Most of President Obama’s net worth has come from the sales of his books, but you can expect his next book to skyrocket his wealth to the next level.
For his 16,000 word profile of President Obama, New Yorker editor David Remnick asked top literary agent Andrew Wylie how much the 44th president could fetch for his reflections on life in the White House. The answer? Somewhere between $17 and $20 million dollars. That would be the biggest advance for a memoir in history, topping Bill Clinton, who nabbed $15 million for his post-presidency memoir “My Life.”
Hillary Clinton, who reportedly got $8 million advance for her first memoir “Living History,” signed a deal last year for a new book on her time as secretary of state. The advance was rumored to be in the $14 million range.
In comparison, President Bush’s post-presidency memoir, “Decision Points,” reportedly garnered the 43rd president a measly $7 million advance.
President Obama won’t be the only one in his family making bank for writing a book after his White House days are over. Wylie told Remnick that Michelle Obama’s memoir, which she is reportedly already working on, could fetch as much as $12 million from publishers.