Obamas money: Heavy on treasuries
May 16th, 2011
06:16 PM ET

Obamas money: Heavy on treasuries

By CNNMoney Senior Writer Jennifer Liberto

WASHINGTON (CNN) -A big portion of President Obama's wealth is invested in federal debt, according to a financial disclosure form released Monday.

The president and First Lady Michelle Obama had assets valued between $2.8 million and $11.8 million in 2010.

And between $2 million and $10 million of their assets are invested in super-safe U.S. Treasury securities, according to the disclosure form. That's up from $1.5 million to $6 million reported invested in Treasury notes and bills in 2009.

The report uses broad financial ranges, making a more precise accounting impossible.

The president and First Lady reported no debts.

They also have between $350,000 and $800,000 invested in IRAs and other retirement funds, according to the form.

And the couple has between $200,000 and $500,000 squirreled away in 529 college savings plans for their daughters Malia and Sasha. That's up considerably since the president took office. In 2008, the Obamas reported between $50,000 and $100,000 in such savings.

Much of the Obamas' wealth comes from President Obama's best-selling books "Dreams from my Father" and "Audacity of Hope."

Last year, the Obamas earned at least $1.1 million in royalties from books. On their 2010 tax returns, they reported an adjusted gross income of $1,728,096.

But their book royalties have dropped from 2009, when they raked in more than $5 million in royalties.

The president's children's book, "Of Thee I Sing," published last November, earned him a $134,000 advance. He is donating that money and all proceeds from the book to the nonprofit Fisher House Foundation for a scholarship for children of fallen and disabled soldiers.

Obama's annual salary as president in 2010 was $395,188.

Michelle Obama received $10,000 from a trust called the Henry G. Freeman Jr. Pin Money Fund set up for first ladies, who don't draw a salary. The fund was set up in 1917 to augment presidential salaries.

soundoff (4 Responses)
  1. John

    The leader of the party of the middle class – ya right. Just another out of touch, rich politician. Wasn't there a movie where the campaign slogan was "none of the above"? That could be my vote in 2012. The party of No su(ks, the currenty party of yes (to all social programs and anything that takes our money) is even worse.

    May 18, 2011 at 7:00 am |
  2. Abe

    I am waiting for nasty statements from the right wing extrimists (aka teabagers / former kuklan members)

    May 18, 2011 at 11:32 am |
  3. Howard

    Let's REDISTRIBUTE a few million dollars of Obama's fortune.

    ... and, what about the Obamacare waivers Obama, Pelosi, and Reid,
    are giving out to their supporters and political cronies ???


    May 18, 2011 at 1:30 pm |
  4. Melinda

    Is Michelle Obama gonna take trips that cost the tax payers forever? Is she using this as a "goodwill" excuse??
    If the Obamas have between $2 and $11 million dollars why can't they pay for air fare and leave some of their entourage at home?

    June 3, 2011 at 3:00 pm |