Barack and Michelle Obama have signed a deal to publish their memoirs with New York - based Penguin Random House, in a coveted contract reportedly worth tens of millions of dollars .
America ’ s first African American president is already the author of two memoirs and a children’ s book .
He has frequently declared himself to have a “writer ’ s sensibility ” and has said he does not want to write a conventional blow - by - blow account of his time in the White House.
Michelle Obama ’ s memoir is likely to be just as eagerly anticipated .
A descendant of slaves , she became the first African American first lady and garnered high approval ratings — to the point where she was arguably one of the country’ s most respected and popular women .
Penguin Random House said in a statement it has “ acquired world publication rights for two books , to be written by president and Mrs Obama respectively . ”
– Record sum –
The terms of the deal were not disclosed , but bidding for the high -profile double book deal topped $ 60 million , a record sum for US presidential memoirs , according to the Financial Times .
Until now, the record for a US presidential memoir was $ 15 million paid for Bill Clinton ’ s “ My Life, ” released in 2004 . George W . Bush received $ 10 million for “ Decision Points ” in 2010 .
Hillary Clinton reportedly received a $ 14 million advance for “ Hard Choices, ” her account of her time as secretary of state under Obama .
The Obama deal was negotiated by Washington super- lawyer Robert Barnett , who represented both the Clintons and Bush .
As part of the agreement, the company will donate one million books in the Obama family ’ s name to First Book , a charity , Penguin said .
“ 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 , ” said Penguin Random House CEO Markus Dohle .
The Obamas took a long vacation after Donald Trump was sworn in as president on January 20 , and the former president has stuck by a pledge to keep a low public profile unless events threatening what he called America ’ s “ core values ” warranted that he speak out .
He did just that in January , just days after Trump enacted his ban on travelers from seven mostly Muslim countries , and on all refugees . Obama expressed support for protests that sprang up nationwide against the now - suspended Trump travel ban .
Whereas US presidents tend to leave town after leaving the White House, the Obamas are settling into a rented mansion in Washington ’ s posh Kalorama district until their younger daughter Sasha finishes high school . Their eldest daughter Malia will be attending Harvard in the fall .
Another new neighbor in Kalorama is Trump’ s daughter Ivanka , who has rented a house along with her husband Jared Kushner and their three children, near the Obamas.
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