions of $25,000 a year.  At least his health insurance was eventually covered; when Lyndon Johnson signed Medicare into law in 1965, he presented President Truman and his wife, Bess, with the first two Medicare cards.

Jimmy Carter:

Carter famously rose to the presidency from humble roots as a Georgia peanut farmer, but when he assumed office he placed his business and farming issues in a blind trust to avoid any potential conflicts of interest. It was a noble act, but it didn't play out so well for Carter; when he resumed control of his assets, he was a million dollars in debt. He needed dough, so he started writing. And writing. Although he's known for his work with Habitat for Humanity and his willingness to go on global diplomatic missions, Carter is a shockingly prolific author of over 20 books. Some of his tomes are standard memoirs and political texts, but Carter's also penned children's books, a volume of poetry, a historical novel, and Bible-study guides.

Bill Clinton:

Bill Clinton pulls in $250,000 to give a speech, which has been a fairly lucrative racket for him. A 2007 report in the British newspaper The Independent estimated Clinton's earnings from speeches alone at somewhere in the neighborhood of $40 million since he left office six years earlier. Clinton also sold his memoir My Life to Knopf for $15 million, and he serves as an advisor for the private equity firm Yucaipa Companies, a post that has pulled in at least $12.6 million. When the Clintons released their tax data in April 2008 as part of Hillary's campaign disclosures, they showed income of $109 million since leaving the White House.

Margaret Thatcher:

Although declining health has slowed her down lately, Thatcher was fairly busy after stepping down as Prime Minister in 1990. She remained in the House of Commons until 1992. She received the title Baroness Thatcher that year, which got her a spot in the House of Lords. Thatcher also penned a two-volume memoir, The Path to Power and The Downing Street Years, which hit the New York Times' best-seller lists in 1993 and 1994. On top of that, she served as Chancellor of the College of William and Mary from 1993 to 2000 and penned the international relations text Statecraft:  Strategies for a Changing World in 2002. All of this work must have left Thatcher pretty set; after all, she has given Cambridge two million pounds to endow a chair in her name.

John Major:

Thatcher's successor as Prime Minister has had a decidedly more low-key life since leaving the post in 1997. As an avid cricket fan, he served as the president of the Surrey County Cricket Club from 2000 to 2001 and has been on the Committee of the Marylebone Cricket Club since 2005. He also joined the private equity firm the Carlyle Group's European Advisory Board in 1998 and supposedly rakes in 25,000 pounds for each speech he gives on the lecture circuit.

Tony Blair:

Like Bill Clinton, Blair got a book advance that ensured he wouldn't have to hit up any of his friends for a pound or two from time to time. In October 2007 the New York Times reported that Random House purchased Blair's memoir for a staggering $9 million. Or rather, they purchased the rights to the memoir once it's written; despite receiving the gigantic advance, Blair's spokesman admitted that the former Prime Minister hadn't gotten a chance to "put pen to paper" when he signed the deal. On top of the sweet advance, Blair's also pulling in cash as an advisor on climate change for Zurich Insurance and as a senior advisor for JPMorgan, both of which have been reported as six-figure-a-year jobs. He's also making 500,000 pounds for a series of speeches and will teach a course on faith and globalization at Yale this year.

10 of the Best Indoor and Outdoor Heaters on Amazon

Mr. Heater/Amazon
Mr. Heater/Amazon

With the colder months just around the corner, you might want to start thinking about investing in an indoor or outdoor heater. Indoor heaters not only provide a boost of heat for drafty spaces, but they can also be a money-saver, allowing you to actively control the heat based on the rooms you’re using. Outdoor heaters, meanwhile, can help you take advantage of cold-weather activities like camping or tailgating without having to call it quits because your extremities have gone numb. Check out this list of some of Amazon’s highest-rated indoor and outdoor heaters so you can spend less time shivering this winter and more time enjoying what the season has to offer.

Indoor Heaters

1. Lasko Ceramic Portable Heater; $20

Lasko/Amazon

This 1500-watt heater from Lasko may only be nine inches tall, but it can heat up to 300 square feet of space. With 11 temperature settings and three quiet settings—for high heat, low heat, and fan only—it’s a dynamic powerhouse that’ll keep you toasty all season long.

Buy it: Amazon

2. Alrocket Oscillating Space Heater; $25

Alrocket/Amazon

Alrocket’s oscillating space heater is an excellent addition to any desk or nightstand. Using energy-saving ceramic technology, this heater is made of fire-resistant material, and its special “tip-over” safety feature forces it to turn off if it falls over (making it a reliable choice for homes with kids or pets). It’s extremely quiet, too—at only 45 dB, it’s just a touch louder than a whisper. According to one reviewer, this an ideal option for a “very quiet but powerful” heater.

Buy it: Amazon

3. De’Longhi Oil-Filled Radiator Space Heather; $79

De’Longhi/Amazon

If you prefer a space heater with a more old-fashioned vibe, this radiator heater from De’Longhi gives you 2020 technology with a vintage feel. De’Longhi’s heater automatically turns itself on when the temperatures drops below 44°F, and it will also automatically turn itself off if it starts to overheat. Another smart safety feature? The oil system is permanently sealed, so you won’t have to worry about accidental spills.

