1 March 2017
The Obamas just can’t stop breaking records. First Barack Obama he became America’s first black president, now himself and his wife are about to pen their memoirs for a U.S. presidential memoir record.
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.
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.