Former president Barack Obama could make a major coin for his memoir. According to Esther Newberg, co-head of ICM Partners’ publishing unit, Obama get snag an advance of $20 million or more.
“There’s no doubt Obama’s memoir will go for more than any president’s has ever gone,” she predicts.
George W. Bush got $7 million for 2010’s Decision Points (which sold more than 2.6 million copies), and Bill Clinton got a whopping $15 million — a presidential record — for 2001’s My Life (sales of 2.2 million).
Obama has already said penning a memoir is a top priority now that he is out of office. Rumor has it Washington lawyer Bob Barnett will rep him and Cody Keenan, former White House director of speechwriting, will help him pen it. Its speculated, Random House, who published his 1995 memoir Dreams of My Father and The Audacity of Hope in 2008, will be on board as well.
But Barry won’t be the only one with a book coming out in the family. His wife Michelle is said to be eyeing a book deal as well. It’s widely speculated that she’ll make more than the $8 million Hillary Clinton got in 2000 for her memoir.