Barack Obama's financial assets revealed
Barack Obama's financial assets revealed
US president's approximate wealth revealed in financial disclosure forms made public by the White House
Under the disclosure rules, the Obamas do not have to specify how much they are worth, just the broad range.
Although Obama's assets show he is far from being an average American, the family still falls well short of the wealth of his Republican opponent Mitt Romney, estimated at over $200m.
Much of the president's money has come from his memoir, Dreams From My Father, and a children's version of the book. Royalties from the book, in the range of $100,000 to $1m, are down from last year's $1m to $5m.
One interesting detail, given JP Morgan Chase's prominence in the news since Friday, is that Obama banks with them. It holds between $500,000 and $1m of his money. As president, he earns about $400,000 a year.
The Obamas have a 30-year mortgage on their Chicago home, worth between $500,000 and $1m, with an interest rate of 5.6%.
Their assets include a saving plan for the college education of their daughters, Sasha and Malia.
Vice-president Joe Biden's assets were also released, revealing his more modest finances, although the form reveals he negotiated a better mortgage interest rate than the president at 4.6%.
The Obamas' assets in 2010 were between $1.8m and about $12m.
The Obamas are required to disclose their assets under the 1978 ethics in government act, which also applies to senior officials
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