One-Percenter: Obama Lists Assets Up to $7.15 Million
Financial disclosure forms released on Thursday reveal that President Barack Obama lists assets worth between $1.95 million and $7.15 million.
Obama and First Lady Michelle Obama reported $503,183 in income. Obama receives a presidential salary of $400,000.
Obama also reported outside income from book royalties and investments between $180,000 and $482,000. The Obamas have a 30-year mortgage of between $500,000 and $1 million on their Chicago home at a 5.625% interest rate.
Vice President Joe Biden reported assets between $230,000 and $850,000. He receives a vice presidential salary of $230,700. Biden listed a mortgage of between $500,000 and $1 million on a home with a 3.375% interest rate.
The Obamas' fortunes will likely receive a healthy boost when the president and Michelle Obama ink their memoirs. Famed literary agent Andrew Wylie says the first lady's book could fetch $12 million and the president's could shatter records by receiving a $17 million to $20 million book advance.
According to the U.S. Census, median household income from 2008-2012 was $53,046.