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Caroline’s 366 Acre Estate Worth $50M

From from the inimitable New York Post:

In this file photo of  May 20, 2004, Caroline Kennedy laughs at a joke by New York City schools chancellor Joel Klein, left, during a visit to Public School 11 in New York. 



December 29, 2008

Forget Chappaqua.

This amazing Martha’s Vineyard spread will be the next home-away-from-the-Beltway for New York’s junior senator if Caroline Kennedy is tapped to replace Hillary Rodham Clinton.

The 366-acre estate – worth at least $50 million – just underwent a major renovation and rezoning that will keep it the exclusive province of Kennedy, 51.

It’s also the spot where she got her first call to public service, six years before she launched her campaign for Hillary Clinton’s soon-to-be-vacant Senate seat.

In 2002, her houseguest, Schools Chancellor Joel Klein, reportedly floated the idea of her coming on board the city’s Department of Education as a fund-raiser.

Kennedy and her advocates have been relentlessly touting that two-year stint as qualifying her to be senator.

And the property, which mom Jackie Onassis purchased for $1.1 million in 1978, will make a perfect place for the senatorial hopeful to stealthily engage in political horse-trading as the manse can’t be seen from either the beach or the edge of its 2,000-foot-long driveway.

When a little R&R is in order, there’s 4,620 feet of oceanfront to play on.

The Kennedys just finished converting the 31 lots of land that make up the property into just seven with deed restrictions that limit subdivisions and development.

Five of the seven plots are for Caroline and her children, with the remaining two open to "non-Kennedys" if they ever decide to sell.

Money, however, will never be a worry. Caroline Kennedy’s personal fortune could exceed $400 million, according to C. David Heymann, author of "American Legacy: The Story of John and Caroline Kennedy."

She’s the beneficiary of a massive trust fund established by clan patriarch Joseph Kennedy.

This article also reminds us that Caroline’s fabled career in “public service” consists mostly of having once said “oh, um, sure, you know…” to a house guest.

It also reminds us that her trust fund was set up by Joseph Kennedy, whom some say managed things so that none of the children would ever have to pay taxes again.

Which may account for her refusal to disclose her finances until after she is “selected” Senator.

This article was posted by Steve on Monday, December 29th, 2008. Comments are currently closed.

11 Responses to “Caroline’s 366 Acre Estate Worth $50M”

  1. U NO HOO says:

    Hey, Rod Blagoj… appoint Caroline Kennedy to the US Senate.

    I’m serious.

  2. BillK says:

    Just to be clear, Joseph Kennedy’s off shore trust fund…

  3. proreason says:

    No doubt sweet Caroline pays a whopping tax bill on that estate.

    We’ll probably be hearing about it real soon.

    The Kennedy’s feel like paying taxes is a patriotic duty.

  4. CGardner says:

    I really wonder whether CK had money invested with Madoff, like a lot of the rich Park Ave. types did. After all, Madoff even took Spitzer for a bundle!

    • proreason says:

      Not a chance.

      People like Caroline and Obamy have superior judgement.

      That’s why they are so suited to high offices where they make momentous decisions about our lives.

      Obamy practiced for 20 years in his dorm room

      Since Caroline has the dna, she didn’t really have to practice.

  5. U NO HOO says:

    “…Obamy have superior judgement.”

    Well then, cap and trade and the demise of coal is OK!

  6. VMAN says:

    I wonder how many mud huts you could put on 366 acres?

  7. bobbys says:

    50mill?? im sure the press will be all over this like they were over Sarah Palins outfits

  8. 64dodger says:

    It also reminds us that her trust fund was set up by Joseph Kennedy, whom some say managed things so that none of the children would ever have to pay taxes again.

    Yep, the tax law was written to exclude the Kennedy’s and their millions. They live in a tax free haven created by congress.

  9. 1sttofight says:

    For any of yall interested in just how sleazy the kennedy’s really are, Check out this site;


    On January 29, 1919, the Eighteenth Amendment was ratified. It prohibited the manufacture, sale, transportation, or importation of “intoxicating liquors” for “beverage purposes.” For Joe, the law represented an opportunity to make huge profits.

    – He formed alliances with crime bosses in major markets, among them Boston, New York, Chicago, and New Orleans. These would come in handy years later when his son was running for national office. Among his mob associates was Frank Costello, former boss of the Luciano crime family, who bragged, “I helped Joe Kennedy get rich.” Sam Giancana, who would later figure prominently in Jack’s presidency, called Joe “one of the biggest crooks who ever lived.”
    – Joe bought liquor from overseas distillers and supplied it to organized crime syndicates that picked up the liquor on the shore. Frank Costello would later confirm that Joe had approached him for help in smuggling liquor. Joe would have the liquor dumped at a so-called Rum Row – a transshipment point where police were paid to look the other way – and Costello and other mobsters would then take over. They distributed the liquor, fixed the prices, established quotas, and paid off law enforcement and politicians. They enforced their own law with machine guns, usually calling on experts who did bloody hits on contract.

  10. 4USA says:

    According to a recent Biography episode on the History Channel, Joe’s fortune from illegal bootlegging was chump change next to the money he made shorting stocks prior to the Great Depression and then re-buying stocks when the country hit rock bottom. There was no oversight or regulations that prevented insider trading or outright lies propagated by more-than-willing cronies in the press. The resulting chaos and panic isn’t blamed on him, but actions like his clearly caused the depression and the Kennedy’s (among others) were the benefactors. Sound familiar? Then as the President nominated him to be the first SEC Chairman, FDR reportedly coined the phrase “it takes a thief, to catch a thief.” The overlords all had a big laugh about the whole con, banked the money, and proceeded to get richer in perpetuity. The Kennedy curse, if there is one, should be viewed through the prism of all the lives destroyed by this man.

    It’s no small wonder why the crooked politicians and super rich have no respect for this country. Even the strongest and bravest soldier is merely a sheep doing as he’s told. Our so-called republic through democracy was stolen almost as soon as it was framed.

    All we ever do is shake our heads at the blatant lies, the hypocrisy, the out-right extortion perpetrated on us all in full view. We accept responsibility for past travesties that we played no part in, yet are chastised and shamed into silence when we try to publicly stand against what is clearly wrong.

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