Thursday - December 05, 2019

an even sweeter sweetheart deal

Obamas close on Martha’s Vineyard Estate for 50% off

Former President Barack Obama and former first lady Michelle Obama have purchased a nearly 7,000-square-foot home on Martha’s Vineyard in Massachusetts for $11.75 million, according to a report.

The purchase price was recorded Wednesday with the local Registry of Deeds, the Vineyard Gazette reported.

The Obamas paid about half the original asking price for the property when it first became available in 2015, the report said.

...

The Obamas previously purchased a nine-bedroom house in Washington, paying a reported $8.1 million.

The Obamas have entered some lucrative business deals since leaving the White House.

Michelle Obama received a $65 million advance for her memoir, “Becoming,” while the pair also negotiated a $50 million deal with Netflix to develop programming.

In addition, the former first lady reportedly commands a speaking fee of $225,000. She and her husband are said to have a net worth of $135 million.

She certainly has sold a lot of copies of her book. Total numbers are well over 11 million at this point. It’s hard to say if her book has “earned out” yet with the publisher since her slice of the pie is unknown. However, at $12 a copy for hardcover, and $24 for the eBook, she’d need at least a 30% cut of the gross for that to have happened by now. Typically an author gets 10%. OTOH, her book is still in the Top 50, and will probably spike again as we get deeper into the holiday season. 

Posted by Drew458     on 12/05/2019 at 08:40 AM   
Filed Under: • Miscellaneous •  
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