Barack and Michelle Obama just signed dual book deals

Barack Obama kisses Michelle Obama while departing from the White House.

(Image credit: Mark Wilson/Getty Images)

Barack and Michelle Obama have signed contracts with Penguin Random House to write parallel memoirs about life in the White House, The Hollywood Reporter has learned. While the financial terms were not disclosed, the deals are expected to have easily broken Bill Clinton's $15 million record for a presidential memoir, with estimates placing the deals as high as $60 million. The Obamas plan to donate "a significant portion" of sales to charity.

While President Obama has already authored a memoir, Dreams From My Father, Michelle Obama's only book is American Grown, about food and gardening. Her memoir is especially anticipated as "Michelle Obama has given few details about her time as first lady," The Hollywood Reporter writes.

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Jeva Lange was the executive editor at TheWeek.com. She formerly served as The Week's deputy editor and culture critic. She is also a contributor to Screen Slate, and her writing has appeared in The New York Daily News, The Awl, Vice, and Gothamist, among other publications. Jeva lives in New York City. Follow her on Twitter.