WASHINGTON — President Barack Obama, a best-selling author who received royalties of $2.5 million last year, will get hundreds of thousands more for a youth-oriented version of his published memoir and will write a nonfiction book after he leaves the White House.
Obama agreed in early January to deliver the new book after he leaves office. The White House said he already had a deal with Crown Publishing Group to write another book, and agreed Jan. 9 that he would produce the book after his term ends.
About a week later, shortly before his inauguration, Obama agreed to a $500,000 advance for an abridged version of "Dreams From My Father" that would be suitable for middle school or young adult readers, according to a new personal financial disclosure report released this week.
Obama will get $250,000 of the advance and the publisher will get the other half, a White House spokesman said Thursday, speaking on condition of anonymity because he was not authorized to be quoted by name.
Obama didn't indicate how much he might get for writing the new nonfiction book, whose subject is yet to be determined. Terms likely would be negotiated at the end of his time in office. Former President Bill Clinton got $15 million for his book, "My Life."
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1 comment:
I'm going to write a book and it will be a tell all. I have no idea what it will be about but with everyone getting book deals it's now the way to go.
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