More Than $20 Million Advance For Obama’s Post Presidential Memoir

Former US President Barack Obama could make as much as $26 million in advance for his post-presidency memoirs. This will probably be the largest advance of all time for a book of this kind particularly since the Obama administration has a very historic nature. According to Hollywood Reporter, Esther Newberg the Obama memoir would “go for more than any president’s memoir has ever gone.”

When asked about his plans after leaving the white House, Obama says that writing a book will be his first priority. Obama’s first novel “Dreams From My Father” that was published in 2004 became a bestseller. In 2007, Obama’s The Audacity of Hope” was published and in 2010, his children’s book “Of Thee I Sing: Letters to My Daughters” was sold in bookstores.

If you will take a look at the past presidents of the United States, George W. Bush received $9 million after leaving the Oval Office for 2010’s “Decision Points” while Bill Clinton got $20 million for his 2001’s “My Life”. Bush’ memoirs sold 2.6 million copies while that of Clinton’s sold 2.2 million copies.

Julian Zelizer, presidential historian from Princeton University, thinks that the sales of Obama’s book will exceed that of the former US presidents. People whether they are the conservatives who hate the former president or the liberals who admire him are certainly fascinated with Barack Obama. According to literary agent Raphael Sagalyn, Obama has the opportunity to earn as much as $30 million for a 2 or 3 post-presidency book contract.

There are also speculations that Michelle Obama may also be offered a book deal which are expected to top off that of the president. Hilary Clinton reportedly earned $10 million from her memoirs “Living History.” Michelle Obama has the opportunity to earn more than Hilary Clinton with her memoirs which are considered to be very valuable.

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