• Barack and Michelle Obama own a Martha's Vineyard property worth $11.75 million
  • The former president is hosting a party at the estate for his 60th birthday
  • Around 475 guests are expected to show up at Obama's birthday party

Barack Obama, the 44th President of the United States, and his wife, Michelle, are the proud owners of a massive $11.75 million Martha's Vineyard estate, where the former national leader is reportedly hosting a party for 475 guests on his 60th birthday.

The former president and his wife purchased the property in December 2019 after initially renting it. The 6,892-square-foot main house sits on a 29-acre beachfront lot and is equipped with seven bedrooms and eight and a half bathrooms. The real estate was initially listed for $14.85 million, but the Obamas paid much less than the asking price, the New York Post reported.

Obama’s vineyard estate is located at 79 Turkeyland Cove Road in Edgartown, Massachusetts, and it features an expansive living room with vaulted ceilings and a stone fireplace. The property also has a chef’s kitchen with a formal dining room with giant windows.

The breakfast room in the kitchen lies on the first story of a dodecagon attachment on the house with an upper floor that acts as a 12-sided conference room. The main suite of the house has its own fireplace and a private sundeck based on the listing, the outlet said.

Despite catering to hundreds of guests, Obama’s 60th birthday party will follow the Centers for Disease Control and Prevention’s (CDC) public health protocols, a source familiar with the planning of the event said, as per CNN. Guests would also be required to undergo testing upon arrival and a COVID safety coordinator will be stationed on-site.

The area where the vineyard is situated has been designated by the CDC as an area of “moderate” COVID-19 community spread. Only regions marked with “high” and “substantial” transmissions were given new mask mandates for indoor settings.

Obama was listed as one of the most powerful people in 2016, the year before his presidency came to an end, Forbes reported. He currently has an estimated net worth of $70 million, a combined value with his wife. The majority of the couple’s fortune came from a $65 million book deal in 2017 for their autobiographies, according to VOX.

The former politician published "A Promised Land" where he detailed his presidency, and it sold more than 890,000 copies in the U.S. and Canada within 24 hours of its release, the Associated Press has learned.

On the other hand, Michelle's "Becoming," where she told the story of her life leading up to her husband's presidency and how she found her voice, sold 725,000 copies on its first day of release in North America. It has since sold more than 10 million copies worldwide.

Former U.S. President Barack Obama
Former U.S. President Barack Obama speaks during a get-out-the-vote rally at the Cox Pavilion as he campaigns for Nevada Democratic candidates on October 22, 2018 in Las Vegas, Nevada. Early voting in Clark County, Nevada began on October 20 and has recorded the highest turnout during the first two days of early voting in a midterm election. Getty Images/Ethan Miller