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When discussing his post-White House plans, former president Barack Obama shared that he wanted to focus on penning a book. According to Forbes, he may receive a $20 million advance for his memoir.

Esther Newberg, co-head of ICM Partners’ publishing unit, says that he is likely to garner more advance money than any other president in history for his book.

From Forbes:

Newberg has no doubt in her prediction that Obama’s memoir will yield the highest advance ever paid to a president, citing that not only is he going to write his memoir himself, but that he’s already paved the road to his success as an author with previous books that did very well, including Dreams from My Father: A Story of Race and Inheritance, The Audacity of Hope: Thoughts on Reclaiming the American Dream and Of Thee I Sing: A Letter To My Daughters. Together these have sold more than 4 million copies and garnered more than $10 million in sales. Random House is the likely publisher for his memoir, though a bidding war is expected. 

“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 over the phone. “And, he’ll look like the King of Siam next to Trump.”

Publishers and literary agents believe that Michelle Obama has the opportunity to sell the “most valuable” memoir to ever be written by a first lady, reports Forbes.

Obama will reportedly enlist the help of former White House director of speechwriting Cody Keenan to pen the memoir. He will be represented by lawyer Bob Barnett, according to the outlet.

SOURCE: Forbes


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