After some well-deserved time off, Barack and Michelle Obama are about to get down to business. Not only are the former POTUS and FLOTUS getting their foundation off the ground (and looking for interns), but news came today that both the Obamas are working on their memoirs.
Mashable reports that after what was surely a contentious auction, the Obamas signed with Penguin Random House. The storied publishing house announced the news today. "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," Markus Dohle, Penguin Random House CEO, told Mashable.
While details were not released to the public, the Financial Times reports that the deal could be over £48 million. Let that sink in. For comparison's sake, President George W. Bush got £8 million for his book. President Bill Clinton received £12 million. Assuming that Barack and Michelle split that £48 million, that doubles Clinton's paycheque. Mashable posits that the high price may come with the publisher's hope that Barack will voice the frustration of dealing with the Republican party's actions during his presidency and perhaps even President Trump questioning whether or not he was born in America.
Former President Obama is no stranger to the publishing world. In fact, he already has three bestselling books to his name. Dreams From My Father, released in 1995, is a memoir that focuses on family history. The Audacity of Hope, published in 2006, focused on politics. And lest you think that he left the kids out, in 2010, Obama released the childrens book Of Thee I Sing.
Michelle has penned a book, too: American Grown. It's a cookbook and explores the development and growth of the White House Kitchen Garden.
Penguin Random House didn't reveal a release date for either of the books.