President Obama discloses up to $8.3 million in assets, as much as $1 million at JPMorgan Chase
President Obama’s total assets in 2011 were as high as $8.3 million in 2011, according to an annual financial disclosure filing released by the White House Tuesday.
Much of the president’s wealth is in the form of US Treasury bills and notes, which total between $1.6 million and $6.25 million. Federal law requires high-ranking government officials to report their financial interests to the Office of Government Ethics, but the officials must only provide income and asset ranges.
The Obamas also have $500,001 to $1 million in a checking account at JPMorgan Chase, the bank currently under FBI scrutiny for a $2 billion trading loss.
In some cases, the financial disclosure revealed less than the tax return Obama released last month. Tuesday’s document showed the president made anywhere from $250,000 to $2.1 million in book royalties in 2011; the earlier tax document put the total at $488,000.
The president reported no gifts last year. In 2009, he disclosed the $1.4 million cash prize that came with his Nobel Peace Prize -- donated to charity -- and the $1,600 Portuguese water dog given to his family by the late Massachusetts Senator Edward M. Kennedy.
Vice President Joe Biden also filed a financial disclosure form, reporting assets between $233,000 and $776,000. He disclosed a gift of an $800 watch from a jeweler in Finland named Keijo Paajanen.Callum Borchers can be reached at email@example.com. Follow him on Twitter @callumborchers.