Life after the Oval Office is often synonymous with big cash flow for former US presidents. Barack Obama is no exception to the rule. The first volume of his memoir, “A Promised Land”, is released in the United States and in 23 countries on Tuesday. And it’s destined to become a bestseller. The demand is such that the American publisher, Crown Publishing Group, a subsidiary of Random Penguin, will draw 3.4 million copies instead of the 3 million planned.
Over the 843 pages of the French version published by Fayard in 200,000 copies, Barack Obama recounts his odyssey, from his first steps in politics to the highlights of his first term as President of the United States, while reflecting on his experience as President of the United States. father and husband. A story that sells for more than those of its predecessors.
Barely out of the White House in 2017, Barack and his wife Michelle Obama negotiated $ 60 million (50 million euros) in advance for their respective memories. Those of Michelle Obama, “Devenir”, were published in 2018. The former First Lady has since sold more than 14 million copies around the world, including 500,000 in France. Not to mention the income related to the twenty “goodies” accompanying the book, mugs at 20 dollars (17 euros) or candles at 35 dollars (30 euros). For comparison, Bill Clinton had received 15 million dollars (13 million euros) in advance – a record at the time – for his memoir “My Life”, published in 2004.
Barack Obama doesn’t earn the best his living through politics. As ex-president, he receives a comfortable salary of 200,000 dollars (170,000 euros) per year, which is half the annual 400,000 dollars (340,000 euros) paid to the incumbent head of state. And like all former prominent politicians, he is paid handsomely to give speeches in the private sector. Up to $ 400,000 (340,000 euros) per intervention against 225,000 dollars (190,000 euros) for Michelle Obama.
The remainder of the couple’s fortune – estimated at $ 40 million (34 million euros) by Celebrity Net Worth and up to $ 135 million (115 million euros) by the New York Post – comes to him from the world. cultural. Three previous books brought in $ 15.6 million (€ 13 million) to the former president between 2005 and 2016.
The couple own three houses
Barack and Michelle Obama, aware of their enormous popularity with American Democrats, also signed a production contract with Netflix in 2018 estimated at 50 million dollars (42 million euros). A documentary accompanying the release of “Devenir”, released in May, was part of this deal. More recently, Michelle Obama took to podcasting, thanks to a partnership with Spotify.
These pretty sums allowed the family to invest in real estate, with an $ 8 million (6.7 million euros) house in one of Washington’s most affluent neighborhoods, another close to $ 12 million (10 million euros) on the island of Martha’s Vineyard, Massachusetts, in addition to their home in Chicago, their hometown. And it’s not over. A 2017 American University study estimates that the Obamas could make up to $ 242.5 million (205 million euros) during their lifetime after the White House.
Original article by : www.leparisien.fr