Obama Signs Book Deal For Post-Presidency Book

WASHINGTON — President Barack Obama, a best-selling author who received royalties of $2.5 million last year, will get hundreds of thousands more for a youth-oriented version of his published memoir and will write a nonfiction book after he leaves the White House.

Obama agreed in early January to deliver the new book after he leaves office. The White House said he already had a deal with Crown Publishing Group to write another book, and agreed Jan. 9 that he would produce the book after his term ends.

About a week later, shortly before his inauguration, Obama agreed to a $500,000 advance for an abridged version of "Dreams From My Father" that would be suitable for middle school or young adult readers, according to a new personal financial disclosure report released this week.

Obama will get $250,000 of the advance and the publisher will get the other half, a White House spokesman said Thursday, speaking on condition of anonymity because he was not authorized to be quoted by name.

Obama didn't indicate how much he might get for writing the new nonfiction book, whose subject is yet to be determined. Terms likely would be negotiated at the end of his time in office. Former President Bill Clinton got $15 million for his book, "My Life."

Obama received nearly $2.5 million in book royalties last year for his two best-selling works _ "Dreams From My Father," which was written before he was elected to the Senate from Illinois, and "The Audacity of Hope."

Obama's financial disclosure report released this week covers January through Nov. 16, 2008, when he left the Senate. It shows that he and his wife, Michelle, have $1.3 million to $5.7 million in assets, which does not include their Chicago home. In addition, they have up to $550,000 in college savings plans for their two daughters.

The Obamas' holdings include $1 million to $5 million in Treasury bills purchased in October. They sold $500,000 to $1 million in Treasury notes last April, according to the report.

The book deal was first reported Wednesday by Congressional Quarterly.

Comments

[Forester]

"Bush book thunder"
no, I don't think so.

[obamaworship]

Still won't stop this from happening

http://www.flickr.com/photos/coyote2012/3340867099/

[hortonhearsawho2]

Who knew, they could clone Cra.p...u look even more real then the original.

[MizLiz]

Warning! Silly picture alert!

[Bitsko]

"Bush Book Thunder"? For once I have to hand it to the HuffP0 headline writer for being ironic.

[Fabu]

I think that is great. I love his writings. I was really hoping that he would post a list of what he's currently reading on the whitehouse.gov site, sort of like a book club. Oh well maybe he still will.

[-0013]

"I was really hoping that he would post a list of what he's currently reading on the whitehouse.gov site, sort of like a book club."

Right on. Go President Oprah!

[toocoldout]

What kind of publisher would publish a book written by Bush? I think it's a disgrace.

[mssreader]

Waste of ink paper and time. Can't imagine who would want to read it except perhaps his buddy cheney.

[freedomitchy]

The president negotiating for his personal gain with anyone or any corporation is inherently unethical. The president should not be making deals with private corporations.

[allonfla]

oh shut up! he'll be doing this after he leaves office. do you think crown publishing is going to need a bailout?

[swanie]

HEY STUPID he did the DEAL BEFORE HE BECAME PRESIDENT.

.

[slarabee]

Nonsense.

[hortonhearsawho2]

might wanna try wiping b4 flushing , genius...

[surfcitysteven]

Bush Memoir? The autobiography of a lousy punk who was born with a silver spoon in his mouth, never did anything useful or of any value in his whole life, destroyed the greatest country in the world and then went on to live out the rest of his pathetic life in Texas.

[LizinOhio]

Not to mention the businesses he ran into the ground! But hey, Bush's memoir will be a book of fiction, er, I mean, facts based on his unique vision of his presidency.

[MizLiz]

I thought Bush '41 was a fairly good president...even if he did pick that twit Dan Quayle for VP--"the ladies will love him! he looks just like Robert Redford!"

However, he was a lousy father, and he didn't pay nearly enough attention to The Shrub when he was growing up. A challenging job is no excuse. obama can parent just fine.

[BigGuy]

No president has been as conscientious as George W. Bush about following a daily exercise program, keeping regular hours, and being properly dressed inside the White House when conducting the people's business.

Based upon these three criteria alone, he's the best we've ever had.

Many of us do not define success, especially for the leader of the free world, primarily by these three criteria. But for those of us who do -- perhaps George W. Bush himself and his valet -- he was a great success.

[surfcitysteven]

Except for those days when he was getting drunk and choking on pretzels.

[roshni]

I will certainly buy and read this book. I have all his others. My favorite is Dreams From My Father. Our president is a brilliant writer.

[-0013]

Great. I suppose if this next book is a really good read it will make up for my 401K being drained.

[totheknee]

Who would have thought that there would be a rather large headline about anything to Bash Bush on this fair and balanced web-site. If they let this slide by I think the world would quit spinning.

[Hopemonger38]

Go Barack!

---they gotta pay for that swingset somehow!

[hortonhearsawho2]

and we r left to subsidize ur cell....

[epitomized]

This right here proves why Obama is brilliant.

He inked this deal so that he gets a paycheck no matter how his time in office turns out. He was *thinking ahead.* His political capital was at its highest (post election, pre-inauguration) and he took advantage of it.

THINKING AHEAD!

That is what we needed in the WH and that is what we got.

The naysayers (conservatives) should put aside their hate for Obama and realize that this was a brilliant business decision which make it certain that the Obama family will not be living off government subsidies. That IS what you're all about, right? So why are you complaining? Oh, because you will hate Obama no matter what he does.

[roshni]

I think it's twofold. Yes, he;s thinking ahead, but he also likes to communicate with people and keep them apprised of what he is thinking.

[prog]

Obama is already a writer and bestselling author. I can see the point of getting this sewn up way ahead of time.

[theone718]

Amazing that O was pretty broke before his book sales soared. He will ink for at least 20 mill after his plans put this country back on the right track.

[hortonhearsawho2]

u and sarah keep the clothes, its okay...which pumps are ur favorite.

[mypov123]

I liked the red ones LOL

[roshni]

The books are brilliant. I'm glad people are reading them. The audio books are great too. He has an amazing voice.

[-0013]

The Teleprompter of United States certainly has a good voice.

[MicrowavableJohnnyCakes]

Pretty broke? He was a law professor and an attorney before getting into politics while Michelle made six figures as an executive at a hospital. You must have a rather odd definition of "broke."

[cocolola]

I really don't want to think of President Obama out of office just yet. A book deal at this point is a little weird.

[hortonhearsawho2]

Be really really wierd if the mirror answered you back....

[Deparis]

You mean President Obama at the outset of his presidency or even before assuming the oath of office already had publishers lining up to negotiate book deals while W Boosh even after leaving office continues to get the middle finger from them publishers? Now, that's telling!

[roshni]

Obama was an author before he was president. Bush is still at the coloring stage but I heard he is coloring closer to the lines nowadays.

[NCYvonne]

ROTFLMAO! Now, that's funny . . . and true!