Tuesday, August 27, 2019
Obamas Strike Blow for Economic Justice, Donate Millions in Exchange for Massive Beachfront Estate
By Andrew Stiles
The Obamas are buying a Martha's Vineyard estate from Boston Celtics owner
The former president conquers 'wealth anxiety.'
Celebrity authors Barack and Michelle Obama are striking a blow for social, economic, and climate justice, vowing to donate an undisclosed eight-figure sum to Boston Celtics owner Wyc Grousbeck in exchange for his massive beachfront estate on Martha's Vineyard, the luxury island vacation spot popular with Northeastern elites, boat-shoed bon vivants, and other rich freaks who use "summer" as a verb and donate to Pete Buttigieg.
The 29-acre property, which includes a 7,000-square-foot main house with seven bedrooms, nine bathrooms, and two guest wings, is listed at $14.85 million—well within the Obamas' price range after signing a "high eight-figure" production deal with Netflix, in addition to a joint book deal reportedly worth $65 million. There's also an outdoor pool and fireplace, balcony jacuzzi, chef's kitchen, and a private boathouse.
The former president, who once scolded Wall Street executives by saying, "I do think at a certain point you've made enough money," is potentially suffering from wealth anxiety, which could explain why he has decided to give so much money to such a worthy cause.
The purchase has not yet been finalized, but barring any unforeseen setbacks, the Obamas will soon become the proud owners of their third mansion, in addition to properties in Chicago and Washington, D.C. "There's only so big a house you can have," Barack Obama said in 2018.
Obama once claimed his election marked "the moment when the rise of the oceans began to slow." The decision to buy a property so close to the water is perhaps a subtle vote of confidence in President Donald Trump's efforts to combat climate change.