Tags: obama | worth | between | 1.8M | 6.8M

Obama Worth Somewhere Between $1.8M and $6.8M, Disclosure Form Shows

Image: Obama Worth Somewhere Between $1.8M and $6.8M, Disclosure Form Shows

Thursday, 16 May 2013 09:10 AM

By Alexandra Ward

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President Barack Obama's net worth may be slipping, according to federal financial disclosure forms the White House released Wednesday.

According to the documents, the Obamas held assets last year valued between $1.8 million and $6.8 million, compared to the $1.8 million to $12 million range reported in 2010, and the $2.6 million to $8.3 million range from 2011.

Required by law, the disclosure forms allow public officials to list their assets in broad ranges, such as between $1 million and $5 million. That makes it difficult to determine a precise net worth.

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The disclosure forms listed the Obamas' largest joint asset as Treasury notes worth between $1- and $5 million. The president and first lady each hold $100,001-$250,000 in individual Vanguard retirement funds, and together have between $250,001-$500,000 in a JPMorgan Chase checking account.

The only liability listed was $500,001-$1 million on a 30-year mortgage on their Chicago home, at an interest rate of 5.625 percent.

The forms also show that Obama collected between $250,000 and $2.1 million in royalties on his three best-selling books: "Dreams From My Father," "The Audacity of Hope" and a children's book, "Of Thee I Sing: A Letter to My Daughters."

Obama's book sales have declined dramatically since the early days of his presidency, according to tax returns released in April. In 2009, his business income from book sales came in around $5.2 million, and fell to about $259,000 in 2012.

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The Obamas had an adjusted gross income of $608,611 last year, down from $789,674 in 2011, and paid $112,214 in total taxes, compared to $162,074 in 2011, according to tax returns.

Their total income came in at $662,076 — down almost 22 percent from $844,585 the previous year.

Related stories:

Study: Obama Could Take Financial Tips From Hillary

Obama to Blame for Americans' 39% Drop in Wealth

Big Bird Is Richer Than Romney

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