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Elizabeth Warren got $730,350 in book advance last year, for disclosure

Elizabeth Warren got $730,350 in book advance last year, for disclosure

Posted on May 13, 2022 by mangakiko

  • Senator Elizabeth Warren reported substantial progress on the book in her 2021 financial disclosure.
  • The Democrat received $730,350 from Macmillan Publishing, records show.
  • Macmillan Publishing oversaw “Persist” and “Pinkie Promises,” both Warren titles released in 2021.
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The literary money keeps coming for Sen. Elizabeth Warren.

The Massachusetts lawmaker got a $730,350 book advance last year, according to her 2021 financial disclosure. The big advance came from Macmillan Publishing Group LLC, records reviewed by Insider show.

Macmillan published Warren’s children’s book “Pinkie Promises” in October 2021, and also oversaw the publication of his book “Persist,” which came out in May 2021. The two titles had already earned him a $250,000 advance on 2020, according to Financial Disclosures

A spokesperson for the senator confirmed to Insider that the most recent trailer is a continuation of both books.

“Persist” was a No. 7 New York Times Bestseller when it debuted last year before dropping off the list the following week. The book details Warren’s experiences as a mother and teacher and recounts how her personal life helped inform her political views. “Pinkie Promises” was a picture book about a girl named Polly who is running for class president.

The Boston Globe reported Friday that Warren’s annual income last year rose from nearly $900,000 to $1.36 million thanks to the six-figure jump.

As Insider’s Kimberly Leonard reported in December, members of Congress often make big profits when they write their posts. In 2020 alone, 26 lawmakers in the House and Senate raised $1.8 million from book advances and royalties, Insider discovered as part of its Conflicted Congress project.

Some have even managed to make more money writing books than serving as elected officials, a job that already comes with an annual salary of $174,000. Members of Congress are generally not allowed to earn more than $29,595 in income outside of their federal salaries each year, but book advances and royalties are one of the few exemptions to the rule.

Warren, it seemed, was able to capitalize on the loophole in one important way: Her $730,350 retainer in 2021 was nearly double the next highest paycheck reviewed in the 2020 Insider investigation. Sen. Tammy Duckworth, D-Illinois, made $382,500 in advance payments for his book “Every Day is a Gift: A Memoir.”

Other high-earning authors among Congressional authors in 2020 included Sen. Ted Cruz, Senator. Tom Cotton, and Sen. Bernie Sander.

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