You are here: Home » International » News » Others
Business Standard

Barack, Michelle Obama sign bumper deal with Penguin to publish memoirs

Barack Obama is the author of two memoirs and a children's book already

Topics
Barack Obama

AFP/PTI  |  New York 

Joseph Sohm / Shutterstock.com
Barack Obama with Michelle Obama. Photo: Shutterstock.com

Barack and Michelle Obama have signed a deal to publish their memoirs with New York-based Penguin Random House in a coveted contract reportedly worth tens of millions of dollars.

America's first African American president is already the author of two memoirs and a children's book.

He has frequently declared himself to have a "writer's sensibility" and has said he does not want to write a conventional blow-by-blow account of his time in the White House.

Michelle Obama's memoir is likely to be just as eagerly anticipated.

A descendant of slaves, she became the first African-American first lady and garnered high approval ratings -- to the point where she was arguably one of the country's most respected and popular women.

Penguin Random House said in a statement it has "acquired world publication rights for two books, to be written by president and Mrs Obama respectively."

The terms of the deal were not disclosed, but bidding for the high-profile double book deal topped $60 million, a record sum for US presidential memoirs, according to the Financial Times.

Until now, the record for a US presidential memoir was $15 million paid for Bill Clinton's My Life, released in 2004. George W Bush received $10 million for Decision Points in 2010.

Hillary Clinton reportedly received a $14 million advance for Hard Choices, her account of her time as secretary of state under Obama.

The Obama deal was negotiated by Washington super-lawyer Robert Barnett, who represented both the Clintons and Bush.

As part of the agreement, the company will donate one million books in the Obama family's name to First Book, a charity, Penguin said.

"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," said Penguin Random House CEO Markus Dohle.

The Obamas took a long vacation after Donald Trump was sworn in as president on January 20, and the former president has stuck by a pledge to keep a low public profile unless events threatening what he called America's "core values" warranted that he speak out.

He did just that in January, just days after Trump enacted his ban on travelers from seven mostly Muslim countries, and on all refugees. Obama expressed support for protests that sprang up nationwide against the now-suspended Trump travel ban.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, March 01 2017. 17:00 IST
RECOMMENDED FOR YOU
.