Insiders at the firm Cantor Fitzgerald LP confirmed to Fox Business that Obama signed a contract to be the keynote speaker at its health care conference.
The fee he will receive is substantially larger than the US$225,000 (NZ$324,000) that former presidential hopeful Hillary Clinton was given for her trio of speeches at Goldman Sachs in 2015.
Former President Obama is set to net $400,000 for speaking at a Wall Street health care conference; that's almost twice what Clinton was paid to become one of the most expensive speakers on Wall Street.
Barack Obama will earn the equivalent of his annual presidential salary to speak at a Wall Street lunch conference later this year. Obama, a progressive Democrat, spoke frequently about Wall Street greed during his eight years as president, and now he's accepting a speaking fee from the industry he singled out as the main culprit of the banking collapse. As Fox Business notes, Obama derided "fat cat bankers on Wall Street" during a 2009 TV interview and regularly blamed big banks for the 2008 recession. The amount is almost twice the money paid to fellow Democrat and the 2016 presidential candidate Hillary Clinton.
A few liberals have censured Mr Obama's discourse choice, with one author saying it "will undermine all that he has faith in".
The New York Post, meanwhile, said his speech made him "Wall Street's newest fat cat". They remain popular and left the White House with high approval ratings.
He was envisioned kite-surfing in February with Richard Branson off the Virgin head honcho's private Caribbean island.
The report surfaced just as the former president returned to Chicago to be a part of his first public event after months out of the limelight.
They were reportedly on holiday with Bruce Springsteen, Tom Hanks and Oprah Winfrey. Yes, we should, because all former presidents do this.
Mr Obama additionally took in a Broadway play in New York City before eating with U2's Bono.