Earlier this month, we did a post on the massive amount of money Barack and Michelle Obama are going to make as speech givers in their post-White House lives (hint: it was A LOT). But even after running the numbers in that story, we’re still shocked with how much their upcoming book deals could be worth.
Obama Book Deals
According to the Financial Times, there is an auction for the “global rights to two books by Barack and Michelle Obama” that has reportedly “reached more than $60 million…The Obamas are writing separate books but selling the rights jointly.”
To put that astronomical $30 million per person figure in perspective, George W. Bush earned “just” $10 million for Decision Points. The Obamas are caking!
Who’s getting in on this bidding war? It sounds like well-known publishers such as HarperCollins, Simon & Schuster and Penguin Random House have all thrown their hats into the ring. Quick FYI: Penguin Random House published Big O’s other books and HarperCollins is owned by vocal Republican Rupert Murdoch, so you can guess which publisher has the edge.
From the Financial Times:
“One executive from a publisher interested in acquiring the rights, who asked not to be named, said that while Penguin Random House had made a ‘big move’ to secure the books, other publishers were watching the situation closely before deciding their next steps.”
Barack’s first two books – Dreams from My Father and The Audacity of Hope – both received praise from critics and the former even landed on Time‘s 100 best non-fiction books since 1923 list. Now that he’s unshackled from the restrictions of the White House, Barack’s upcoming book is sure to be a Best Seller with some more upfront opinions from the former president. Couple that with the immense popularity Michelle has earned in her own right and you’re looking at a serious power couple in the media world (watch out, Jay and Bey).
We’ll be sure to update you when the final facts and figures come out.