Barack and Michelle Obama have both signed possibly record-breaking book deals with Penguin Random House that will focus on their years during the White House. That said, much of what the books entail has been left up to speculation, as negotiations are being kept confidential.
Is estimations prove to be true, the book deal could have earned four times as much as Bill Clinton’s
At this time, it is currently unknown how much the book deals sold for, but a report from the Financial Times claimed that the bidding reached more than $60 million, which would be a record-breaking sum for Presidential memoirs if true.
To place into context, Bill Clinton earned $15 million for the rights to his 2004 memoir, "My Life," and George W. Bush earned $10 million from his 2010 book, "Decision Points."
This is not the first time the Penguin Random House company had published works from Barrack or Michelle, and were represented in negotiations by Robert Barnett and Deneen Howell of Williams & Connolly. Barnett had notably worked with both former Presidents Bill Clinton and George W. Bush and First Ladies, Hillary Clinton and Laura Bush in the past.
What do we currently know about the upcoming books?
A portion of the author proceeds will go to the Obama Foundation. While titles and release dates have remained unconfirmed, and may currently be undecided, an official representative has offered a few details of what might be part of the upcoming books according to the negotiations.
Barrack's book will be a straightforward take on his perspective of his time as President. Michelle's upcoming book, on the other hand, will be an inspirational work aimed at young people, in addition to reflecting her own life story. Otherwise, Penguin Random House had declined to release further information about the upcoming publications.
A straightforward memoir had not been expected from the former First Lady, as her only book beforehand, the 2012 release, "American Grown," was a book about food and gardening. Previous books from Barrack include the 1995 release, "Dreams from My Father," the 2006 release, “The Audacity of Hope,” both of which notably predates his presidency, and the 2010 release, "Of Thee I Sing," which had been an illustrated children’s book, among others.
