Barack and Michelle Obama have book deals topping over $65 million for new tomes from each of them.
President Barack Obama kisses first lady Michelle Obama as they wait for President-elect Donald Trump and his wife Melania Trump at the White House, Friday, Jan. 20, 2017, in Washington.
(The Associated Press)
It sure does pay to be the president.
Former President Barack Obama has inked a $65 million deal for his memoir, a joint agreement that also will include a book written by former first lady Michelle Obama.
It is the highest amount ever paid for a presidential memoir.
The deal, announced Tuesday by publisher Penguin Random House, will pay for the global rights to two books to be written separately by the former president and his wife, according to the Financial Times .
Knopf, a division of Penguin Random House, paid $15 million for the rights to Bill Clinton’s 2004 memoir “My Life” when he left the White House, while George W. Bush made an estimated $10 million for his book “Decision Points,” which was published by Crown in 2010 — a Penguin Random House imprint that has previously published books by both Obamas.
