Barack & Michelle Obama Land Record Breaking $65 Million Book Deal

Former U.S. President and his wife, Barack & Michelle Obama have reportedly agreed to write two memoirs with publishers Penguin Random House for $65 million, after a bidding war that blew away similar deals.

“We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,” Penguin Random House chief executive Markus Dohle, said in a statement. He added:

“With their words and their leadership, they changed the world, and every day, with the books we publish at Penguin Random House, we strive to do the same.

Now, we are very much looking forward to working together with President and Mrs. Obama to make each of their books global publishing events of unprecedented scope and significance.”

The Obama’s, plan to donate a “significant portion” of their author proceeds to charity, including to the Obama Foundation. Barack Obama’s book is a strong contender to attract the largest advance for any ex-president, the previous record is believed to be $15m for Bill Clinton’s ‘My Life’. Even Barack’s predecessor George W Bush, reaped some $10m from his 2010 book ‘Decision Points’.

Penguin Random House also published Obama’s three previous books ‘Dreams of My Father,’ ‘The Audacity of Hope,’ ‘Of Thee I Sing: A Letter to My Daughters’.

The company did not reveal the subject matter of the two forthcoming books, or when they will be published however, they will presumably cover Obama’s time in the White House as the first African-American president of the United States of America.

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Barack and Michelle, have two beautiful daughters Malia and Sasha, Obama.

This family always seem to break new ground. Congratulations to them.

Photo Credit: AFP