– The Obamas made publishing history
– The have received the highest ever book deal than any other person
– The amount they will get: N9.5 billion each!
Barack and Michelle Obama have made an incredibly juicy deal with their respective memoirs books. The record-breaking joint publishing bidding is now set to reach N19 billion, meaning N9.5 billion for each book.
The Obamas, U.S. power couple.
The former U.S. president and first lady have received offers from such powerhouse names in the publishing industry, such as Simon & Schuster, Macmillan, Harper Collins and Penguin Random House, although this last one ended up with the better edge, having been the ones who published Barack’s three previous books, Dreams from My Father, released in 2004; The Audacity of Hope in 2006; and the children’s book Of Thee I Sing: A Letter to My Daughters, from 2010.
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Covers of the million-dollar book deals the Clintons also received.
These titles have earned Obama around N4.8 billion, although the 2010 book earnings went towards a veteran foundation.
It will be Michelle’s first memoir, so this deal is by far the highest ever paid in a literary debut.
Other presidents and first ladies have also had big book deals. Bill Clinton earned N4.8 billion for his memoirs, and Hillary got around N4.4 billion for her Hard Choices 2014 book.
Even Trump had a previous juicy book release, getting N158 million advance for his 1987 book The Art of the Deal, split with his ghostwriter, and which has earned him millions in royalties over the years.
One of Obama’s previous books.
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The Obamas’ bidding has now been called the “most hotly anticipated deal of the year.”
There was no shortage of interested publishing houses, with Simon & Schuster, Macmillan, Harper Collins and Penguin Random House interested in making an arrangement with the power couple. It is Penguin however who ended up with the better edge, having published Barack’s three previous titles.
The chief executive of Penguin Random House, Markus Dohle, released a statement saying that the publishing company is “absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,” adding they were will be “looking forward to working together” with them, in order to make them become publications of “unprecedented scope and significance.”
Trump’s and Bush’s books.
There is still no set date for the release date of the Obamas’ memoirs.
The Obamas have broken records. No publishing house has ever given anything similar the N9.5 billion they will each get.
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