In 2011, New York magazine estimated that President Obama was worth about $7.3 million, while Mitt Romney's wealth has been estimated at $250 million.

However, Rep. Michele Bachmann is telling voters to not vote for President Obama because of his wealth, reports RawStory.com (video below).

Bahchmann said: “Well, President Obama is extremely wealthy. He and his wife have been wealthy for a number of years, and so I think that’s really the issue. Obama is wealthy, what do, or, what does he understand about the common man right now?”

“And I think what people care about is not hating someone for what their assets are, the American people don’t hate President Obama because he’s a very wealthy individual.”

“What they care about is how their lives are, would their lives be better? And I think it’s very clear under the Romney-Ryan ticket the average Americans’ lives will be much better, they’ll have a lot more money to spend in the way that they want, and they’ll also have a much more secure future for their children.”

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