Kamala Harris, the presidential candidate, and her husband Doug Emhoff have surprised many by refinancing their expensive properties on both coasts a whopping ten times. They’ve borrowed a staggering $13 million to do this, despite their combined net worth being around $8 million, according to Forbes.
What’s even more surprising is that all their loans are with Wells Fargo Bank, a bank Kamala had major legal battles with when she was Attorney General of California. Back then, she fought Wells Fargo over issues like privacy violations and predatory lending, so it’s quite a twist that she’s now borrowing millions from them.
Here’s a closer look at their real estate dealings:
The California Mansion
The couple owns a luxurious mansion in Brentwood, Los Angeles, which they’ve heavily mortgaged. Doug Emhoff bought this home for $2.7 million in 2012. Since then, they’ve taken out numerous loans on it, including a $2 million mortgage and several lines of credit totaling $10.16 million. The property’s value has nearly doubled, making their financial moves seem even more remarkable.
The Washington D.C. Condo
In addition to their California mansion, Kamala and Doug also own a two-bedroom condo in a fancy Washington D.C. building called the Westlight. They bought this place for $1.75 million in 2017. They’ve taken out multiple loans on this condo as well, initially borrowing $1.4 million. After paying off this loan, they took out another for $1.35 million, but they sold the condo for $1.85 million in 2021.
A Surprising Connection
Kamala Harris’s financial activities seem especially intriguing given her past. As Attorney General, she took legal action against Wells Fargo for mishandling consumer information and for their role in the foreclosure crisis. Despite her tough stance against the bank, her and Doug’s financial strategies heavily involve Wells Fargo.
Why It Matters
This story is generating buzz because it mixes high-stakes finance with political drama. Kamala Harris’s ongoing involvement with Wells Fargo after her legal battles raises questions and sparks curiosity. With the couple borrowing so much despite their relatively modest net worth, many are wondering about the motivations and implications behind these financial maneuvers.
