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THE OBAMA’S SET RECORD WITH OVER $60 MILLION MEMOIR DEAL

(Last Updated On: March 3, 2017)

BY OMOLOLA SODUNKE

 

Barack Obama, former US President, and  Michelle Obama are set to publish

their memoirs in two volumes, each volume to be written by both Barack and Michelle Obama

respectively.

The books are to be published by Penguin Random House-same company that published the former

presidents three previous books — “Dreams of My Father,” “The Audacity of Hope,” “Of Thee I Sing:

A Letter to My Daughters.”

Rights to the Obamas memoirs which is worth over $60million, beats rights predecessors – former

Republican president, George W. Bush’s book “Decision Points,” with rights of $10 million and

former President Bill Clinton 2004 memoir “My Life” with publishing rights of $15 million earned.

Penguin Random House landed the deal to publish the two forthcoming memoirs and global rights

to the two books, by beating other publishers, HarperCollins, a unit of News Corp, and Simon &

Schuster, owned by CBS Corp in a heated auction, the Financial Times said.

Though terms of the agreement, the subject matter of the two forthcoming books, or a time frame

for the publication are yet to be disclosed by Penguin Random House, they have said that the

Obamas plan to donate a “significant portion of their author proceeds to charity,” including the

Obama Foundation, the publisher said in a statement.

It is presumed by many that the memoirs will cover Obama and Michelle’s time in the White House

as first African-American U.S. president and first lady.

The books set a record sum for U.S. presidential memoirs, the Financial Times reported.