Prince Harry to get $20 million to publish his memoir via Penguin Random House.
According to an outlet, the Duke of Sussex has made a deal with the same publishers, who gave Barack and Michelle Obama a $65 million book deal. A source revealed on Monday that Harry will donate all the earnings from the memoir to charity. However, it is not clear if the multi-million amount is also included in that charity.
Harry’s co-writer, power ghostwriter J.R. Moehringer is all set to nab $1 million in advance.
Penguin Random House CEO Markus Dohle had previously sold Michelle’s book “Becoming” 2018’s fastest-selling book, selling 725,000 copies on the first day of publication.
On the other hand, former President Obama’s lengthy 768-page memoir “A Promised Land” sold 800,000 copies on its first day last November.
“There is always some risk when you do a big deal and this was a very big deal,” Dohle admitted to the Financial Times in March 2019. “But the 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.”
Regarding Harry’s deal, Dohle said, All of us at Penguin Random House are thrilled to publish Prince Harry’s literary memoir and have him join the world-renowned leaders, icons, and change-makers we have been privileged to publish over the years.”
“Prince Harry has harnessed his extraordinary life experience as a prince, a soldier, and a knowledgeable advocate for social issues, establishing himself as a global leader recognized for his courage and openness. It is for that reason we’re excited to publish his honest and moving story.”
Harry and his wife Meghan Markle seem to be following Obamas’ footsteps after they stepped down from their royal family duties. They have moved to California and also made huge deals with Netflix and Spotify.
For more updates, keep watching this space.