Tuesday, May 15, 2012

Obama's Wealth

May 15, 2012

Obama worth as much as $10 million

By Richard Wolf, USA TODAY
Updated 1h 31m ago
By Haraz N. Ghanbari, AP
Three things are apparent from President Obama's annual financial disclosure statement, released today:
He is a wealthy man, with assets of as much as $10 million.

He has a hefty stake in JP Morgan Chase, the megabank that just made a bad $2 billion bet. Obama has an account worth between $500,000 and $1 million.

Despite the nation's $15.6 trillion debt, he is a believer in government paper. More than half his assets are in Treasury bills and notes.
The disclosure statement lists assets and liabilities in dollar ranges, so pinpointing the president's net worth is difficult. His assets appear to tally between $2.6 million and $9.9 million. He holds a mortgage on his Chicago home of $500,000 to $1 million.

As was clear from Obama's income tax filing, much of his income continues to roll in from book royalties. The disclosure form lists $100,000 to $1 million in royalties from Dreams from My Father, $100,000 to $1 million from Of Thee I Sing: A Letter to My Daughters, and $50,000 to $100,000 from The Audacity of Hope.

Vice President Biden, on the other hand, isn't all that wealthy. His financial disclosure statement includes less than $1 million in assets -- and as much as $1.5 million in liabilities, including between $500,000 and $1 million on his Wilmington home.

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