Top Earning Millionaire Authors...

[MJ DeMarco]

Interesting list.

The Top-Earning Authors - Jeff Bercovici - Forbes

Not one non-fiction, business type author.

I wonder, did they include them? Or, do they simply not make that much $$?

Also, notice how most of the authors are FICTION writers.

Can we deduce that the market for fantasy escapes is far greater than the market for self-improvement?

 

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[snowbank]

I wonder, did they include them? Or, do they simply not make that much $$?

From what I know, I don't think they make near that much money.(thought maybe one or two could have squeezed into #10, but then I looked at who it was and seems like that's not including many $$ incentives from the deal, and I don't think any business guys can touch that list)

 

[evanwebb]

First slide says, "biggest names in fiction."

Also, don't most business authors primarily use their books more as a big business card, as laid out in "The Obvious Expert," than for income and then make their money other ways?

 

[Pinnacle]

I'm an author, too, and I think there is some validity to MJ's deduction.

It may not be across the board, but the self-improvement genre alone is over-saturated with choices. Unique fiction, on the other hand, is a special breed. I'm writing fiction right now and have stepped out of self-improvement, myself. I'll let you know how things go.

It seems so hard to break through as a non-fiction writer in many cases. Step-by-step books on niche subjects seem to do alright, but making a fortune in the non-fiction realm is an art, not necessarily a science. On the other hand, MJ, your background, credibility, writing style, consistent great reviews, and market positioning I'd say are a big part--but not the only part--of TMF's success.

 

[Pinnacle]

First slide says, "biggest names in fiction."

Also, don't most business authors primarily use their books more as a big business card, as laid out in "The Obvious Expert," than for income and then make their money other ways?

Such as seminars, courses, speaking engagements, etc...yes. It's highly improbable to become financially successful from non-fiction book sales alone. It takes multiple marketing approaches and revenue sources. It reminds me of many affiliate marketers (not to offend anyone). It takes participation in numerous affiliate programs to make a passive income you can write home about. Same with many RE investors, I've met. Again, no offense: it takes ownership of multiple properties for so many investors just to pull $10k/mo in cash flow.

 

[G-man422]

I'd be interested to see a list of the top paid non-fiction authors.

 

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[ChickenHawk]

I've followed this industry pretty closely over the past few years. From what I understand, fiction writers are more likely to hit home-runs, but also MUCH more likely to strike out -- meaning that fiction is harder to get published and harder to find an audience once your book IS published, and those on the top make a TON more than everyone else. In contrast, non-fiction authors don't see a lot of home runs, but have many more base hits.

Plus, if you look at the names on the Forbes list, the vast majority of them (1) have been around for years, building their fan bases when writing was more profitable due to supply and demand, and (2) have seen their books turned into big-name movies. Even aside from what Hollywood pays these authors, these represent HUGE boosts for their book sales.

I'm friends with several traditionally published fiction authors. Their advances have ranged from around $1,000 to $15,000, all counted against future sales. Statistically speaking, an author is unlikely to earn out his or her advance, which means this is all the money they get.

Fascinating list though!

 

[The-J]

Considering all of those are names that I recognize, despite not having read most of the authors on that list, I'd say that business gurus and the like are simply not earning that much, at least nowadays.

Orman, Ramsey, Kiyosaki... I haven't seen much of them for a while. Not since the crash.

 

[MakeItHappen]

I really do think so.
However Tony Robbins one of the more successful self-help authors made ~$30 million in 2007 reffering to wikipedia. He obv does a lot more stuff than writing books but atleast it shows that self-help authors can do quite well.

Can we deduce that the market for fantasy escapes is far greater than the market for self-improvement?

 

[Rawr]

Interesting list.

The Top-Earning Authors - Jeff Bercovici - Forbes

Not one non-fiction, business type author.

I wonder, did they include them? Or, do they simply not make that much $$?

Also, notice how most of the authors are FICTION writers.

Can we deduce that the market for fantasy escapes is far greater than the market for self-improvement?

Of course. Everyone dreams, few put effort to attain those dreams.

 

[theDarkness]

I would think some real popular nonfic types like Gladwell would break into this list, but maybe not.

I do think there's something to the idea that fiction writers can hit bigger home runs.

 

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[FastNAwesome]

Can we deduce that the market for fantasy escapes is far greater than the market for self-improvement?

I believe we can, it's entertainment, just like movies, music... much wider audience than for any "how-to".

Btw.as an author of TMF, maybe you could give us some insight how well can one do in self-improvement market?

But nice to see people read at all nowadays - whatever they read.

 

[MamaD]

Looks like this list was specific for fiction. If fiction authors can continually provide readers with a good ride, they will sell books over and over again.

Re: Non-Fiction

The #1 Best Seller in Self Help is The Power of Habit. Currently ranked #192 in the paid kindle store....somewhere around 300 - 550 books sold/day.

There's also Don Miguel Ruiz, Stephen Covey, Wayne W. Dyer, The Secret Gang, Jack Canfield .... All with best sellers and surely making at the very least a million selling books.

Self Help just isn't as sexy as vampires, werewolves, and billionaires

 

[Lgallion]

I really do think so.
However Tony Robbins one of the more successful self-help authors made ~$30 million in 2007 reffering to wikipedia. He obv does a lot more stuff than writing books but atleast it shows that self-help authors can do quite well.

I have studied this market for a long time and in the non-fiction world, books are great as an extended business card (mentioned above), lead generation tool, speaking engagement attractor or intro product to an upsell. As far as a making a living off of writing (without these additional tactics) you would have to be the rare sort of phenom like Seth Godin.

 

[PatrickP]

I really do think so.
However Tony Robbins one of the more successful self-help authors made ~$30 million in 2007 reffering to wikipedia. He obv does a lot more stuff than writing books but atleast it shows that self-help authors can do quite well.

I wonder how they have any idea how much money he makes?

I would think he makes considerably more than that though.

 

[clarkster009]

Is this in one year or lifetime? I would have thought Rowling would have made more. And Patterson is double the next highest paid.

 

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[maximross]

According to Wikipedia, "Who Moved My Cheese?" has sold over 26 million copied. Not bad for a fable.
Has anyone experimented with translating business or personal lessons into a fable type story and selling as an e-book?
The lack of titles in this space indicates either a complete lack of interest in business fables, or no one has thought of the idea or translating lessons into fables in the business context (apart from iFish and Cheese).
Would be interested to hear others thoughts.

 

[Thriftypreneur]

This list really, really surprises me.

JK Rowling with $5 million? Surely they aren't only counting book sales. How in the world did she only make 5m between her Harry Potter book series and the movie deal that went with it? The movies were a huge success. From a moment of research, the whole movie saga generated over 7 billion in gross sales. So, I'm really confused how her income is so low. Licensing and merchandising the Harry Potter brand alone should be well over 5m.

On the same token, I also thought Stephen King's earnings would be higher, considering how many of his books have been made into films.

 

[tormat]

This artical is form 2011, so some of those numbers are much higher for some of them now.

 

[Brian James]

Is this in one year or lifetime? I would have thought Rowling would have made more. And Patterson is double the next highest paid.

This list really, really surprises me.

JK Rowling with $5 million? Surely they aren't only counting book sales.

These are annual figures.