Obamas' net worth as much as US$6.9m, US filing shows

Washington

PRESIDENT Barack Obama and his wife, Michelle, own assets worth US$1.9 million to US$6.9 million, according to financial disclosures. The Obamas, employing a cautious investment strategy while in the White House, hold much of their wealth - at least US$1.25 million - in Treasury notes and bills, according to disclosures last Friday. They also have retirement savings in Vanguard index funds, plus checking accounts at JPMorgan Chase & Co and Northern Trust Corp.

Their wealth, if at the top end of the range, is almost enough to place them in the top one per cent of US households. Their net worth is little changed from last year, when their assets totalled US$2 million to US$7.1 million.