White House: Obamas' assets $2.6M to $8.3M

WASHINGTON -- President Barack Obama and first lady Michelle Obama hold assets worth between nearly $2.6 million and nearly $8.3 million, according to financial disclosure reports released yesterday by the White House.

The documents show the couple's assets for last year. The first family's assets were valued between $1.8 million and nearly $12 million in 2010.

Obama released the annual report in the middle of a presidential campaign that has brought attention to the wealth of his Republican opponent, Mitt Romney. The former Massachusetts governor is worth $190 million to $250 million, with much of his money coming from investments.

Romney has amended his 2010 financial disclosures during this primary season, and also caved in to pressure to release his tax returns. The returns showed a series of offshore holdings that weren't in the former Massachusetts governor's 2010 financial disclosure, including a Swiss bank account that has received criticism from the Obama campaign.

Obama's disclosure forms show he holds between $500,000 and $1 million in a JPMorgan Chase checking account.

The disclosure form requires public officials to list their assets in broad ranges, for example, between $1 million and $5 million, making it difficult to determine a precise net worth.

The president and first lady's asset mix includes Treasury notes valued at between $1 million and $5 million, Treasury bills worth $500,000 and $1 million, along with retirement and checking accounts.

Royalties from Obama's books, "Dreams From My Father," "The Audacity of Hope" and "Of Thee I Sing," totaled between $250,000 and $2.1 million.

The Obamas have a 30-year mortgage on their Chicago home worth between $500,000 and $1 million with an interest rate of 5.625 percent.