“A publishing official with knowledge of the negotiations told Associated Press that Barack Obama’s book will be a straightforward memoir about his presidency, while Michelle Obama plans to write an inspirational work for young people that will draw on her life story,” the Guardian reports.
Both the former president and first lady have previously published books through Crown, an imprint of Penguin Random House. Michelle’s only previous book was about food and gardening, and was released in 2012.
After leaving the White House. Democratic President Bill Clinton sold his memoir for $15 million, and Republican President George W. Bush sold his story for $10 million. Clinton was believed to have held the record for the largest advance for a former president’s memoir, until now.
The Obamas have stated that they will donate a “significant portion” of the revenue from their books to charity, which will likely include the Obama Foundation. The foundation’s website states that their mission is to “carry on the great, unfinished project of renewal and global progress.”