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Life after presidency is good for Barack and Michelle Obama.
Days after returning from vacation, the two are running straight to the bank with their latest deal. According to The New York Times the two have signed a huge book deal with Penguin Random House.
According to the report:
Speculation about the Obamas’ books and how much they would sell for have been circulating in the industry in recent weeks, as executives at the top publishing houses met separately with the former president and first lady. Some publishing executives who followed the bidding process said that the opening offers for Mr. Obama’s book alone were in the $18 million to $20 million range.
Another report says that it had passed the $60 million mark, a record for an ex-president. As part of the deal, the publisher also agreed to donate one million copies to a nonprofit organization called First Book that supplies books to disadvantaged children as well as Open eBooks which is a nonprofit focuses on literacy.
This of course won’t be their first books published. Barack released two successful pieces in Dreams From My Father and The Audacity of Hope while Michelle released American Grown in 2012.