Barack and Michelle Obama have inked a major book deal reportedly worth millions of dollars, topping the record amount held by Bill Clinton for his memoir, “My Life.”
The first couple will release two separate books with New York-based Penguin Random House, who released a statement regarding the major contract saying it has “acquired world publication rights for two books, to be written by President and Mrs. Obama respectively.”
According to reports, former President Obama, who has already published two memoirs and a children’s book, said he wants to go against the grain with his new book, as he doesn’t want it to be a traditional chronicle of his historical era as the first African-American President of the United States.
On the other hand, a spokesperson for the publishing company has not revealed if the book authored by the former First Lady Obama, who held an equally historic position in the Oval Office, will be a memoir, but both books are expected to exceed the expectation in regards to monetary value.
Amid an intensive bidding process for the first couple’s publishing rights, the figure topped $60 million, quadrupling the Clinton’s record of $15 million. As part of the contract, reports state that the company will donate one million books in Obama family’s name to the First Book charity. However, further details of the deal have not yet been revealed.
“We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,” the chief executive of the company said in a statement. “With their words and their leadership, they changed the world, and every day, with the books we publish and 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.”
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