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World News: Barack and Michelle Obama sign record-breaking $60M book deal for rights to their new Me

  • Memoirs by Barack and Michelle Obama were purchased by Penguin Random House for a reported $60million

  • Barack released his memoir The Audacity of Hope in 2006 and the children's book Of Thee I Sing: A Letter to My Daughters in 2010 while in the White House

  • His first memoir, Dreams from My Father, was released in paperback in 2004, and the three books have earned him over $15million in the past 11 years

  • All post-tax proceeds from Of Thee I Sing has been donated to Fisher House Foundation since its release, an organization that supports families of veterans

  • A larger portion of the deal price is likely for what will be Michelle's first memoir, making her deal far and away the most ever paid for a literary debut in history

  • Bill Clinton previously earned $15million for his 2004 memoir My Life while Hillary Clinton got a reported $14million for the 2014 release Hard Choices

  • President Donald Trump got a $500,000 advance for his 1987 book The Art of the Deal, which he split with his ghostwrite

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