President Obama and his wife are worth almost $6 million, according to his latest financial disclosure report filed this year.
According to Forbes, which studied the President’s financial reports for this year and the previous four, even though they are actually worth less than they were last May, it’s still not bad for a community organizer and a hospital communications director.
Analysts estimate that most of his money has been invested in U.S Treasury notes at about $2.4 million and T-Bills at $1 million and with the latter’s drop in value since 2011, and which adds up to $3.4 million in all – much lower than his previous disclosure at which the previous figure was about $5.2 million.
The Obamas are also said to have about three-quarters of a million in cash, about $ 625000 in mutual funds and ETFs, $ 300000 in college funds for both his daughters and $ 90000 in a State of Illinois pension fund.
Another big reason for his wealth is the royalties that have been generated from his books ‘Dream from my Father’ and “The Audacity of Hope”, which peaked in 2009 at a figure of about $ 5.7 million. However, these figures have also dropped to about $ 1.6 million in 2010 due to the proceeds of his new book, “Of Thee I Sing: A Letter to my Daughters” being given away for scholarships for disabled and the children of disabled and fallen soldiers.
However, their most valuable asset is their $1.65 million home in Hyde Park on the South Side of Chicago which is about 6200 square feet in size and has 6 bathrooms and 3 fireplaces, making it $6 million in all.