Obama is set to cash in on presidency with a reported $20MILLION advance for his memoirs 

  • Obama's memoir would 'go for more than any president's memoir has ever gone'
  • Obama, 55, went into the White House as a bestselling author for his book Dreams of My Father, which was published in 1995 
  • The only other presidents to enter office as bestselling authors are Dwight D Eisenhower and Donald Trump
  • After leaving office, George W Bush got $7million for 2010's Decision Points 
  • When Bill Clinton left office, he received $15million for his 2001 memoir, My Life
  • Historians believe Obama's book will sell more copies than any other president 

By Kelly Mclaughlin For Mailonline

Published: 04:06 EST, 27 January 2017 | Updated: 04:35 EST, 27 January 2017

Former President Barack Obama could rake in more than $20million in advance for a memoir.

Esther Newberg, co-head of ICM Partners' publishing unit, claims that an Obama memoir would 'go for more than any president's memoir has ever gone'.

Obama, 55, went into the White House as a bestselling author for his book Dreams of My Father, which was published in 1995.

The only other presidents to enter office as bestselling authors are Dwight D Eisenhower, for his 1948 book, Crusade Of Europe, and Donald Trump for his 1987 book, The Art of The Deal, which was co-authored by Tony Schwartz.

Former President Barack Obama, pictured after Donald Trump's inauguration on January 20, could rake in more than $20million in advance for a memoir deal

'There's no doubt Obama's memoir will go for more than any president's has ever gone,' Newberg told the Hollywood Reporter.

After leaving office, George W Bush got $7million for 2010's Decision Points and Bill Clinton received $15million for his 2001 memoir, My Life.

Bush and Clinton sold 2.6million and 2.2million copies of their books, respectively.

Princeton University presidential historian Julian Zelizer told the Hollywood Reporter that he thinks sales will top both.

'There is broader fascination with Obama, from conservatives who really hate him as well as liberals who deeply admire what he did,' he said.

President Donald Trump is one of two other presidents who came into office as a bestselling author. His book The Art of the Deal, published in 1987, spent 13 weeks at the top of the New York Times Bestsellers list

Obama already has three books under his belt: his 1995 memoir Dreams of My Father; Audacity of Hope: Thoughts on Reclaiming the American Dream, published in 2006 when he was a senator; and the children's' book, Of Thee I Sing: Letters to My Daughters, which was published in 2010.

Dwight D Eisenhower was also a bestselling author when he entered office, for his 1948 book, Crusade Of Europe

Dreams of My Father and Audacity of Hope, both published by Random House, sold a combined total of five million copies.

Obama recently told senior adviser-turned-CNN commentator David Axelrod that writing a book is a top priority and that he had hired former White House director of speechwriting, Cody Keenan, to help.

There's also speculation that Michelle Obama could get her own book deal that would rival her husband's. Hillary Clinton saw $8million for her 2008 memoir.

Raphael Sagalyn of the ICM/Sagalyn Literary Agency told the New York Times last September that Obama could earn as much as $30million for a two-to-three post-presidency book contract.

'His is going to be easily the most valuable presidential memoir ever,' he said. ' And I think Michelle Obama has the opportunity to sell the most valuable first lady memoir in history.'

Presidents throughout the years have written a number of books, from their own memoirs to books about historical events.

Publishers also suggest that Michelle Obama could score a lucrative book deal for a memoir

Theodore Roosevelt, who was in office from 1901 to 1909, authored nearly 40 books between 1882 and the year of his death, 1919.

Besides Obama, Roosevelt, Eisenhower and Trump, the only other president to write a book before entering the presidency was George HW Bush.

He wrote the book Looking Forward in 1987, while he was serving as vice president.

Other presidents who have written books include Jimmy Carter, Richard Nixon, Ronald Reagan and Thomas Jefferson.

Personal Memoirs of Ulysses S Grant is highly regarded as the best post-presidency memoir in history.

Trump is credited as an author on 18 books written between 1987 and 2015, the most recent being Crippled America: How to Make America Great Again. 

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