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Obama lists assets worth up to $8.9m

Published on May 16, 2014 6:31 AM
President Barack Obama (right) and First Lady Michelle Obama walk across the South Lawn of the White House after arriving by Marine One, in Washington DC, USA, on 15 May 2014. -- PHOTO: EPA

WASHINGTON (REUTERS) - US President Barack Obama lists assets worth between US$1.95 million and US$7.15 million (S$8.9 million), of which US$1 million to US$5 million were in Treasury notes, according to financial disclosure forms released on Thursday.

Mr Obama and his wife, Michelle, in April reported income of US$503,183 last year. As president, Mr Obama is entitled to a US$400,000 salary.

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

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

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