Business & Lobbying

Warren nabs $525,000 book advance

Massachusetts Sen. Elizabeth Warren was paid more than a half-million dollar advance for her new book, according to financial disclosure forms.

The Democratic lawmaker and rock star of the left was paid $525,000 for the rights to A Fighting Chance, which she has been touring the country to promote for publisher Henry Holt and Co.

{mosads}The documents do not disclose the royalty rates for the book, saying only that the “advance and royalties [are] based on customary and usual terms.”

The payment adds to the wealth of the Democratic lawmaker, who has a personal fortune that totals at least $3.66 million, including two investment accounts each valued at more than $1 million each.

The release of the book has spurred fresh speculation that Warren could mount a run for the president in 2016 — speculation she’s swatting down by skipping swing states such as Iowa, South Carolina and New Hampshire on the promotional circuit.

Since beginning the book tour, Warren has been asked several times whether she is considering a run for the White House.

“I’m not running for president,” she told CBS correspondent Mark Strassmann in April. 

“So, there’s no way you’re going to run in 2016?” he pressed her.

“I’m not running for president. You can ask it lots of different ways,” she replied.

The disclosure forms also show Warren has earned more than $60,500 in royalties for seven textbooks she wrote or to which she contributed between 1985 and 2000.

Warren was a professor at Harvard University before entering politics.

The senator’s personal wealth is modest by the standards of the Senate, where many members amassed millions in business before entering politics.

Overall, Warren’s minimum net worth decreased by more than $200,000 in 2013, though she did finally pay off her final debt — valued last year at $15,000 to $50,000 — to Harvard University. She also took out the “education loan” in 1996 while working at Harvard Law School.

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