Barack and Michelle Obama looking to divide $70M in assets as they get closer to announcing split: Source
WASHINGTON, DC: Former President Barack Obama and his wife, Michelle Obama, are working with lawyers and mediators to divide their assets as they edge closer to announcing their divorce to the public, insiders revealed to RadarOnline.
Their sensational split is set to become the first-ever post-White House divorce between a former president and a first lady, per the outlet.
Barack and Michelle Obama want to have everything ironed out before announcing split
Sources revealed that Barack and Michelle Obama's lawyers and mediators are trying to come to terms and divide their wealth and assets worth approximately $70 million before they come clean with the people later this year.
An insider told the outlet, "They want to have everything ironed out in advance. The last thing they want is an ugly fight with lots of nasty legal filings."
Earlier, a political expert told the outlet that the couple's partnership had turned "venomous" after Donald Trump's landslide victory over Kamala Harris in the 2024 presidential election.
Insiders revealed that Barack asked Michelle to take up the Democratic Party's standard after Joe Biden's abrupt exit from the Oval Office race in July last year.
However, they added that Michelle balked at her husband's ultimatum and decided to pursue her Hollywood ambitions through their company Higher Ground Productions.
A source said, "They'd already been living separate lives on opposite coasts for some time, but that was no longer an option after Michelle refused to run and Barack was forced to back Kamala. That was a total humiliation for him – especially since she lost."
"They have homes in DC, Martha's Vineyard, and Chicago-plus a stock portfolio in excess of $25 million. There are also substantial revenue streams from their various media projects to divide and manage going forward," claimed another tipster.
They added, "It's far from easy to untangle a life of three decades with someone, but maintaining the illusion of a happy and stable marriage is no longer a solution. They both are of the mind that they will be better off on their own."
The Obamas' A-list friends may be forced to choose sides after their split
The divorce rumors surrounding the Obamas gathered attention when the former first lady did not accompany Barack Obama to former President Jimmy Carter's state funeral and President Donald Trump's inauguration.
The speculations about their relationship have led to concerns that many A-listers may be forced to choose sides after their split.
An insider told RadarOnline, "Ellen DeGeneres has a famously close relationship with Michelle, who was on Ellen's now-defunct talk show multiple times, while Barack is well known to have authentic friendships with the likes of Bruce Springsteen and George Clooney."
"The part that gets tricky is if the hypothetical split becomes acrimonious. Nobody wants to get on either of the Obamas' enemies list – but you can't rule out the possibility of that happening. All of their Hollywood pals are very much in wait-and-see mode as the rumors continue to circulate," the mole added.
They suggested that the couple should have already addressed the gossip.
The source mentioned, "The Obamas are beyond the point where they need to do something publicly – like take a romantic vacation or kiss in public – to shut down all the rumors and speculation. It's suspicious that they haven't taken that step yet, and it's making their famous friends in Hollywood nervous."
