Obamas to make over $60 million from book deals

Barack Obama, Michelle Obama
President Barack Obama and first lady Michelle Obama walk over to greet people before boarding Air Force One at Air Station Cape Cod, in Mass., Sunday, Aug. 23, 2015. The president is returning to Washington after he and his family spent more than two weeks vacationing on the Massachusetts island of Martha's Vineyard. (AP Photo/Susan Walsh)

NEW YORK (AP) — Barack and Michelle Obama have book deals.

The former president and first lady have signed with Penguin Random House, the publisher announced Tuesday. Financial terms were not disclosed, although the deals are likely in the tens of millions of dollars and some outlets report they could take home around $60 million. Both Obamas have published books through Crown, a Penguin Random House imprint.

“We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama,” Penguin Random House CEO Markus Dohle said in a statement.

“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. 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.”

The unique duel arrangement is for books that are among the most anticipated in memory from a former president and first lady. Barack Obama is widely regarded as the one of the finest prose stylists among recent presidents, and his written the million-selling “Dreams from My Father” and “The Audacity of Hope.” Michelle Obama has given few details about her time as first lady: Her only book is about food and gardening, “American Grown,” released in 2012. Both Obamas are widely popular with the public in the U.S. and abroad.

The publisher did not immediately say which imprint the books would be released through. Titles, publishing dates and other details about the books also were not immediately available.

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