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.
Hillary Clinton was taken to task during the presidential campaign past year for her speeches to Goldman Sachs in 2015.
Sources say there's a lot of flexibility in Barack Obama's contract to speak at the fall event, such as schedule conflicts or if there are any other concerns like "adverse publicity".
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While preaching his signature "hope and change" message at the University of Chicago, the former president spoke extensively about the need for public service.
"There's a reason why I am always optimistic, even when things look like they are sometimes not going the way I want", he said at a round table about youth participation in civic life, according to the Hill. "And that's because of young people like this".
However it now appears that Mr Obama has mended his fractious relationship with Wall Street, and will appear at the Cantor Fitzgerald conference later this year. The pay out would also come to the same amount of money that presidents have received as annual salary. The amount is almost twice the money paid to fellow Democrat and the 2016 presidential candidate Hillary Clinton.
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If that entails working on a memoir, publisher and literary agents consulted by the New York Times said such a contract would be worth somewhere between $12 and $30 million.
"Is there an irony here because he spoke incessantly about the income gap and is now earning from those same people he criticized?"
Those speeches became a talking point during the 2016 election campaign, and were used as a political tool by her contender Donald Trump, who is now President. Obama's speaking fee will be $400,000, which is nearly double what Hillary Clinton earned from private businesses to give speeches.
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Former Federal Reserve chairman, Ben Bernanke, raked in between $200,000 and $400,000 per speaking engagement, according to The New York Times, for global audiences which included "a Middle Eastern bank, private equity firms and trade associations". The fees go directly to the Clinton Foundation.