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Barrack and Michelle Obama sign $60 million book deal for rights to their new memoirs

Just before leaving the White House , Obama revealed that he will rest and then write after he leaves office. Now , only weeks after leaving, the former president and his wife , Michelle, who are working separately on their new books have gotten an unbelievable, unprecedented book deal worth $ 60 million. The right to their book was purchased by Penguin Random House in a joint publishing deal. Reports from The Financial Times reveal that bidding had surpassed $ 60 million, however, the Obama ’ s chose the Penguin because they had published Barrack ’ s previous three memoirs .
This $ 60 million deal signed by the Obamas is the biggest any author has ever been paid for a single book . It overshadows the $ 15 million Bill Clinton received for his memoir My Life, the $ 10 million deal George W . Bush got for Decision Points , the $ 14 million Hillary Clinton got for her book Hard Choices and the $ 500 , 000 Donald Trump received for his book The Art of the Deal.

It even surpasses the $ 15 million Barrack earned from all three of his previous books (Dreams from My Father released in 2004 , The Audacity of hope , released in 2006 and a children’ s book , Of Thee I Sing: A Letter to My Daughters , released in 2010).
A large portion of the book deal price is for Michelle ’ s memoir, especially because this will be the very first she will ever release, thereby making her deal the highest amount ever paid for a literary debut in history. It is believed that her book will be a huge success considering that many around the world are undoubtedly eager to hear about her life prior to and while in the White House .
As part of the deal, Penguin will donate $ 1 million to a charity in Obamas ’ name .
Speaking about the deal, the chief executive of Penguin Random House , Markus Dohle, revealed in a statement that he was thrilled to continue their partnership with Obama .
“ We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama . 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 .”
Dohle continued :
“ 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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