As the nation prepares for Thanksgiving, President Joe Biden and his family are preparing to land at their longtime vacation spot: the island of Nantucket.
But this year, the Bidens won’t collapse anywhere; they will settle into the opulent retreat of none other than private equity mogul David Rubenstein.
For more than four decades, the Bidens have made a ritual pilgrimage to this coastal paradise, often residing in the vast Rubenstein complex – worth $38.9 million, according to the latest appraisal report – nestled along Nantucket Harbor.
President, he just celebrated his 81st birthdayis no stranger to this island getaway, having frequented the Rubenstein Estate for years.
Biden’s official agenda remains largely vacant, so insiders expect a casual stay massive presence of security apartOf course.
In addition to a planned conversation with members of the U.S. armed forces on Turkey Day, Biden may take a stroll downtown Friday and reportedly plans to end the day on Main Street. annual tree lighting festivalas he did last year with his wife Jill and other family members.
Rubenstein’s Shelter, perched on Abrams Point, is no ordinary shelter.
Acquired in 1998 for a cool $8 million, the estate spans 13.9 acres and is home to a lavish 8,000-square-foot home originally built for Rubenstein and his ex-wife, Alice.
The resort has since expanded to include five additional structures, including a guest house and a chic pool pavilion along charming and secluded Rabbit Run Road.
Despite its breathtaking views that paint the canvas of sunrise and sunset, Rubenstein, a man of industry, jokes with a rock on his lawn. who boldly declares: “I prefer to work.”
He admitted to spending only 12 days a year in this picturesque abode, preferring the hustle and bustle of business to the serene life of the island.
The Bidens’ ties to this island date back to the 1970s, when Biden was a senator, but their residence in the Rubenstein enclave is more recent, from 2014.
Initially rented for undisclosed sums, Rubenstein has now extended the ultimate gesture by offering his luxurious abode to the presidential family for their annual Thanksgiving getaways.
While Rubenstein envisioned the estate as a summer sanctuary, his rare visits belie the grandeur of his aspirations.
Despite his rare escapades on the islands, the influence of this financier extraordinaire reverberates far beyond the shores of Nantucket. His name adorns prestigious monuments in Washington, testimony to his deep connections and his immense fortune, estimated at $4.5 billion.
A former advisor to President Jimmy Carter and luminary of the capital’s social stratosphere, Rubenstein’s legacy transcends mere ownership.
His imprint adorns esteemed institutions like the National Museum of African American History and Culture, home to the David M. Rubenstein History Galleries, and even the National Zoo, showcasing the habitat of the giant panda of the David M. Rubenstein family.
As Biden and company settle into their temporary island hideaway, Rubenstein’s grand estate stands as a testament to the opulent and luxurious lifestyle of Washington’s elite.
Housing prices on Nantucket have risen exponentially over the past decade. Due to high demand and low supply, a property on the island has become something of a grand prize.
