Key Takeaways
- • President Biden spent Thanksgiving 2021 at a $30 million Nantucket estate owned by David Rubenstein, co-founder of Carlyle Group and a billionaire worth $4.5 billion, marking the second consecutive year the Biden family chose this location for the holiday.
- • The timing drew political criticism amid record inflation, with the American Farm Bureau Federation reporting Thanksgiving meal costs for 10 people increased 14% year-over-year to an all-time high of $53.31, while the USDA reported a more modest 5% increase.
- • Rubenstein, who also serves as owner of the Baltimore Orioles, was traveling abroad and did not attend the dinner; the White House confirmed the arrangement on Tuesday evening prior to the holiday.
- • Republicans leveraged the optics of Biden's billionaire-hosted Thanksgiving to critique economic policy, with GOP leadership drawing contrasts between the president's accommodations and struggling American consumers facing elevated food and energy costs.
- • White House Press Secretary Jen Psaki defended the president's holiday plans, noting that turkey prices had not increased drastically and that presidential duties continue regardless of location.
Summary
President Joe Biden and his family spent Thanksgiving 2021 at the Nantucket estate of David Rubenstein, co-founder and co-chairman of private equity firm Carlyle Group. The $30 million property hosted the presidential family for the second consecutive year, according to White House confirmation on Tuesday evening. Rubenstein, a billionaire with a net worth of $4.5 billion who also owns the Baltimore Orioles baseball franchise, was traveling internationally and did not attend the gathering.
The presidential holiday choice drew immediate scrutiny from Republican leadership amid elevated consumer price pressures nationwide. Data from the American Farm Bureau Federation released the week prior indicated that the average cost of a Thanksgiving dinner for 10 people had risen 14% compared to the previous year, reaching an all-time high of $53.31. The U.S. Department of Agriculture reported a less dramatic 5% increase. GOP House Judiciary Committee leadership and Republican National Committee Chairwoman Ronna McDaniel criticized the optics of Biden celebrating at a billionaire's estate while ordinary Americans faced record inflation in food and energy costs.
White House Press Secretary Jen Psaki addressed the criticism during a Tuesday press briefing when Fox News correspondent Peter Doocy posed questions about the "most expensive Thanksgiving ever." Psaki acknowledged administration concern regarding price increases but noted that turkey prices specifically had not experienced sharp escalation. She added that presidential responsibilities and duties continue irrespective of geographic location.
The holiday arrangement reflected ongoing tensions between the Biden administration and Republican opponents over economic messaging, particularly inflation concerns that had intensified through late 2021. While the president maintained his Nantucket tradition with a billionaire host, the Biden family also observed pre-holiday traditions, with the president and first lady volunteering at a Washington food kitchen to prepare meals for those in need before departing for the long weekend.
The presidential holiday choice drew immediate scrutiny from Republican leadership amid elevated consumer price pressures nationwide. Data from the American Farm Bureau Federation released the week prior indicated that the average cost of a Thanksgiving dinner for 10 people had risen 14% compared to the previous year, reaching an all-time high of $53.31. The U.S. Department of Agriculture reported a less dramatic 5% increase. GOP House Judiciary Committee leadership and Republican National Committee Chairwoman Ronna McDaniel criticized the optics of Biden celebrating at a billionaire's estate while ordinary Americans faced record inflation in food and energy costs.
White House Press Secretary Jen Psaki addressed the criticism during a Tuesday press briefing when Fox News correspondent Peter Doocy posed questions about the "most expensive Thanksgiving ever." Psaki acknowledged administration concern regarding price increases but noted that turkey prices specifically had not experienced sharp escalation. She added that presidential responsibilities and duties continue irrespective of geographic location.
The holiday arrangement reflected ongoing tensions between the Biden administration and Republican opponents over economic messaging, particularly inflation concerns that had intensified through late 2021. While the president maintained his Nantucket tradition with a billionaire host, the Biden family also observed pre-holiday traditions, with the president and first lady volunteering at a Washington food kitchen to prepare meals for those in need before departing for the long weekend.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.