Barack and Michelle Obama are moving into one of the nation’s most exclusive and wealthy neighborhoods, having arranged to purchase a seven-bedroom property in Martha’s Vineyard for $14.85 million.
Pictures of the Massachusetts palace reveal it’s an estate most Americans could only ever dream of visiting, let alone owning. The property features a private beach with a boathouse, and is currently owned by Boston Celtics ‘governor‘ Wys Grousbeck.
The Obamas have resided in a comfortable position among the nation’s economic elite for years, but it’ll become increasingly difficult for the former President to be taken seriously on the topic of economic inequality after squandering almost $15 million on an elaborate mansion.
The Martha’s Vineyard palace will be the Obama’s second mansion, having secured a $8+ million house in Washington D.C’s ritzy Kalmorama neighborhood in 2017.
Obama made economic inequality a major theme in his 2008 and 2012 campaigns, rhetoric that appears hollow and empty, with the President having appeared to have made massive personal and financial gains as a result of his public service.
President Obama called income inequality the defining challenge of the era in 2013. Yet he accomplished little to combat declining economic prospects for many Americans, and some of his supporters on the progressive left have been left feeling swindled by a man who offered little more than ‘inspirational’ but ultimately empty rhetoric.
President Donald Trump is certainly more wealthy than Obama ever will be, but it’s worth noting that Trump’s net worth is derived from a company that has gainfully employed countless American contractors and employees. Unlike Obama, his presence among the wealthiest group of Americans is the product of a private sector business, as opposed to benefits indirectly obtained from a government job.
Obama’s path to the wealthiest segment of American society appears to have been primarily fueled by his expensively-funded Obama Foundation, that has drawn comparisons to the notoriously corrupt Clinton Foundation in recent years. The Obama Foundation raked in $232 million from private donors- who doubtlessly wanted access to the former President- in 2017.
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