Fresh out of utero and little Tripp Johnston is already shaping up to be a nice little meal ticket for his teenage parents. Grandma Palin will be so proud!

According to MSNBC’s The Scoop, PEOPLE Magazine has purchased exclusive rights to the first public photos of Governor Sarah Palin’s grandson for approximately $300,000.

The respected celebrity weekly was the last mag standing after managing to successfully outbid In Touch Weekly for first dibs on the tot.

Rewarding children who have children with six-figure payday, what a great example this’ll set for the youth of America. (Insert eye-rolling here.)

Baby Tripp was born to the Alaska governor’s oldest (and unwed) daughter, Bristol, and the 18-year-old’s self-professed red-neck boyfriend, Levi Johnston, in Palmer, Alaska on Sunday night. As you may recall, Levi’s mom was busted as part of a drug conspirarcy in Alaska earlier this month.

“The bidding started well before the baby was born, but once Levi’s mom was arrested — well, then you had a story.”

Seriously guys, they named the poor kid “Tripp?” Isn’t it bad enough that “Bristol” sounds like a freaking candle scent?