A post-presidency memoir by Barack Obama could be one for the record books. The 44th Leader of the Free World could bring in a $20 million advance, which is more than any president before him.
Obama is also speculated to earn up to $30 million for a book deal. That would place him ahead of George W. Bush’s $7 million deal for “Decision Points” in 2010 and Bill Clinton’s $15 million offer for “My Life,” released in 2001.
Esther Newberg, executive vice president of literary agency ICM Partners, told Forbes Obama could get the multimillion-dollar offer since he will write the book himself like he did with his 1995 memoir “Dreams from My Father” and “The Audacity of Hope,” released two years before his 2008 presidential campaign.
“Not only was he the first African-American president and hugely popular, he’s already shown us that he can, in fact, write,” Newberg said. “And, he’ll look like the King of Siam next to Trump.”
It seems like POTUS44 is eager to get the ball rolling on the project. He recently told former senior adviser David Axelrod the book is his main priority, and Cody Keenan, former director of speechwriting, is on hand to assist. As the publisher for his past works, Random House is the likely candidate to release it, according to The Hollywood Reporter.
Obama could earn $30 million with a two-to-three book deal after leaving office, ICM/Sagalyn literary agent Raphael Sagalyn told The New York Times in September.
“His is going to be easily the most valuable presidential memoir ever,” he said. “And I think Michelle Obama has the opportunity to sell the most valuable First Lady memoir in history.”
Publishers weren’t as generous with their estimates. They told the newspaper Barack Obama is more likely to fetch a $12 million advance and Michelle Obama can expect to get $10 million.