It’s become common knowledge that once you leave the presidency, your net worth grows, lucrative speaking engagements are made, and the book deals are finalized. On top of that, you get a six-figure pension and Secret Service protection. As comedian Lewis Black said, though he was referring to the vice president in his bit, “you never hear he was the vice president [or in this case president], but now he’s a heroin addict.” The point is life is good. And for the Obamas, they could have larger bank accounts than the Clintons very soon, according to Andrew Stiles of Heat Street:
Former President Barack Obama could fetch an advance worth more than $20 million to write his post-presidential memoir, according to Hollywood Report. That would be significantly more than the record-breaking $15 million advance former President Bill Clinton received to write his memoir in 2001.
“There’s no doubt Obama’s memoir will go for more than any president’s has ever gone,” publishing executive Esther Newberg told THR. Presidential historian Julian Zelizer cited the “broader fascination with Obama” as driving force behind the hefty advance expectations.
Former First Lady Michelle Obama, meanwhile, is expected to “easily” surpass the $8 million book advance Hillary Clinton received in the wake of the Monica Lewinsky scandal.
Stiles added that Clinton received a $14 million advance for Hard Choices, which was a disaster. The publisher, Simon and Schuster, did not make that amount back in sales. Suffice it to say, the Obamas, like the Clintons, won’t be dead broke.