Obamas’ assets worth between $1.8 million and $7 million, financial forms show
05/15/2014 6:17 PM
05/15/2014 6:37 PM
President Barack Obama and First Lady Michelle Obama held assets worth between $1.8 million and $7 million last year, including between $1 million and $5 million in U.S. treasury notes, according to financial disclosure forms released by the White House on Thursday.
The treasury notes were the First Family’s largest single asset in 2013, but the Obamas also reported between $70,000 and $165,000 in income from book royalties, up to $250,000 in a Vanguard retirement fund, and between $200,000 and $400,000 in college savings plans.
The disclosure forms show that the Obamas still owe between $500,000 and $1 million on a 30 year mortgage for their home in Chicago, Illinois, with an interest rate of more than 5.6 percent. The couple does not appear to have refinanced since 2005.
Federal law requires the president, vice president and other high-level officials to submit their finances annually for review by the Office of Government Ethics. The forms list assets in ranges of hundreds of thousands of dollars, not exact amounts.
Ethics officials did not find any conflicts of interest in the 2013 reports submitted by Obama or Vice President Joe Biden, the White House said.
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