Barack and Michelle Obama have signed book deals that may be worth up to $60 million, a report says.
On Tuesday, Penguin Random House announced that they had come to a deal with the Obamas, but specific financial terms were not disclosed. A report by the Financial Times, however, indicated that the bidding reached over $60 million. As a point of reference, former president Bill Clinton's memoirs earned him $15 million, and George W. Bush's 2010 book was signed for $10 million. The book deal is a dual arrangement that involves a book from Barack and a book from Michelle.
The Obamas plan on donating a "significant portion" of their earnings to charity.
Source: theguardian.com
