Former President Barack and first lady Michelle Obama have book deals.
The couple have signed with Penguin Random House, the publisher announced Tuesday. Financial terms were not disclosed for the books, which several publishers had competed for, although the deals are likely in the tens of millions of dollars.
Both Obamas have published through Crown, a Penguin Random House imprint. But Penguin Random House declined comment on which imprint or imprints the books would be released through.
“We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,” Penguin Random House CEO Markus Dohle said in a statement.
“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. 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.”
The Obamas were represented in negotiations by Robert Barnett and Deneen Howell of Williams & Connolly. Barnett has worked on deals with Barack Obama’s two immediate predecessors, Bill Clinton and George W. Bush, and with Michelle Obama’s predecessors Hillary Rodham Clinton and Laura Bush.
The Obamas plans to donate a “significant portion” of their author proceeds to charity, including to the Obama Foundation. Barack Obama’s book is a strong contender to attract the largest advance for any ex-president; the previous record is believed to be $15 million for Bill Clinton’s “My Life.”
The unique dual arrangement announced Tuesday is for books that are among the most anticipated in memory from a former president and first lady. Barack Obama is widely regarded as one of the finest prose stylists among modern presidents.
Michelle Obama has given few details about her time as first lady: Her only book is about food and gardening, “American Grown,” released in 2012.
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