Former US President Barack Obama and his wife Michelle have agreed to sign a new book deal with Penguin Random House, it has been announced. Although financial terms are yet to be disclosed, the deal is believed to be worth over £48m, the BBC have reported. "The company has acquired world publication rights for two books, to be written by President and Mrs Obama respectively," the publisher said.
Fellow Democrat and former president Bill Clinton raked in £12m with his 2004 memoir My Life after he left the White House. Barack's predecessor and republican George W Bush earned £8m from his book Decision Points in 2010. Barack, 55, has already penned Dreams from My Father and The Audacity of Hope, while his wife has written American Grown. "With their words and their leadership, they changed the world, and every day, with the books we publish at Penguin Random House, we strive to do the same," Penguin Random House CEO Markus Dohle said in a statement. "Now, 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."
Barack and Michelle Obama have signed a huge new book deal
The former US President and First Lady are currently enjoying some time away from the spotlight. Following Donald Trump's inauguration in January, the couple holidayed on Richard Branson's Necker Island in the British Virgin Islands. Shortly after the eight-year term in office, Barack and Michelle released a video saying, "We’re finally going to get some sleep and take time to be with our family, and just be still for a little bit."
A few days ago, Barack appeared to be in great spirits when he was spotted out and about with his 18-year-old daughter, Malia. The pair was seen getting dinner together and attending the new revival of Arthur Miller's classic play The Price, which stars Danny DeVito and Mark Ruffalo. They went backstage to meet the cast of the play and moments later the Roundabout Theatre Company, which produces the production, tweeted a photo of the pair with the cast. They wrote in the caption: "We are so honoured to have had President @barackobama in our theater this evening for #ThePriceBway!"