Prince Harry will receive at least $ 20 million in advance to publish his memoirs – with the same über-publisher giving Barack and Michelle Obama a $ 65 million book deal.
As six six revealed, Harry has been secretly writing a memoir for almost a year and has now sold it to Penguin Random House.
While the apostate Royal Monday said he will donate all proceeds to charity, it has yet to be made clear whether he will maintain the advance of several million – believed to be at least $ 20 million, according to publishing insiders.
Meanwhile, we’re told that Harry’s co-author, power ghostwriter JR Moehringer, gets at least $ 1 million in advance.
It was Penguin Random House CEO Markus Dohle who snatched up President Barack Obama and former First Lady Michelle Obama.
The German father of two monitored the record-breaking deal for their memoirs with Michelle’s book “Becoming” 2018’s best-selling book, which sold 725,000 copies on the first day of publication.
President Obama’s long 768-page memoir “A Promised Land” sold 800,000 copies on its first day in November last year. “But I’m not rubbing it in over dinner,” he told Jimmy Kimmel, adding that Michelle joked that all his book sales could help pay for her shoe purchases.
Dohle admitted in the Financial Times in March 2019: “There is always a certain risk when you make a big deal, and this was a very big deal,” he says. “But commercial risk is part of our business … The first book has worked fantastically well, and I have great confidence that the second book [President Obama’s memoirs] will also be a great success. ”
Markle also recently published his children’s book “The Bench” with the children’s section of Random House.
Speaking about the company’s deal with Harry, Dohle said: “We at Penguin Random House are all excited to publish Prince Harry’s literary memoir and get him to join the world – famous leaders, icons and creators we have had the privilege of. publish the years.
“Prince Harry has taken advantage of his extraordinary life experience as a prince, a soldier and a knowledgeable spokesman for social issues and has established himself as a global leader recognized for his courage and openness. That’s why we’re happy to publish his honest and touching story. ”
Harry and his wife Meghan Markle have been following in Obama’s footsteps since leaving the royal family and moving to California, as well as big money deals with both Netflix and Spotify.
But while insiders tell us that Harry and his wife Meghan Markle know Obama, they are not believed to be “close friends.”
It is not expected that Harry will finish his memoirs, which will be published in late 2022.
Reps for Random House and the Duke and Duchess of Sussex were unavailable for comment.