Barack Obama still has three more years left in office, but he’s already scheming for ways to cash in on his two terms of failure. Obama is already reportedly thinking about writing the customary memoir that most former presidents take on once their time in office has finished, but he might make some serious cash for his reflections on life in the White House. Top literary agent Andrew Wylie recently estimated that the 44th president could make anywhere between $17 and $20 million dollars.
If Obama were to receive an amount in that range, it would be the biggest advance for a presidential memoir in history. Bill Clinton received $15 million for his post-presidency book “My Life,” while George W. Bush earned $7 million for his post-presidency memoir “Decision Points.” Hilary Clinton received $8 million for her first memoir “Living History,” and reportedly signed a $14 million deal last year to write a new book on her time as secretary of state.
Although the President has not begun writing his memoir yet, First Lady Michelle Obama has already started working on hers. Wylie confirmed that Michelle is in the initial stages of her memoir and will soon begin shopping the first few chapters around to publishers. She is expected to make around $12 million for the book, which means that the Obamas stand to earn a minimum of $30 million in their first year out of the White House. It is also expected that both of them will be in extremely high demand to speak at various outlets.