Getting a post-presidency book deal is basically a rite of passage. George W. Bush’s memoir Decision Points made him $10 million, as did Bill Clinton’s memoir My Life. Hillary Clinton’s Living History memoir made a cool $8 million. However, the Obamas just sonned them all, signing a book deal that the Financial Times reported is worth over $60 million between the two of them.

Penguin Random House eventually won a “heated” bidding war that started in the $18 to $20 million range. It’s unclear what the subject of the books will be, but the Obamas have already pledged to donate a portion of their advances to charity. They also got the publisher to promise to donate one million books to First Book, a nonprofit organization that provides books to disadvantaged children. The book will also be donated to Open eBooks, a partner for a 2016 White House digital education initiative.

Barack Obama’s previous three books have sold over four million copies collectively. This one could do even more than that. Will you be buying when it comes out?

[via NYT]