Former President Barack Obama has been a politician for most of his life — and it’s where he got rich.
But an old Harry Truman quote, that’s widely viewed as “true” by both sides of the political spectrum, has come back to haunt the 44th president:
“You can’t get rich in politics if you’re not a crook.”
With that said, on Wednesday, the Obama family finalized their purchase of a whopping $8.1 million home in the Washington D.C. suburb.
And they paid in full and in cash.
The Washington Post reported the sale between a holding company controlled by the Obamas and former White House press secretary Joe Lockhart was finalized Wednesday.
The 8,200-square-foot home sold for $8.1 million, far more than the $5.295 million Lockhart and his wife Giovanna Gray paid for it in 2011.
The Obamas plan to stay in the nation’s capital for at least the next few years while their youngest daughter Sasha finishes high school at nearby Sidwell Friends.
“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,” Obama spokesman Kevin Lewis told the Post.
The home is in Washington’s Kalorama neighborhood, home to several embassies and D.C. power players. Among the Obamas’ neighbors are Ivanka Trump and Jared Kushner, who work in President Donald Trump’s White House.
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