Massachusetts US Senator Elizabeth Warren gained more than populist fame for taking on Wall Street and big banks. She also earned a small fortune.
Warren’s publisher, Henry Holt & Co., paid her a whopping $1.6 million advance for her 2014 book, “A Fighting Chance,” according to financial disclosure forms Warren recently filed. That’s far higher than the $525,000 Warren reported for the advance in last year’s personal disclosure forms.
For some context, the median household income in Massachusetts is $67,000 a year, according to the US Census. Nationally, it’s $53,000 a year.
Lacey Rose, a spokeswoman for Warren, explained that the senator reported the first portion of her advance — $525,000 — in papers that covered 2013. The second portion, reported in the most recent forms, was for $1.15 million. Rose referred further questions about the advance to Washington lawyer Bob Barnett, who didn’t respond to an email.
The autobiographical volume recounts half a dozen battles that Warren has waged on behalf of middle-class and lower-class Americans. The book was published around the same time that former secretary of state Hillary Clinton released her memoir and stoked speculation that Warren was considering a presidential bid. She has repeatedly said she won’t run in 2016.
Warren’s publisher also paid for seven trips across the country to promote the book, according to the forms. The book made the New York Times’ best sellers list when it debuted — and remains at No. 75 on Amazon’s list of political books.