On Tuesday, the news broke that Barack and Michelle Obama signed book deals with Penguin Random House. Although the financial terms of the deals were not released, bidding for the upcoming Obama books reached $60 million before it closed. This remarkable achievement has set the stage for what could be a lucrative literary career for the former First Family.
The Obamas' book deals significantly surpass those of former presidents Bill Clinton and George W. Bush, who received $15 million and $10 million, respectively, for their post-presidency memoirs. This highlights the unique position the Obamas find themselves in, potentially earning as much as $242.5 million over the next 15 years through their book deals, speaking engagements, and a government pension of $200,000 per year.
When the Obamas entered the White House, their net worth was a modest $1.3 million. Fast forward to now, and they are on the brink of substantial financial success. With two bestselling books already to his name, President Obama has paved the way for a promising memoir that is expected to become the most valuable presidential memoir in history.
| Detail | Information |
|---|---|
| Names | Barack Obama, Michelle Obama |
| Book Deal Amount | $60 million |
| Previous Book Deals | Bill Clinton: $15 million, George W. Bush: $10 million |
| Potential Earnings | $242.5 million (over 15 years) |
| Net Worth Upon Entering White House | $1.3 million |
| Government Pension | $200,000 per year |
The Obama memoirs are anticipated to focus on their time in the White House, and analysts predict they could generate between $20 million and $45 million. Additionally, the couple's speaking engagements present another lucrative opportunity, with former President Bill Clinton reportedly earning an average of $211,000 per speech in the years since leaving office.
Ultimately, being the President of the United States is a prestigious role, but the opportunities that arise from being a former president can lead to even greater financial rewards.
