The bidding war for rights to two memoirs by Barack and Michelle Obama has reportedly reached a record sum of $60 million, according to the Financial Times. The former president and first lady are writing separate books but will jointly sell the global rights to their products.
According to the report, major publishers like Simon & Schuster, Macmillan, HarperCollins are in the running, with Penguin Random House leading the battle. A $60-million sum would far outpace other deals offered to former presidents—as FT noted, Bill Clinton was paid $15 million for his post-White House memoir, and George W. Bush received $10 million for his. Read more at the FINANCIAL TIMES.