How the Obamas made Sh6.5 billion with three book deals

Former US President Barack Obama to open doors to his presidency with a new memoir in November (Shutterstock)

When Barack Obama was awarded the Nobel Peace Prize just months after he won the 2008 US presidential election, critics said the Nobel committee had rushed to recognise him yet he had not demonstrated his peace credentials.

As a result of the hullabaloo, Obama, then riding the crest of global goodwill, opted to accept the award but forego the cash prize estimated at $935,000 (Sh101.4 millions). This was a small price to pay for a man whose books had shot right through the global best-seller lists when he announced he would be running for the presidency.