@
MarthannBann888 asks
Just explain this one thing. Where did the money come from that obama used to buy his mansions? When he took the white house he was not a rich man.
The answer is capitalism. Barack & Michelle Obama got a $60 million advance for their two books, and the books earned both them and their publisher a boatload of money.
While the exact terms of the book deal have not been publicly revealed, multiple reports said Penguin Random House paid more than $60 million to acquire rights to one book each written by Michelle and Barack Obama. The former president has yet to release his book, which is widely expected to detail his own experiences as the 44th U.S. president.
https://www.foxbusiness.com/media/obama-memoir-becoming-released-as-part-of-60m-book-deal
Michelle's book has sold 17 million copies so far - more copies of
Becoming in the 1st week than Trump has sold of
Art of the Deal in 20 years!
$19 paperback, $32 hardcover, $650 deluxe edition signed.
That's a minimum of $340 million in sales for Michelle alone; probably closer to $450 million. The bookseller keeps 40%, the publisher keeps 45% to 50%; so you can see how smart the publisher was to bid $60 million for the pair of books (Barack's book sold 3.4 million copies the first year; not bad either).
So, $60 million for the book advance, plus at least 10% of $450 million in book sales, That adds up to $105 million; Barack's book sales earn another $10-15 million for a grand total of around $120 million. Take away 40% taxes - they are left with $72 million. yes they can buy a $11.75 million house with that and afford the upkeep.
Why did the publisher advance $60 million? Because they got to keep 45% or 50% of $450 million in sales. Pay $60 million to earn over $200 million a couple years later - smart business.
In short, @
MarthannBann888,
CAPITALISM earned Barack and Michelle eight figures - read it and weep!!
P.S. sales figures are from back in Feb; I couldn't be bothered to update to the current month.
