From US President to billionaire: Publishers fight for Obama book

Former US President Barack Obama could rake in more than $20million (Sh2.08 billion) in advance for a memoir.

Esther Newberg, co-head of ICM Partners’ publishing unit, claims that an Obama memoir would “go for more than any president’s memoir has ever gone”.

Obama, 55, went into the White House as a bestselling author for his books Dreams from My Father, published in 1995, and The Audacity of Hope: Thoughts on Reclaiming the American Dream, published in 2006.

The only other US presidents to enter office as bestselling authors are Dwight D Eisenhower, for his 1948 book, Crusade Of Europe, and Donald Trump for his 1987 book, The Art of The Deal.

Obama, the son of a Kenyan father and American mother, already has three books under his belt: Dreams from My Father; Audacity of Hope; and the children’s’ book, Of Thee I Sing: A Letter to My Daughters (published in 2010).

“There’s no doubt Obama’s memoir will go for more than any president’s has ever gone,” Newberg told the Hollywood Reporter.

After leaving office, George W. Bush got $7million (Sh728 million) for his 2010 Decision Points while Bill Clinton received $15 million (Sh1.56 billion) for his 2001 memoir, My Life.

Bush and Clinton sold 2.6 million and 2.2 million copies of their books respectively.

Princeton University presidential historian Julian Zelizer told the Hollywood Reporter that he thinks sales from Obama’s memoir will top both.

“There is broader fascination with Obama, from conservatives who really hate him as well as liberals who deeply admire what he did,” he said.

Obama, who likely will be represented by Washington lawyer Bob Barnett, recently told senior adviser turned CNN commentator David Axelrod that the book is his top priority. He has already hired Cody Keenan, former White House director of speech writing, to help. While every major publisher will bid for the rights to publish the book, Random House, which published Obama’s 1995 memoir Dreams of My Father and 2006 The Audacity of Hope (combined sales of five million), as well as both the Clinton and Bush books, has the inside track.

One wild card: Obama might find a rival in wife Michelle, whom Newberg predicts will “easily” surpass the $8 million Hillary Clinton got in 2000 for her memoir. Says the University of Virginia’s Brian Balogh, who co-hosts the popular history podcast Backstory: “We haven’t heard as much from [Michelle], and he won’t be running for president, whereas she ...”

-dailymail.co.uk