Joe and Jill Biden returning for Thanksgiving at billionaire David Rubenstein’s $39M Nantucket estate

As the nation gears up for Thanksgiving, President Joe Biden and his family are set to touch down in their longstanding holiday haunt: Nantucket Island.

But this year, the Bidens won’t be crashing just anywhere; they’ll be bunking up at the opulent retreat of none other than private equity tycoon David Rubenstein.

For more than four decades, the Bidens have made a ritual pilgrimage to this coastal paradise, often residing in Rubenstein’s sprawling compound — worth $38.9 million, according to the latest assessor report — nestled along Nantucket Harbor.

The president, fresh off celebrating his 81st birthday, is no stranger to this island getaway, having frequented the Rubenstein estate for years.

Biden’s official agenda remains largely vacant, so insiders anticipate a laid-back sojourn — massive security presence aside, of course.

Apart from a scheduled chat with U.S. armed forces personnel on Turkey Day, Biden may meander through downtown on Friday and reportedly has plans to cap the day at Main Street’s annual tree lighting shindig, as he did last year with his wife Jill and other family members in tow.

Rubenstein’s haven, perched at Abrams Point, is no ordinary retreat.

David Rubenstein built the Nantucket home from the ground up after purchasing the estate back in 1998. Patriot Pics / BACKGRID
The waterfront property is situated on 13.9 acres of land. Google Maps
Joe Biden watches a Christmas tree lighting ceremony with first lady Jill Biden, son Hunter, grandson Beau and daughter-in-law Melissa Cohen in Nantucket on Nov. 25 last year.AFP via Getty Images
President Joe Biden, first lady Jill Biden and their daughter, Ashley, leave Nantucket Bookworks after having lunch in Nantucket, Massachusetts, on Nov. 25, 2022.AFP via Getty Images

Acquired in ’98 for a cool $8 million, the estate spans 13.9 acres, boasting a lavish 8,000-square-foot domicile originally constructed for Rubenstein and his former spouse, Alice.

The compound has since expanded to include five additional structures, featuring a guest house and a swanky pool pavilion along the secluded and charming Rabbit Run Road.

Despite its breathtaking views that paint the canvas of sunrise and sunset, Rubenstein, a man of industry, jests with a rock on his lawn that boldly declares: “I’d rather be working.”

He’s confessed to spending a mere 12 days annually at this picturesque abode, preferring the hustle and bustle of business over serene island life.

The ties between the Bidens and this island stretch back to the ’70s when Biden was a senator, but their residence in Rubenstein’s enclave has been more recent, beginning in 2014.

Joe Biden has spent every Thanksgiving on the Nantucket property for the last several years. H. Flint Ranney/Nantucket Historical Association
President Biden and first lady Jill Biden walk with their daughter Ashley after having lunch at Brotherhood of Thieves in Nantucket last Thanksgiving.AP
Joe and Jill Biden step out of St. Mary, Our Lady of the Isle Catholic Church after attending mass in Nantucket on Nov. 26, 2022.AFP via Getty Images

Initially rented out for undisclosed sums, Rubenstein has now extended the ultimate gesture, gifting his luxurious dwelling to the presidential family for their annual Thanksgiving escapades.

While Rubenstein envisioned the estate as a summer sanctuary, his rare visits belie the grandeur of his aspirations.

Despite his infrequent island jaunts, this financier-extraordinaire’s influence echoes far beyond Nantucket’s shores. His name adorns prestigious landmarks in Washington, a testament to his deep-rooted connections and massive fortune, estimated at a staggering $4.5 billion.

A former advisor to President Jimmy Carter and a luminary in the capital’s social stratosphere, Rubenstein’s legacy transcends mere property ownership.

David Rubenstein has hosted Biden at his Nantucket home every year for the last decade. CQ-Roll Call, Inc via Getty Images

His imprint graces esteemed institutions like the National Museum of African American History and Culture, where the David M. Rubenstein History Galleries stand tall, and even the National Zoo, featuring the David M. Rubenstein Family Giant Panda Habitat.

As Biden and company settle into their temporary island haven, Rubenstein’s grand estate stands as a testament to the opulent and luxe lifestyle of Washington’s elite.

Nantucket home prices have soared exponentially in the last decade. Due to a recipe of high demand and low supply, a property on the island has become a sort of grand prize.