Biden Sells Memoir Rights for $10 Million, Less Than Obama and Clinton

Schedule Undecided...
"Depends on Health Condition"

Former U.S. President Joe Biden sold the rights to his memoir to Hachette Book Group for an advance of about $10 million, according to a report by the Wall Street Journal (WSJ) on July 23 (local time).

Earlier this month, at a public event, former President Biden stated that he is working hard on writing his memoir and that he will focus on the four years he spent as president.

Former U.S. President Joe Biden. Photo by AP Yonhap News

According to the publisher, a publication date has not yet been set. The WSJ reported that the completion of the manuscript and the book's promotional schedule will likely be determined based on former President Biden's health condition. In May, Biden's team announced that he had been diagnosed with prostate cancer.

For this memoir, worldwide rights were also sold to Hachette through Creative Artists Agency (CAA). CAA also represented Biden's 2017 memoir, "Promise Me, Dad: A Year of Hope, Hardship and Purpose," which tells the personal story of his eldest son Beau, who died of brain cancer in 2015.

According to the WSJ, it is common for U.S. presidents and their spouses to write memoirs after leaving the White House. These books can be a major source of income and help public figures define their achievements and legacy.

The rights to books by former President Barack Obama and former First Lady Michelle Obama were reportedly acquired by Penguin Random House in 2017 for $60 million. Alfred A. Knopf, a Bertelsmann-owned publisher like Penguin Random House, paid $15 million for former President Bill Clinton's 2004 memoir "My Life." Former President Trump did not publish a memoir after his first term ended.