If Barack Obama and his family decide to summer in Oak Bluffs, as the Boston Globe reports they are considering, they would enjoy not just pristine beaches, but a social scene that includes some of the nation’s most successful black artists, thinkers and entrepreneurs.

They don’t come much more networked than Valerie Jarrett.

The radio business has been very good to Lowry Mays and Billie Joe “Red” McCombs.

In 1972, they formed the San Antonio Broadcasting Company to buy an FM station for $125,000.

Thirty-five years later, that company is called Clear Channel Communications and it owns more than 1,000 stations. Its shareholders recently approved a $19.5 billion private equity buyout that values Mays’ stock at more than $1.1 billion and McCombs’ shares at about $190 million. The deal is expected to close before the end of the year.

In early 2000, when Clear Channel shares hit $95, the founders’ stock would have been valued at more than twice as much as now.