Obama's 2011 assets valued between $2.6M and $8.3M

U.S. President Barack Obama waves to visitors as he walks towards the Marine One on the South Lawn prior to his departure from the White House on May 10, 2012, in Washington, DC. / Getty Images

(AP) WASHINGTON - President Barack Obama and first lady Michelle Obama hold assets worth between nearly $2.6 million and nearly $8.3 million, according to financial disclosure reports released Tuesday by the White House.

The documents show the couple's assets for last year. The first family's assets were valued between $1.8 million and nearly $12 million in 2010.

Obama released the annual report in the middle of a presidential campaign that has brought attention to the wealth of his Republican opponent, Mitt Romney. The former Massachusetts governor is worth $190 million to $250 million, with much of his money coming from investments.

Romney has amended his 2010 financial disclosures during this primary season, and also caved in to pressure to release his tax returns. The returns showed a series of offshore holdings that weren't in the former Massachusetts governor's 2010 financial disclosure, including a Swiss bank account that has received criticism from the Obama campaign.

Obama's disclosure forms show he holds between $500,000 and $1 million in a JPMorgan Chase checking account. The Wall Street firm has faced scrutiny this week after it reported losing more than $2 billion on bad trading bets, prompting renewed calls for more stringent oversight of the nation's top financial institutions.

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Obama said Monday that JPMorgan Chase's loss showed the need for Wall Street rules passed by Congress two years ago, many of which are still being written and have not yet gone into effect. He said in an interview with ABC's "The View" that JPMorgan is "one of the best managed banks there is" and CEO Jamie Dimon is "one of the smartest bankers," but even the best-run banks can make mistakes, underscoring the importance of the regulations.

The disclosure form requires public officials to list their assets in broad ranges, for example, between $1 million and $5 million, making it difficult to determine a precise net worth.

The president and first lady's asset mix includes Treasury notes valued at between $1 million and $5 million, Treasury bills worth $500,000 and $1 million, along with retirement and checking accounts.

Royalties from Obama's books, "Dreams From My Father," ''The Audacity of Hope" and "Of Thee I Sing," totaled between $250,000 and $2.1 million.

The Obamas have a 30-year mortgage on their Chicago home worth between $500,000 and $1 million with an interest rate of 5.625 percent.

Vice President Joe Biden listed assets of between nearly $230,000 to $860,000, many of them in investment accounts and insurance policies. The vice president disclosed receiving $15,000 to $50,000 in rental income on a guest house in Wilmington, Delaware.

Biden also disclosed receiving an $800 Vulcain Cricket watch as a gift from a Helsinki, Finland, jewelry store owner who has given watches in the past to U.S. presidents who have visited Finland.

[wfw3536]

Obama is always critical of wallstreet, yet the CEO, Dimon of Chase is a good friend of the president, visited the WHite House 14 time and a big campaign contributor. Oh the hypocrisy, the big bankers are alright, and their money is better when Obama isn't campaigning against the terrible big banks on wallstreet.

[Martha12345]

Ok, Ok, Ok .......... but, Biden gives millions to charities. Just look at his contributions !!

[stormerF69]

Seems Jaylan and Ginvi,..are hung up on Obama paying for his and Michelle's food? what about all the Traveling at $86,000.00 an hour for Air force one,and his 29 trips to Ohio? As Offical Busniess?

[retm-w]

How about congress's vacation time, not a word about them. How about they're official fact finding missions(junkets)all paid for by the taxpayers, not a word about that.

[AOCGUY]

Stormer there is not an airplane in the world that cost $86K/hr to run. How far up your bum did you have to reach to pull that one out?

[johngalt_as]

So I guess he would have different answer than most of us when asked, "Are you better off now than you were 4 years ago?"

I am not denigrating him for having money at all. Only the hypocrisy he so openly displays.

[AOCGUY]

john, not sure where you are going with that but if the article is correct Obama is worth about $3-4 million less than 2 years ago.

[AOCGUY]

Heck at that rate if he gets re-elected he will be broke by the end of his second term.

[tcato-2009]

More money than I have but he's not rich. Heck a baseball, hockey or basketball player makes more money than he does......

[stormerF69]

But they have to work for it,not just lie,pay lip service,and it is not from my tax dollars.

[askagain]

Happy to see that Obama is one of the top 1% and not part of the 99%. And that is not envy on my part.

[Jaylah54]

Are you also aware of the fact that he did not inherit any of his money?

[stormerF69]

Inherit,Obama did not inherit any of the problems we have he applied for the job,and ran for office,if he felt he could not handle it he neds to resign.

[Manslick]

I can understand now why he deals with such a free hand when it comes to this conunry's money...$2.6 million, $8.3 million...somewhere in that 313% difference range.
$6 trillion+, $15 trillion+...yeah, somewhere in there. Hand something out.

[ginvi]

Well that doesn't seem like so much when you compare it to Romney, the Bushs or bankers and wall street men. Why do you think Obama would be any looser with money than those people?

[Manslick]

@ginvi...
It's not that he would be, it's that he is...over and over again.