Obamas Agree to $60M Penguin Random House Deal

Two memoirs by Barack and Michelle Obama have been nabbed by Penguin Random House for a reported record sum of at least $60 million. “The company has acquired world publication rights for two books, to be written by President and Mrs. Obama, respectively,” the publisher said. CEO Markus Dohle added, “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.” The former president and first lady are writing separate books but are jointly selling the global rights to their products. Major publishers like Simon & Schuster, Macmillan, and HarperCollins were in the running. Historically, a $60 million sum far outpaces all other deals offered to former presidents. Bill Clinton was paid $15 million for his post-White House memoir, and George W. Bush received $10 million for his.