A closer look at Barack Obama’s assets

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IOL pic feb3 barack obama file Reuters United States President Barack Obama. File picture: Jason Reed

Washington - President Barack Obama lists assets worth between $1.95 million and $7.15 million, of which $1 million to $5 million were in Treasury notes, according to financial disclosure forms released on Thursday.

Obama and his wife, Michelle, in April reported income of $503 183 last year.

As president, Obama is entitled to a $400 000 salary.

In financial disclosure forms released on Thursday, the president reported outside income of between about $180 000 and $482 000 from book royalties and investments.

The president reported a 30-year mortgage of between $500 000 and $1 million on his Chicago residence at a 5.625 percent interest rate. He has retirement plans from the Illinois General Assembly and the University of Chicago.

Vice-President Joe Biden reported assets of between about $230 000 and $850 000. He is entitled to a $230 700 salary.

Biden listed outside income of between about $30 000 and $105 000, principally from rental property and book royalties.

Biden's liabilities include a mortgage of between $500 000 and $1 million at a 3.375 percent interest rate and a home equity line of credit of between $250 000 and $500 000.

Biden split a $50 000 award from the Pennsylvania Society in equal parts, with contributions to the Pennsylvania Coalition Against Domestic Violence and Women Against Abuse in Philadelphia. - Reuters

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