It’s Just Our Take On The Story, Take It For What It’s Worth. It’s Our Opinion| It has been reported by the New York Post that former President Barack Obama and former First Lady Michelle Obama are planning on purchasing a $15 million Martha’s Vineyard estate.
TMZ reported that the Obamas are currently in escrow on a “29-acre beachfront plot with a 6,892-square-foot main house.” The couple started off by renting the seven-bedroom, 8½-bathroom estate for the summer, but fell in love with the property and decided to put an offer in to buy it.
The estate was on the market most recently for $14.85 million, but according to reports, the Obamas will be paying less for the property.
The New York post reports:
The property at 79 Turkeyland Cove Road in Edgartown, Mass. — owned by Boston Celtics chief Wyc Grousbeck — has a living room with vaulted ceilings and a stone fireplace, a chef’s kitchen and a formal dining room with giant windows, according to the property’s Realtor.com listing.
The Obamas will bunk in the master suite, which has a fireplace and private sun deck.
Outside, there’s a pool with another fireplace — or the couple could swim on the private beach, which has a boathouse.
“It’s not a done deal just yet,” TMZ reported. “We’re told there are contingencies so it’s possible it could fall apart, but we’re told so far it’s a go.”
Barack and Michelle Obama Buying Mega-Mansion in Martha’s Vineyard https://t.co/TRoFK2eeV4
— TMZ (@TMZ) August 22, 2019
The property was first put on the market for $22.5 million in 2015.
The Obamas paid $8.1 million for a nine-bedroom house in the Washington, DC, neighborhood of Kalorama in 2017.
According to the New York Post, Obama has a lot more money to dish out. “As of 2018, Barack Obama’s net worth was about $40 million, from projects like speaking engagements and books as well as the six-figure pension granted to all past presidents, according to a GoBankingRates calculation,” the Post explains.
According to the Post, “given Michelle Obama’s bestselling hit ‘Becoming’ — and the lucrative book tour that accompanied it — it’s estimated the couple is actually worth more than $135 million. (Their production deal with Netflix to produce films, announced in May, is another boon to the coffers.)”
The Daily Caller reports:
The former president has criticized wealthy people for their big houses before. During a speech in South Africa last year, the president lamented the issue of income inequality, and blamed wealthy people for living excessively lavish lifestyles.
“There’s only so much you can eat. There’s only so big a house you can have,” Obama said at the time. “There’s only so many nice trips you can take. I mean, it’s enough.”