Stacey Abrams Purchased Two Homes Valued at $1.4 Million After Reporting Massive Debts in 2018

Stacey Abrams
by Andrew Kerr

 

Former Georgia Democratic gubernatorial candidate Stacey Abrams purchased two homes worth a combined $1.4 million following her failed 2018 bid to lead the state, public records reviewed by the Daily Caller News Foundation show.

Abrams purchased the homes despite reporting in a financial disclosure in early 2018 during her gubernatorial campaign that she owed the IRS $54,000 in back taxes on top of $174,000 in credit card and student loan debt.

Abrams purchased a 3,300 square foot home in Stone Mountain, Georgia, for $370,000 in September 2019, according to Nexis real estate records. The home is now worth $425,000, according to Redfin.

Just over a year later, in October 2020, Abrams sold an Atlanta townhome she purchased in 2004 and bought a 4,100 square foot home in the city for $975,000, Nexis records show. Her new Atlanta home is now valued at just over $1 million, according to Redfin.

Abrams’ home purchases were first reported by Fox News.

Abrams’ financial situation appears to have improved considerably since her 2018 election loss to Georgia Gov. Brian Kemp in a race which she has never conceded.

She repaid her tax, credit card and student loan obligations entirely by May 2019, according to The Atlanta Journal-Constitution.

Following her election defeat, Abrams published a memoir that spent multiple weeks on The New York Times bestseller list in April 2019.

Abrams has also cashed in on lucrative speaking arrangements since her defeat, with fees ranging from $50,000 to $100,000 per event, according to Speaker Booking Agency.

Abrams appears to have had a healthy stream of income before her failed gubernatorial campaign, despite reporting a substantial amount of debt in her financial disclosure filed in early 2018. She reported earning $177,000 in 2017 and $105,000 in 2018 in the disclosure.

Abrams reported holding equity in five Georgia-based small businesses in her 2018 disclosure. She also reported holding titles of advisor, CEO, COO, director, trustee and board member with 12 business entities across the state.

The disclosure also stated Abrams was owed $150,000 for a book advance from Henry Holt & Co.

Abrams’ nonprofit group Fair Fight Action saw its revenues increase tenfold to $10.9 million in 2019, but the group hasn’t paid Abrams a salary since 2016, according to its Form 990s filed with the IRS.

Abrams did not return a request for comment.

– – –

Andrew Kerr is a reporter at Daily Caller News Foundation.
 

 

 


Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact [email protected].

Related posts

4 Thoughts to “Stacey Abrams Purchased Two Homes Valued at $1.4 Million After Reporting Massive Debts in 2018”

  1. jamesb

    zukerbucks is where the loot came from.

    oligarchs now running our country

  2. 83ragtop50

    Reminds me so much of Obama. Poor broke Michelle and Barrack purchased multimillion dollar compound way back when.

  3. Ms Independent

    Oh I’m just so 😮 shocked! She and the BLM founder have a LOT in common.

  4. Tim Price

    When are people going to realize that these so called leaders are playing them like pianos and are taking the money given and using it for personal purposes?

    Emotions cause stupid people to do stupid things while totally ignoring what it happening!

    Trump is selling us blind?

    I think that Progressives and Democrats are selling us blind!

Comments