By Meghan Overdeep
Mar 01, 2017 @ 9:45 am

Michelle and Barack Obama are each coming out with a new memoir!

The former First Lady and president secured deals with Penguin Random House, the publisher announced on Tuesday, for two separate tomes that will reflect on their family's White House years.

Both Obamas have previously published books through Crown, an imprint of Penguin Random House, although it remains to be seen which of the house's imprints will release the forthcoming books. And reportedly, the deal is worth approximately $60 million. 

"We are absolutely thrilled to continue our publishing partnership with President and Mrs. Obama," Markus Dohle, the chief executive of Penguin Random House, said in a statement. "With their words and their leadership, they changed the world, and every day, with the books we publish at Penguin Random House, we strive to do the same. Now, we are very much looking forward to working together with President and Mrs. Obama to make each of their books global publishing events of unprecedented scope and significance."

According to The New York Times, Barack's three existing books—Dreams from My Father, The Audacity of Hope, and Of Thee I Sing—have sold more than four million copies and have reportedly earned him more than $10 million.

The New York Times reports that the publisher plans to donate one million books in the Obama family's name to First Book, a nonprofit organization that provides books to disadvantaged children, and Open eBooks. The Obamas also plan to donate part of their advances to charity, including the Obama Foundation.