He probably has part ownership in houses for his children, waiting until they can take over mortgages for themselves. As well as being tied up in mortgages from his previous marriage and children. He's probably taking care of a lot of people and leaves those details to an accountant. It gets confusing. I don't think these are seven "pleasure palaces" or anything he flits around to. It's probably more an idication of his responsibility to loved ones. Just my opinion.

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Obama Low Effort Wealth Spread. I can't believe it's not earned!