Saturday, September 12, 2009

Is James Patterson worth $150 million?



From Forbes Magazine:

When Hachette Book Group announced a landmark deal with author James Patterson on Tuesday, the numbers were stunning. It calls for him to churn out 17 books through 2012, 11 for adult readers and six for young adult readers. A source familiar with the terms estimates it to be worth at least $150 million to Patterson.

Patterson's not a writer. He's a fiction (and non-fiction) factory. In 2008 he authored or co-authored seven books and in his 33-year career as a published author he's written 57. He sells an average of 20 million books per year. An estimated 170 million copies of his novels are in print worldwide. Most important: During the last two years he's earned Hachette an estimated $500 million. According to Forbes estimates, Patterson took home $60 in the last year million for the effort.
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