The net worth of US President Barack Obama and his wife Michelle Obama in the year 2011 is estimated between $2.6 million and $8.3 million. These annual figures have been released in a financial report presented by the White House.
The news agency AP quoted the White House's financial report as saying that the figures released are from last year, whereas, in 2010, the total wealth of the Obama couple was between $1.8 million and $1.2 million.
This report has been released at a time when preparations are in full swing for the presidential election in America.
If we look at the wealth of Republican rival Mitt Romney, according to the news agency AP, the former governor's net worth is between $ 190 million and $ 250 million, with a significant contribution from investment gains.
In the early stages of the presidential election, Romney made changes to his 2010 financial announcement and was under pressure to make public the details of the tax he paid.
Also account in JP Morgan Chase
According to Obama's financial announcement, he also has an account in JP Morgan Chase with deposits ranging from $ 5 million to $1 million.
JP Morgan Chase, recorded in the US business center Wall Street, lost two billion dollars from a bad investment plan, which was also investigated this week.
Those national and international news which became headlines throughout the day.
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Obama said on Monday that JPMorgan Chase's losses showed the importance of the Wall Street law that Congress enacted two years ago. Many of these laws are yet to be implemented, while many are yet to be written.
Financial Declaration Forms require US government officials to display their assets in different categories of minimum and maximum ranges, which makes it difficult to accurately estimate one's wealth.
The assets of US President Barack Obama and his wife include Treasury notes of value between $1 million and $5 million and Treasury bills of the same value, as well as investments in several other accounts.
According to the AP, the financial announcement report revealed that Obama received royalties between $250,000 and $2.1 million from his books, 'Dreams from My Father', 'The Audacity of Hope' and 'Of the I Sing'.
Interestingly, the Obama family has taken a 30-year loan for their house in Chicago. The value of this house is estimated at $ 5 million to $1 million and they have to pay 5.625 percent annual interest rate on the outstanding loan on it.
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