Report: The Obamas are buying a $15M estate

The Obamas aren’t even trying to hide it anymore. Being in politics has made them elitists.

The former president who was once worried about getting his credit card declined is now reportedly about to purchase a multi-million dollar estate on the oceanfront at Martha’s Vineyard.

It Pays to be President

Just prior to running for President, Obama’s net worth was estimated to be around $1.3 million, but that was believed to mostly be due to book advances.

Just prior to Obama’s birthday this year, his net worth was reported at roughly $40 million. That is an increase of more than 30 times his net worth in less than three years after having left office.

Obama followed the same game plan as the Clintons did. When Bill Clinton left office, he was reportedly millions of dollars in debt.

Today, the Clintons are very conservatively estimated to be worth about $100 million together, a figure that continues to increase with every new book deal and speaking engagement.

Living the High Life

The Obamas have not been shy about spending their money, either. After all, their bank account seemingly has an endless stream of money with book deals and speaking engagements on the horizon.

After Obama left office, they bought a D.C. mansion worth almost $9 million.

Now, they apparently have a bid in for the summer home of Boston Celtic’s co-owner Wyc Grousbeck. The Obamas reportedly stayed at the Martha’s Vineyard property during the summer and decided to buy it.

While the property is currently valued just shy of $15 million, Obama is reportedly getting the property for about a million less. I guess that is the price of doing business with the darling of the Democrat party.

The mansion is located on 29 acres of beachfront property and is about 6,900 sq. ft.

It has about everything one could ever hope for, so the former president should be more than comfortable living out his retirement years there. In fact, the taxpayer check he gets every year for a little more than $200,000 should be plenty to cover the utilities for the year.

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