It pays to be an American President. But not in the way you might think. How then? The answer is words—lots and lots of words in published books.
The Obamas will make $40 million from memoirs and books of first hand accounts of life in the White House,family,and relationships and feuds with other political figures.
In addition to this huge money haul, high-ranking publishing insiders are talking at least another '$20 million' in an advance paycheck for First Lady Michelle Obama for her long-awaited - and highly anticipated - memoir about her eight White House years.
Already writing the money spinning tale. A source claims she's been quietly working on her book already.
According to a source, 'Michelle's more popular and likable than Barack - and definitely more salable,' so she's likely to garner an even bigger advance than the president. I agree.
'If I jump into the bidding, I'd definitely offer more for her story than his. Can't argue with that either.
Uncharted waters for the First Lady. As The Wall Street Journal points out, 'Michelle Obama's talents as a memoirist are so far untested, but with a 59 percent approval rating…she is one of the most well-liked figures in American public life.
As publishers prepare to compete for a slew of political memoirs, all eyes are on the president and first lady.' And there is widespread enthusiasm that she won't disappoint her readers.
Book sales have brough a financial transformation to the Obamas. Since becoming the first couple eight years ago, mega book sales have made the Obamas - from middle-class Chicago roots - multimillionaires, with more big bucks on the way from the upcoming memoirs.
There is a stong public desire to know the Obamas true feelings about the Clintons, Donald Trump and the failed Hilary Clinton bid for President.
Record breaking payday compared to past Presidents. Some in publishing are predicting that Obama will beat Bill Clinton who set a record with a $10 million advance for his memoir - a 950-page doorstop entitled, 'My Life,' in which he dealt with such issues as the Monica Lewinsky scandal, but blamed others.
It sold a reported two million copies, and was described as 'self-indulgent' with several inconsistencies in the narrative.
George Bush got a $7 million advance for his presidential memoir, Decision Points.
Obama is set to make two times what Bill made and almost 3 times what George made.