Talk about an eye-popping number!
News broke yesterday that the Obamas had closed on their purchase of a nearly $12M estate in Martha’s Vineyard.
But buried in that story was a fact that leapt of the page for me….it was from Fox News and it said that they are now worth an estimated $135M!
Wow!
The details on that figure are farther below in this article.
First, here is more about their new purchase:
The Obamas are now the new owners of a quaint little $11.75 million, 7,000 square foot home in Martha’s Vineyard.
The house comes complete with seven bedrooms, eight and a half bathrooms and several stone fireplaces, as well as a two-car garage, a barn and a swimming pool.
This is not the only big splurge for the Obamas as they recently also purchased a nine-bedroom house in Washington, paying a reported $8.1 million.
Wonder if they paid cash for both?
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It wouldn’t be hard considering the Fox News reports:
Michelle Obama received a $65 million advance for her memoir, “Becoming,” while the pair also negotiated a $50 million deal with Netflix to develop programming.
In addition, the former first lady reportedly commands a speaking fee of $225,000. She and her husband are said to have a net worth of $135 million.
$65 million for a book?
Let’s say they sell those books for $20 each. The publisher would have to sell 3,250,000 books just to recoup their upfront payment to Obama, not to mention all their other costs of printing, distribution etc. before having any profit on the deal.
Does that make sense to anyone?
Anyway, I’m getting off topic.
Take a look at this:
From Fox News:
Former President Barack Obama and former first lady Michelle Obama have purchased a nearly 7,000-square-foot home on Martha’s Vineyard in Massachusetts for $11.75 million, according to a report.
The purchase price was recorded Wednesday with the local Registry of Deeds, the Vineyard Gazette reported.
The Obamas paid about half the original asking price for the property when it first became available in 2015, the report said.
The sellers were listed as Wycliffe Grousebeck, owner of the Boston Celtics basketball team, and his wife Corinne Basler Grousbeck.
The house is located in the Edgartown section on the eastern end of the island and sits on a property of more than 29 acres, the Gazette reported.
It includes seven bedrooms, eight and a half bathrooms and several stone fireplaces, as well as a two-car garage, a barn and a swimming pool.
The Obamas had rented the property during the summer, the report said. The couple reportedly had made an offer on the property in August.
Attorneys for the Grousebecks would not comment on the transaction.
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The Obamas previously purchased a nine-bedroom house in Washington, paying a reported $8.1 million.
The Obamas have entered some lucrative business deals since leaving the White House.
Michelle Obama received a $65 million advance for her memoir, "Becoming," while the pair also negotiated a $50 million deal with Netflix to develop programming.
In addition, the former first lady reportedly commands a speaking fee of $225,000. She and her husband are said to have a net worth of $135 million.
That's one way to look at it:
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