Presently, over a month after Barack and Michelle Obama took up their parts as “common” citizen of America, the guarantee of Obama diaries will, without a doubt, be a splendid spot for some who have been passing on to hear again from them.
It has become almost a norm for former Presidents of the United States to release memoirs on the other side of the White House and Barack Obama is continuing in that tradition. Michelle Obama who became something of a celebrity over the course of her service as First Lady of the United States will also be releasing a memoir that will give the gist of her time there.
For that reason, the Obama memoirs were the subject of an intense bidding war between some of the biggest US book publishers. According to Financial Times (paywall), Penguin Random House, HarperCollins, and Simon & Schuster and Macmillan all placed bids to be the ones to publish the Obama memoirs.
Penguin Random House is elated to have acquired the Obama memoirs
On Wednesday, Penguin Random House announced that it has acquired two books by Barack and Michelle Obama. Markus Dohle, CEO of the winning publishing house, said in a release;
“We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,”
“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.”
The publisher is yet to disclose the financial terms of the deal or the book titles, or even the release dates but Financial Times reported that the auction had gone as high as $60 million, which is an impressive figure for two books.
Still, it is probably a good bet to make on the Obama memoirs considering Barack Obama’s first memoir, Dreams from my Father, spent 150 weeks on the New York Times bestsellers list.
According to the publisher’s release, the Obamas will donate a “significant” portion of their profits from the book to charity, including the Obama Foundation.