Barack and Michelle Obama made out like bandits in their “public service.” It is always striking when we see politicians enter government basically broke and within a few short years of leaving, or in Mitch McConnell’s case staying, they are worth multiple millions.
The Clinton’s and Mitch McConnell come most obviously to mind but the Obama’s are giving them a run for their money.
Now, the Obama’s denied this story earlier, no word from them now, but they are renting a massive estate in Martha’s Vineyard and reportedly put in an offer.
The estate is listed for just shy of $15 million. The estate is owned by Boston Celtics owner, Wyc Grousbeck, and has 29 secluded beachfront acres.
From The New York Post: Barack and Michelle Obama are close to buying a massive Martha’s Vineyard estate.
TMZ reports that the former president and first lady are in escrow — aka in contract to purchase — a 29-acre beachfront plot with a 6,892-square-foot main house. The Obamas were initially just renting the seven-bedroom, 8½-bathroom spread for summer 2019, but apparently loved it so much that they made an offer.
It was most recently on the market asking $14.85 million, but the Obamas are apparently paying less.
The property at 79 Turkeyland Cove Rd 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.
“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.”
The Obama’s earlier inked a massive deal with Netflix. From Politico: In a final scene of the Netflix documentary American Factory, the chairman of a Chinese auto glass company walks through the sprawling floor of one of the company’s factories in Dayton, Ohio, as an aide points to different departments where employees will soon be replaced by robotic arms and other machines.
“We’re hoping to cancel four workers in July or August,” the aide tells him, almost proudly, before adding, “They are too slow.”
Scenes like this are typical in the film, which depicts the fallout after Shanghai-based Fuyao Glass revives a former GM plant and hires many of its American former employees. The employees are at first excited to have new jobs, but soon find themselves struggling to swallow a fraction of their former pay, difficult working conditions and the prospect that, no longer protected by a union, they could be fired at any moment.
The documentary, which debuts on Netflix on August 21, never mentions President Donald Trump by name—but its message is clear:
Trump’s promise to reinvigorate the industrial heartland is going to take a lot more than a campaign slogan.
There are no easy solutions. And if some manufacturing jobs do come back, they’re going to look nothing like they used to.
Americans will have to accept a new reality to stay competitive in the global marketplace—one that they might not like, and one that Trump doesn’t acknowledge.
This message is also coming straight from Barack and Michelle Obama. American Factory is the first project to come from the Obamas’ production company, Higher Ground, as part of the deal they made with Netflix to produce a slate of series, movies and documentaries that reflect their values. Higher Ground acquired the movie after its debut at the Sundance Film Festival.