Failed Georgia gubernatorial candidate Stacey Abrams has become quite the real-estate tycoon since her loss to Republican Brian Kemp in 2018.
The Democrat entered the race more than 200,000 in debt, and not because she had a big mortgage. She owed more than $50,000 to the Internal Revenue Service, and four times that amount in credit card debt.
Yet since then, she’s paid it all off and purchased two homes worth more than $1.4 million.
Bellyaching about voting rights and losing a governor’s race are, apparently, lucrative endeavors.
Two Homes
Abrams never conceded to Kemp and probably still thinks she’s the “real governor” of Georgia, but anyway, she’s branching out into real-estate acquisitions, Fox News reported:
The former state lawmaker bought her first townhome in DeKalb County for $246,300 in 2004 and purchased a second home in the area in 2019 for $370,000 that is now valued at $409,400.
Fast-forward to October 2020, just days before the presidential election. Abrams simultaneously sold the home she bought in 2004 for $400,000 and bought a new second home for $975,000.
The home Abrams purchased in October of last year is now valued at $1,003,934.
The two houses are worth a combined $1.4 million, illustrating that Abrams has seen a significant financial tailwind since her failed 2018 campaign.
“Financial tailwind” is one way to describe her sudden success. You could call it a “hurricane of Ben Franklins” given what she paid off so quickly.
“According to her 2017 financial disclosure forms for her campaign,” Fox reported, “Abrams had a net worth of just under $110,000 with just above $410,000 in total liabilities. She also had an IRS debt of $54,000 that she settled in 2019.”
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Abrams wrote about her debt in Forbes to defend herself against charges that someone who can’t handle their own finances certainly can’t handle those of Georgia.
“I owe the IRS over $50,000 in deferred tax payments (I am currently on a repayment plan) and hold more than $170,000 in credit card and student loan debt,” she wrote.
In fairness to Abrams, her explanation of the whopping debt load isn’t all that unreasonable. She helped her parents care for her drug-addict brother’s child, and paid most of the bills they couldn’t.
Then again, she used $50,000 of her own money to finance her losing campaign — while she owned the tax debt, the Atlanta Journal-Constitution reported.
“If that’s not criminal,” Kemp said, “it should be.”
Not long after losing, Abrams became yet another black leftist celebrated far and wide by all the Right People.
She wrote a book that became a New York Times bestseller, and also snagged “lucrative speaking engagements,” the newspaper reported. Lucrative is right. She charges $50,000 to $100,000 a pop.
No wonder she paid off her debts so quickly, and having retired them, one would think Abrams might be content with one home.
Alas and alack, money burns a hole in her pocket.
Patrisse Cullors
Another avid collector of homes is Patrisse Cullors, the Marxist who struck it rich by founding the Black Lives Matter shakedown outfit that terrorizes cities when police shoot black criminals such as Jacob Blake.
As The New American reported in May, citing the New York Post, Cullors has plunked down $3.2 million on four homes. And those are just in the United States.
Cullors looked at homes in the Bahamas worth between $5 million and $20 million, and in April bought a $1.4 million home near Malibu. She also purchased a 3.2-acre property in Georgia that boasts a private airplane hangar and runway for small planes. The nicely-appointed abode also has an indoor swimming pool.
Low-ranking BLM workers want Cullors investigated for money she funneled to the father of her child.
H/T: Daily Caller
