Regardless your political affiliation, there’s an undeniable fascination with former President Barack Obama and per Esther Newberg, co-head of ICM Partners’ publishing unit, this is one reason he is likely to get more than any president has with at least a $20 million advance for his memoir.
In fact, 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.”
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source: Dana Feldman /Forbes.com