- Senator Elizabeth Warren reported a significant book advance in her 2021 economic revelation.
- The Democrat received $ 730,350 from Macmillan Publishing, records show.
- Macmillan Publishing oversaw “Persist” and “Pinkie Promises,” both Warren titles released in 2021.
The literary money keeps rolling in to Senator Elizabeth Warren.
The Massachusetts legislature landed a book advance of $ 730,350 last year, according to her financial revelation for 2021. The big advance came from Macmillan Publishing Group LLC, according to records reviewed by Insider.
Macmillan published Warren’s children’s book “Pinkie Promises” in October 2021 and also oversaw the release of her book “Persist”, which was published in May 2021. The two titles had already given her an advance of $ 250,000 by 2020, according to financial information. .
A spokesman for the senator confirmed to Insider that the latest progress is a continuation of both books.
“Persist” was the New York Times’ No. 7 bestseller when it debuted last year before falling off the list the following week. The book described Warren’s experiences as a mother and teacher and tells of how her personal life helped inform her political views. “Pinkie Promises” was a picture book about a girl named Polly running for the 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-digit advance.
As Insiders Kimberly Leonard reported in December, members of Congress often reap big rewards when writing their publications. In 2020 alone, 26 lawmakers in the House and Senate cashed in $ 1.8 million from book advances and royalties that Insider revealed as part of their Conflicted Congress project.
Some 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 typically 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 exceptions to the rule.
It looks like Warren was able to take advantage of the legal loophole in a big way: Her $ 730,350 advance in 2021 was almost double the second-highest payout reviewed in the Insiders 2020 survey. Late. Tammy Duckworth, an Illinois Democrat, earned $ 382,500 in advance payments for her book “Every Day is a Gift: A Memoir.”
Other high-paid congressional writers in 2020 included Senator Ted Cruz, Senator Tom Cotton and Senator Bernie Sanders.