Heritage

President Barack Obama and Michelle Obama Finalize Major Book Deals

The former president and former first lady have chosen Penguin Random House to publish their forthcoming books.
Comments

After a heated bidding war among top publishers, former president Barack Obama and former first lady Michelle Obama have secured a deal with Penguin Random House for their upcoming books, according to the New York Times.

Though little has been revealed about the books or the agreement, one thing goes without saying: Penguin Random House forked over a very large chunk of change. Literary agents and industry experts have speculated that initial offers for Mr. Obama's book were between $18 million and $20 million. (To put that in context, former president Bill Clinton's memoir went for $10 million, while Hillary received an $8 million advance for hers.)

Penguin Random House has not yet announced whether or not the books will be written as memoirs, or which specific imprint will oversee publishing.

The Obamas will donate a portion of their earnings from book sales to charity. Penguin Random House, for its part, announced plans to donate one million books to charitable organizations in the Obama family's name.

ADVERTISEMENT - CONTINUE READING BELOW

There's no doubt the books will be a hit with Barack already a bestselling author of 1995's Dreams From My Father and 2006's Audacity of Hope. He reportedly received $500,000 for Dreams and $425,000 for Hope.

This story originally appeared on Townandcountrymag.com.
* Minor edits have been made by the Townandcountry.ph editors.

Comments
About The Author
Lindsay Silberman
View Other Articles From Lindsay Silberman
Comments
Latest Stories
 
Share
Barangay Bel-Air will celebrate the 15th anniversary of the Salcedo Market on August 31.
 
Share
Experience wine harvested from the best set of cool-climate vineyards in Argentina.
 
Share
In A Royal Road to Wembley: Tackling Mental Health, he advocates for men's mental fitness through the lens of football.
 
Share
Casiraghi owns one of the few carbon-neutral racing boats in the world.
 
Share
The Amazon is currently burning at the highest recorded rate since 2013.
 
Share
Expect to see Will and Kate traveling to church with the British monarch this weekend.
 
Share
The TV personality and lifestyle guru was seen having a good time while touring the metro.
 
Share
The 157-acre empty lot was at one point the most expensive real estate listing in the world.
 
Share
Oh, and without sacrificing style.
 
Share
In a world where everything is industrially produced, it’s best to consider safe organic meat to ensure good health.
 
Share
Thatcher Wine, celebrity bibliophile, shares his tips on collecting (and decorating) with books.
Load More Articles
CONNECT WITH US