President Obama to Release a New Book Geared Toward Youth

President Barack Obama revealed details about his personal life – and became a millionaire in the process – when he penned two books that went on to become New York Times best sellers. In 2009 alone, the president earned more than $1 million in book sales.

Now he plans to release another book, this one for young people, based on his hugely popular memoir 'Dreams from My Father.' The new book, to be published by Random House, will be geared toward middle-school children and teens. According to financial records recently released by the White House, the president secured a $500,000 advance for the yet-to-be-issued book, $225,000 of which was paid in 2009.


This book deal is a smart move by both President Obama's publisher and the first family. After all, several book series that proved enormously popular with adults – such as 'Chicken Soup for the Soul' and 'Who Moved My Cheese' – enjoyed even more commercial success when they were translated into multiple versions for teens and special editions geared toward kids. The new book also makes sense for Barack and Michelle Obama. They are the parents of two pre-teens, and the entire Obama clan (grandma included) has consistently projected a wholesome family image.

Here's hoping that President Obama's new book inspires another generation of young adults to strive for great heights.

And, hey, if the president earns another fortune in the process, it will be a lesson for us all about the benefits of royalties as a passive income stream.



Lynnette Khalfani-Cox, an award-winning financial news journalist and former Wall Street Journal reporter for CNBC, has been featured in the Washington Post, USA Today, and the New York Times, as well as magazines ranging from Essence and Redbook to Black Enterprise and Smart Money. Check out her New York Times best seller 'Zero Debt: The Ultimate Guide to Financial Freedom.'

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