Obama's Net Worth Drops Dramatically in Three Years

It seems even the president isn't immune to the national financial collapse, as recent reports indicate Barack and Michelle Obama saw their net worth cut in half since 2010.

In 2010, two years after he took office, the couple had assets between $1.8 million and $12 million. Now, their net worth is between $1.8 million and $6.8 million.

It is hard to tell if the Obamas saw their net worth drop as the ranges cover a wide amount, but they do show that he lost some money.

Their largest asset was Treasury notes worth $1 million to $5 million. They also had a checking account with JPMorgan Chase worth between $250,001 and $500,000.

He made money from his three books, ranging from $250,000 and $2.1 million. Those books included: Dreams From My Father, The Audacity of Hope and a children's book Of Thee I Sing: A Letter to My Daughters.

Vice President Joe Biden and his wife Jill are worse off, with assets between $120,000 and $500,000, mostly in investment accounts and life insurance policies.

The financial disclosure of the Obama's net worth was contained in an eight-page report and signed by Obama on Tuesday. It was released by the White House on Wednesday. 

It comes as Obama is under pressure for his administration's response to the terrorist attack in September on a diplomatic mission in Benghazi.

Despite seeing his net worth drop, he was sure to store away between $200,000 and $400,000 for Malia and Sasha's college fund.

Sources: Inquisitr,Yahoo


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