Politics

Barack Obama Slammed For $8.1M Purchase

| by Sheena Vasani

Former President Barack Obama purchased a home in Washington, D.C., for $8.1 million, causing many to raise their eyebrows.

In May 2016, the Obamas opted to initially lease the nine-bedroom mansion in Washington's Kalorama neighborhood while their daughter, Sasha, finishes high school, reports The New York Times.

But it appears they've since changed their minds.

"Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent property," explained Kevin Lewis, the Obamas' spokesman.

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The Obamas will also reportedly keep their home in the Kenwood neighborhood on Chicago’s South Side.

The price of the home was a talking point for many. Architectural Digest reports it is the second largest purchase in the neighborhood, even more expensive than the house bought by first daughter Ivanka Trump and her husband, Jared Kushner.

Amazon founder and Washington Post owner Jeff Bezos bought the area's most expensive home for $23 million.

The Obamas' new 8,200-square-foot home has nine bedrooms and eight and one-half bathrooms.

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Some were upset and wonder where Obama got the money. The former president earned $400,000 a year in office, and now receives $205,700 annually as his pension, Time magazine reports. Former presidents also receive federal funds for security, staff and office space. Former President George W. Bush was reportedly allocated $1.1 million annually.

"Here’s a good question: Where did Obama get that $8.1 million to buy that D.C. house if he had only a $400 thousand salary in office?" tweeted one person.

"[How did] a Community/neighborhood organizer who gets elected to the Senate have the income to buy a house at 8.1 million," added another on Facebook.

Others just thought the news reflected Obama's, and the left's, hypocrisy.

"Funny how Obama can buy an 8.1 million dollar house and the Democrats and Sanders say nothing," added a Facebook user. "But if a Republican business owner tries to make a successful venture they get hammered and are the worst thing since the plague."

While these may be valid points, the former president has also made some lucrative book deals for his upcoming works. The book deals he and Michelle made after he left office could net up to $45 million. Obama already has an estimated net worth of  $40 million, reports the Inquistr. Given the current net worth and projected future income, the house in Washington may be within their budget.

Sources: The New York Times, Architectural Digest, Time, Inquistr, Kevin Dillon/Facebook, Kevin Smith/Facebook, Sean C./Twitter / Photo credit: Gage Skidmore/Wikimedia Commons

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