Barack and Michelle Obama Reportedly Getting a Record-Setting $60 Million for Their Memoir

According to a report from the Financial Times, bidding for the rights to books written by Barack and Michelle Obama has skyrocketed to more than $60 million.

via Business Insider:

Penguin Random House, which has published three other books by Barack Obama, is leading the bidding war so far, according to the report published on Tuesday. Harper Collins, Simon & Schuster, and Macmillan are also competing.  The lofty price tag will shatter the record for presidential memoirs, the Financial Times reported.

The rights to books written by Bill Clinton and George W. Bush sold for $15 million and $10 million, respectively.  The Obamas are writing their books separately, but selling the rights jointly, according to the report.