Obamas list assets between US$1.8 mil. and US$7 mil.
May 17, 2014, 12:06 am TWN
WASHINGTON--U.S. President Barack Obama and first lady Michelle Obama reported assets worth between US$1.8 million and US$7 million for last year, little changed from their previous year's holdings, according to financial disclosure forms released Thursday.
The forms, required by law, permit public officials to list their assets in broad ranges. As a result, a precise net worth is difficult to ascertain.
The forms show the largest jointly owned assets by the president and the first lady were Treasury notes worth between US$1 million and US$5 million. While the value of their assets is certainly higher than that of most Americans, their mix reflects the financial demands of a 50-something couple with two daughters. Their assets include Vanguard retirement funds and college savings plans.