Obamas buy Martha’s Vineyard estate from Celtics owner for $11.75 million

Mandatory Credit: Rob Kinnan-USA TODAY Sports

It sure looks like former President Barack Obama and his wife, Michelle, are doing well years after the couple left the White House.

The Obamas are said to have purchased a Martha’s Vineyard estate from Boston Celtics owner Wyc Grousbeck for a cool $11.75 million, saving multiples of million from what the estate was originally listed for.

“The 29-acre Edgartown property on Turkeyland Cove Road was purchased by Turkeyland Cove Nominee Trust for $11.75 million, according to Dukes County Registry of Deeds records,” the MV Times noted. “The property had been on the market for $14.8 million, and was assessed at $15.1 million.”

The sprawling 7,000 square-foot house includes seven bedrooms and eight full bathrooms with multiple separate wings for guests the former first couple will welcome.

Without much net worth to speak of when he entered office in January of 2009, Obama is said to be worth a cool $70 million.

As for Grousbeck, this sale is just a drop in the bucket. He is said to be worth over $400 million.