Jerry Della Femina, Betsy McCaughey Ross and her husband Wilbur...

Jerry Della Femina, Betsy McCaughey Ross and her husband Wilbur Ross at a Body Positive function at Della Femina's home in East Hampton. (May 22, 2003) Credit: AP Photo

Advertising mogul Jerry Della Femina has put his 7,000-square-foot East Hampton mansion on the market for $40 million, the New York Post reports.

Della Femina, co-publisher of the weekly East Hampton Independent and owner of a restaurant named after himself, told the Post that he was looking to sell the oceanfront property at 20 Drew Lane "before [President] Obama decides to redistribute any more of my wealth."

Jerry Della Femina, Betsy McCaughey Ross and her husband, Wilbur Ross, at a Body Positive function at Della Femina's home in East Hampton. (May 22, 2003) AP photo
 

Join NewsdayTV as we recount the top business stories on LI that you need to know about.

It's Your Business! This month's roundup including how to protect yourself from digital scams Join NewsdayTV as we recount the top business stories on LI that you need to know about.

Join NewsdayTV as we recount the top business stories on LI that you need to know about.

It's Your Business! This month's roundup including how to protect yourself from digital scams Join NewsdayTV as we recount the top business stories on LI that you need to know about.

SUBSCRIBE

Unlimited Digital AccessOnly 25¢for 6 months

ACT NOWSALE ENDS SOON | CANCEL ANYTIME