The president of Goldman Sachs has come under fire from officials in Martha’s Vineyard after allegedly cutting down 19 trees that obscured the view from his luxury vacation home, as reported by the Post.
John Waldron, the second-in-command at the banking powerhouse and a likely successor to CEO David Solomon, attracted attention last spring when violations related to his four-acre property near Katama Bay came to light. This is the charming coastal area where director Steven Spielberg shot the film “Jaws” back in 1975.
Waldron and his wife Amanda acquired the vacant Edgartown property in 2020 for over $11 million. Two years later, they completed their four-bedroom vacation home on the Massachusetts island, a spot favored by East Coast elites. Today, the property is estimated to be worth more than $30 million.
However, a spring site inspection revealed that Waldron had apparently removed 19 cedars and pitch pines that were supposed to remain intact, per documents from the Edgartown Conservation Commission. Some of those trees were 60 years old and reached heights of up to 60 feet.
Despite the town approving a construction plan in 2022 that sanctioned the removal of 11 trees, it specifically prohibited the cutting down of the 19 in question, according to town officials.
“During a recent site inspection on April 9, 2025, it was reported to our office that nearly all the trees intended to stay between the residence and the water have been removed,” noted Edgartown Conservation Officer Kara Shemes in an August cease-and-desist letter to Waldron that was obtained by the Post.
The lawsuit contends that Waldron’s unapproved landscaping work occurred within a wetland preserve, creating potential harm for local wildlife and undermining important regulations.
“This action violates the granted permits and recorded plans,” she added, asking for clarification through her lawyer about the violations of the Wetlands Act and local rules.
Peter Welsh, representing the Goldman family, stated that Waldron is committed to conservation and is working with experts to ensure the health of the wetlands.
According to court filings, Waldron’s architect, John Kett, attempted to persuade officials at a meeting in September 2022 that the owners, being “sun people,” desired more sunlight on their property, but this argument fell flat.
Shemes later mandated that Waldron submit a plan within 30 days to address the damage to the wetlands.
Waldron received fines totaling about $9,000, which were equivalent to $300 daily for a month. Such fines are uncommon on Martha’s Vineyard, leading officials to dig through records to determine the payment process. The bank’s legal team managed to have the fines suspended by November, even though reports implied Waldron suggested he would contribute generously to wetland maintenance.
However, his remediation plan, submitted mid-December, notably did not include reinstating the removed trees. Instead, it proposed planting native shrubs, claiming they would better assist local rare insect species while still allowing for appealing views.
A local attorney representing Waldron insisted that they weren’t overlooking regulatory demands, adding that their proposal “is not a big tree.” During a public hearing attended online by the Post, conservation commissioner Bob Avakian expressed shock at Waldron’s decisions and insisted that the trees should be replanted.
“They violated the terms of the order,” he stated, directing his frustration at Waldron’s attorney. “If you’d come to us with a plan to cut down all these trees, we’d likely have said no.”
“This sets a precedent that anyone with waterfront property can simply cut down trees,” Avakian continued. “Why are these regulations in place if they can be ignored?”
Another Edgartown official pointed out that the enforcement order demands the area be restored to its original state, including the necessary trees, which Waldron’s current proposal fails to do.
Sources suggested that the aim is to resolve the matter without going to court, though legal actions might still be months away if tensions grow.
Experts have also uncovered unspecified “archaeological features” at the site, prompting a need for consultation with the Aquinnah Wampanoag Tribe before any further development proceeds.
The tribe, with a presence on Martha’s Vineyard for over 12,000 years and federally recognized since 1987, must be properly notified and allowed to oversee any activities that disturb the ground.
The Wampanoag Tribal Council has not yet commented on the situation.
Additionally, Waldron lives primarily in a luxurious residence in Central Park, dubbed the “Tower of Power,” known for housing many wealthy and famous individuals.
Former president Barack Obama and his wife Michelle also own a lavish property on Martha’s Vineyard, having purchased a 29-acre estate for around $12 million in 2019, not far from the historic town founded in 1642.
Waldron reportedly earned $38 million in 2024 and signed a five-year “golden handcuffs” contract worth $80 million last year, intended to keep him at Goldman Sachs. Details about his salary for 2025 have not been revealed.
His New York residence, 15 Central Park West, is home to prominent neighbors, including past Goldman CEO Lloyd Blankfein and various celebrities.
With rumors swirling about him taking over as CEO from the 64-year-old Solomon, many within Goldman Sachs express admiration for Waldron’s leadership style.
