Based on our research, the Obamas are actually worth less than they were last May, when Barack Obamapreviously filed.
s to be expected for the nation’s top politico and his wife, the vast majority of the Obamas’ fortune these days is held in plain vanilla U.S. treasurys, worth about $3.4 million. We figure he has $2.4 million in notes and $1 million in T-bills, lower than the $5.2 million in treasurys estimated off the May 16, 2011 disclosures, due to a drop in the value of their T-bills (T-bills were previously estimated in higher range on the disclosure form and have dropped). The Obamas also have nearly three quarters of a million in cash (this position moved up a bracket), $625,000 in mutual funds and
ETFs, including about $300,000 in college funds for their girls, as well as a $90,000 in a State of Illinois pension fund. The President’s hefty book royalties from “The Audacity of Hope” and “Dreams From My Father,” a big source of his wealth, are decreasing at a faster rate than we had estimated. In 2009, Obama’s book sales peaked and he grossed nearly $5.7 million, according to his income tax statement; by 2010, gross book revenues had dropped to $1.6 million. This year the amount he’s taking home in book sales is even lower: between $150,000 and $1.1 million, according to Tuesday’s disclosure report. This figure is lower in part because Obama is giving away much of his new book money (after taxes), including a $133,000 advance and earnings of between $100,000 and $1 million (just disclosed on his latest financial form) for his third book, “Of Thee I Sing: A Letter To My Daughters,” published November 2010. Proceeds from that project are going to the Fisher House Foundation for scholarships for children of fallen and disabled soldiers.
One of the couple’s most valuable assets is their 6,200-square-foot, 6-bathroom, 3-fireplace home in Hyde Park, on the South Side of
Chicago. The property was recently listed in public documents with a value at $1.65 million, same as what the Obamas paid for it back in 2005. The financial disclosure released Tuesday reveals a mortgage against the house of between $500,000 and $1,000,000.
All in all, that brings the Obamas up to nearly $6 million, not too bad for a pair of Harvard
Law School grads who skipped the corporate track to become a community activist and a hospital communications director.
Here’s an approximated summary of where the Obamas hold their wealth:
Cash: $660,000
Mutual funds/ETFs: $625,000
Pension: $90,000
Treasuries: $3.4 million
Real estate: $900,000
TOTAL: $5.7 million