- Late. Elizabeth Warren reported a substantial book advance 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.
The literary money keeps rolling in for Sen. Elizabeth Warren.
The Massachusetts lawmaker landed a $ 730,350 book advance last year, according to her 2021 financial disclosure. The hefty advance came from Macmillan Publishing Group LLC, records reviewed by Insider show.
Macmillan published Warren’s children’s book “Pinkie Promises” in October of 2021, and also oversaw the publication of her book “Persist,” which came out in May 2021. The two titles had already earned her a $ 250,000 advance in 2020, according to financial disclosures .
A spokesperson for the senator confirmed to Insider that the most recent advance is a continuation for both books.
“Persist” was the No. 7 New York Times bestseller when it debuted last year before dropping off the list the following week. The book detailed Warren’s experiences as a mother and teacher and chronicles how her personal life helped inform her political positions. “Pinkie Promises” was a picture book about a girl named Polly who runs for class president.
The Boston Globe on Friday reported that Warren’s annual income last year jumped from nearly $ 900,000 to $ 1.36 million thanks to the six-figure advance.
As Insider’s Kimberly Leonard reported in December, members of Congress often reap big paydays when penning their publications. In 2020 alone, 26 lawmakers in the House and Senate raked in $ 1.8 million from book advances and royalties, Insider uncovered as part of its Conflicted Congress project.
Some even managed to make more money writing books than serving as elected officials – a job that already comes with a $ 174,000 annual salary. Members of Congress are not typically allowed to earn more than $ 29,595 in income outside of their federal salaries each year, but book advances and royalties are one of a few exemptions to the rule.
Warren, it seems, was able to capitalize on the legal loophole in a major way: Her $ 730,350 advance in 2021 was nearly double the next highest payout reviewed in Insider’s 2020 investigation. Late. Tammy Duckworth, an Illinois Democrat, earned $ 382,500 in advance payouts for her book “Every Day is a Gift: A Memoir.”
Other high earners among Congressional authors in 2020 included Sen. Ted Cruz, Sen. Tom Cotton, and Sen. Bernie Sanders.