Massive Deal for Buffett Book

And it has nothing to do with Margaritaville… Reports were flying from numerous outlets yesterday that Bantam Dell has won the rights to a biography of not Jimmy, but Warren Buffet. The famous investor has previously been reticent in regards to biography efforts but now former Morgan Stanley insurance analyst Alice Schroeder has been given unprecedented access to Buffet’s files, friends, and associates. Her book, being described as a “biography of Warren’s ideas” will focus on the lessons we can learn from Buffett in both the financial arena and otherwise.

The price tag? A reported $7 million for just the North American rights alone. Agent David Black brokered the deal and Senior Editor Ann Harris will edit the project while Bantam publisher Irwyn Applebaum is also personally involved.

That’s a huge sum of money. But probably only a day’s worth of work for Buffett. Forbes estimates him to be the second richest person in the world, behind Bill Gates. At the close of trading on Thursday, one single share of Buffett’s company, Berkshire Hathaway, was trading at $84,500.