Former President Barack Obama and his wife Michelle just signed a deal with Penguin Random House after a heated bidding war. While the titles and terms of the deal have yet to be released, the deal is believed to be worth more than $60 million. It is believed the Barack Obama's book alone is in the $18 million to $20 million range. "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," Penguin Random House CEO Markus Dohle said in a statement. The Obamas plan to donate part of their advances from the book deal to charities, including the Obama Foundation.