Now that he’s entering the lucrative post-presidency portion of his career, he’s set to become an incredibly wealthy man. Both he and the former First Lady have reached a book deal worth tens of millions.
Barack and Michelle Obama reach book deal
Publisher Penguin Random House announced Tuesday it will publish books by former President Barack Obama and former first lady Michelle Obama.
The company has acquired worldwide publishing rights for two books, one from each of the Obamas. Terms of the agreement were not released, but the Financial Times reported on Tuesday that the auction for the rights to the books reached more than $60 million, citing people with knowledge of the sales process.
“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.
The New York Post offers some perspective on the size of the deal:Read more at LegalInsurrection