About 60 million dollars is what Barack and Michelle Obama will be getting for their two upcoming books.
Since leaving the White House, the former first couple has been the subject of a betting war between some of the biggest publishers in America and the world.
While many prestigious companies came knocking, Penguin Random House was able to convince Mr. and Mrs. Obama to sign a book deal that is worth over $60 million.
Additionally, Penguin will donate one million books on behalf of the Obamas to various charities.
It is relatively easy to understand why the Democrats selected this company; Penguin published Barack’s three previous titles – “The Audacity of Hope: Thoughts on Reclaiming the American Dream,” “Dreams from My Father: A Story of Race and Inheritance,” and “Barack Obama in His Own Words.”
Barack and Michelle Obama’s memoirs have no release dates as yet, but many predict that they will be out later this year for two reasons.
The first one, the publishing company will want to release the books while the Obamas are highly popular.
The second reason is the fact that Mr. Obama is a prolific writer.
During his eight years in office, Obama would spend about 3 to 4 hours writing every night.
The chief executive of Penguin Random House, Markus Dohle, confirmed the news in a statement that read: “We are 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 then added: “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.”
Many are eager to read the first African-American president’s thoughts on Donald Trump’s presidency.
Others look forward to finding out what are Michelle Obama’s feelings on Hillary Clinton and her failed candidacy.