Barack & Michelle Obama Are Buying ‘Mega-Expensive’ Martha’s Vineyard
Barack and Michelle Obama are shopping for a vast Martha’s farm estate.
According to TMZ, the “mega-expensive” estate sits on the beach, has two guest wings, seven guest rooms, and 6,900 square feet. Although the property is listed at $14,850,000, sources told TMZ the Obamas were paying “less.”
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.
“It’s not a done deal just yet,” TMZ says. “We’re told there are contingencies so it’s possible it could fall apart, but we’re told so far it’s a go.”
Grousbeck initially put the palatial property on the market in 2015 for $22.5 million.
The Obamas previously purchased a nine-bedroom house Washington, D.C. That 2017 purchase cost them $8.1 million.
While the pair is currently in escrow, the deal could fall apart due to unspecified “contingencies,” according to the outlet. The news came as the former first family seemed poised to continue raking in millions from a variety of other opportunities.
There’s plenty more where that came from. 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.
But 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.)
While the former president has stayed relatively quiet amid attacks from President Trump, he’s occasionally spoken out on events like the mass shootings in both El Paso and Dayton.
Obama has notably refrained from wading into 2020 presidential politics and refused to endorse his former vice president, Joe Biden, for the Democratic Party’s nomination.