(Dan Tri) – Former US President Barack Obama and First Lady Michelle Obama have reached an agreement to write memoirs with publisher Penguin Random House with a contract value that could reach tens of millions of dollars.

Former President Barack Obama and First Lady Michelle Obama (Photo: Guardian)

`We are very pleased to continue to cooperate with President and First Lady Obama in publishing books,` The Hill quoted Penguin Random House CEO Markus Dohle as saying in the announcement.

“With their speeches and leadership, they changed the world.

Although the financial terms of this book publishing contract were not announced, the amount of money Penguin Random House had to spend when competing with other publishers to receive the former President’s approval

Currently, the title and content of the new book written by former President Obama and his wife Michelle have not been specifically revealed, only that the book will tell about the Obama family’s years in the White House, according to Penguin Random.

Mr. Obama is expected to donate a `significant` portion of the proceeds from writing the book to charity, including the Obama Foundation.

Previously, Mr. Obama wrote two memoirs, `Dreams from My Father: A Story of Race and Inheritance` and `The Audacity.`

Meanwhile, in 2012, First Lady Michelle also published her own book titled `American Grown: The Story of the White House Kitchen Garden and Gardens Across America` about her experiences.

Success

According to The Hill