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Barack Obama and Michelle Obama made headlines last holiday season following reports that they have purchased a new home in Martha’s Vineyard worth $11.75 million. Before critics raise their eyebrows, it should be noted that the Obamas have been busy with various ventures since leaving the White House.
The former first couple has chosen to become private citizens after Barack Obama completed two terms of presidency. However, they did not shy away from the public and have been active on several ventures, including book deals and a production agreement with Netflix, among others.
Barack Obama’s and Michelle Obama’s reported net worth
Obviously, $11.75 million is a huge sum of money and tends to be frowned upon when attached to the names of known public servants and politicians. But, as mentioned, the purchase of the home was made way after the Obamas have become private citizens again. Anyone who also has an idea on the reported net worth of the couple will not be surprised that they can afford the said house.
The Obamas remained busy after their life in the White House. Aside from the number of initiatives and a foundation they run, the former first couple has also been going speaking engagement tours and have explored several ventures. In early 2017, the Obamas made headlines for their reported joint book deal that experts believe amounted to as much as $65 million.
It is impossible to find information online on how the $65 million is divided between the couple. But there are speculations that $20 million from it might have been a payment for Barack Obama’s memoirs alone. Michelle Obama’s book “Becoming” has also been a massive success selling 10 million copies in just over four months since its release in November 2018. Meanwhile, the former president’s net worth was allegedly at $40 million in 2019.
Barack Obama, Michelle Obama purchase home in their favorite vacation destination
Vineyard Gazette reported in early December that the Obamas had bought a 6,892-square-foot home situated on a private, 29.3-acre land. The property purportedly features an amazing view of the beach and was previously owned by Boston Celtics owner Wycliffe Grousbeck.
Fans of Barack and Michelle Obama may easily recognize Martha’s Vineyard. The Massachusetts island has often been the former first couple’s choice of vacation destination even shortly before they completed their eight-year stay in the White House. The Obamas were also reported to have traveled to Martha’s Vineyard a few months before buying the said property.