Buy it: Amazon

4. Aikoper Ceramic Tower Heater; $70

Aikoper/Amazon

Whether your room needs a little extra warmth or its own heat source, Aikoper’s incredibly precise space heater has got you covered. With a range of 40-95°F, it adjusts by one-degree intervals, giving you the specific level of heat you want. It also has an option for running on an eight-hour timer, ensuring that it will only run when you need it.

Buy it: Amazon

5. Isiler Space Heater; $37

Isiler/Amazon

For a space heater that adds a fun pop of color to any room, check out this yellow unit from Isiler. Made from fire-resistant ceramic, Isiler’s heater can start warming up a space within seconds. It’s positioned on a triangular stand that creates an optimal angle for hot air to start circulating, rendering it so effective that, as one reviewer put it, “This heater needs to say ‘mighty’ in its description.”

Buy it: Amazon

Outdoor Heaters

6. Mr. Heater Portable Buddy; $104

Mr. Heater/Amazon

Make outdoor activities like camping and grilling last longer with Mr. Heater’s indoor/outdoor portable heater. This heater can connect to a propane tank or to a disposable cylinder, allowing you to keep it in one place or take it on the go. With such a versatile range of uses, this heater will—true to its name—become your best buddy when the temperature starts to drop.

Buy it: Amazon

7. Hiland Pyramid Patio Propane Heater; Various

Hiland/Amazon

The cold’s got nothing on this powerful outdoor heater. Hiland’s patio heater has a whopping 40,000 BTU output, which runs for eight to 10 hours on high heat. Simply open the heater’s bottom door to insert a propane tank, power it on, and sit back to let it warm up your backyard. The bright, contained flame from the propane doubles as an outdoor light.

Buy it: Amazon

8. Solo Stove Bonfire Pit; $345

Solo Stove/Amazon

This one is a slight cheat since it’s a bonfire pit and not a traditional outdoor heater, but the Solo Stove has a 4.7-star rating on Amazon for a reason. Everything about this portable fire pit is meticulously crafted to maximize airflow while it's lit, from its double-wall construction to its bottom air vents. These features all work together to help the logs burn more completely while emitting far less smoke than other pits. It’s the best choice for anyone who wants both warmth and ambiance on their patio.

Buy it: Amazon

9. Dr. Infrared Garage Shop Heater; $119

Dr. Infrared/Amazon

You’ll be able to use your garage or basement workshop all season long with this durable heater from Dr. Infrared. It’s unique in that it includes a built-in fan to keep warm air flowing—something that’s especially handy if you need to work without wearing gloves. The fan is overlaid with heat and finger-protectant grills, keeping you safe while it’s powered on.

Buy it: Amazon

10. Mr. Heater 540 Degree Tank Top; $86

Mr. Heater/Amazon

Mr. Heater’s clever propane tank top automatically connects to its fuel source, saving you from having to bring any extra attachments with you on the road. With three heat settings that can get up to 45,000 BTU, the top can rotate 360 degrees to give you the perfect angle of heat you need to stay cozy. According to a reviewer, for a no-fuss outdoor heater, “This baby is super easy to light, comes fully assembled … and man, does it put out the heat.”

Buy it: Amazon

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Decorate Your Home With Hand-Sculpted Busts of Abraham Lincoln, Barack Obama, and More

House of Bust
House of Bust

If you're a history buff, chances are you've found plenty of people to admire over the years, whether it's an elected official, inventor, or entertainer who helped make the world a little bit better. House of Bust is looking to immortalize some of these important figures so you can display them right in your home with a series of handcrafted busts available on Kickstarter.

For the past two years, the House of Bust team has been developing, designing, and testing these busts for release. And the first sculptures they will be showcasing include President Abraham Lincoln, President Barack Obama, Senator Bernie Sanders, and Vice President Joe Biden, along with the late Ruth Bader Ginsburg and Albert Einstein. These figures will be available in white, gray, black, and—if you're feeling particularly fancy—gold. As the campaign gains more pledges, other icons will join the House of Bust line.

House of Bust

These busts aren’t just simple decorative items to be left to collect dust on a shelf. They've been meticulously tested and made to ensure the best quality possible. It took more than 300 hours for the House of Bust team—including 3D design experts and sculptors—to finalize each statue, from sculpting to modeling to finishing. The busts are made from a powdered stone resin and weigh between six and eight pounds apiece.

House of Bust has already surpassed its fundraising goal of $20,000, thanks to more than 600 backers. Even though they've achieved their initial goal, you can still support the project through its different pledge tiers. To receive one bust of your choosing, you can contribute $99 (or $139 to get it gold-plated). If you don’t want your hero to feel lonely, you can get a pair for $198, a trio for $290, or six for $560. You can even pick the next bust they develop by pledging $1000, or you can give $5000 and the team will turn you into a bust (not literally, though).

You can back House of Bust here until November 13 through Kickstarter, with shipments expected to begin by December 2020.

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