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President Obama And Wife Michelle Suffer Heavy Decrease In Net Worth
http://www.africaeagle.com/2013/05/president-obama-and-wife-michelle.html
The net worth of the Obamas is reported to have actually decreased last year, as President Barack Obama and First Lady Michelle Obama held assets last year that were worth between $1.8 million and $6.8 million, according to financial documents revealed yesterday.
The First Couple was valued between $2.6 million and $8.2 million in 2011 and between $1.8 million and $12 million in 2010.
While these are wide ranges, there are expectations of their net worth decreasing, but no real explanations.
This is about half of the worth of their reported assets in 2010.
A large portion of their money has gone to their daughters’ college funds, as they have put $200,000 to $400,000 away in tax-advantaged 529 college savings accounts.
The accounts are set up in order for their daughters, Malia, 14, and Sasha, 11, to go to top universities.
There was no explanation for the steady decline in the top estimate of the Obamas net wealth.
The couple doesn’t need to worry about their finances, however, as they own Treasury notes worth between $1 million and $5 million, while they have between $250,001 and $500,000 in a JPMorgan Chase checking account.
After his presidency concludes, both Barack and Michelle should see lots of money coming in for appearances and potentially book deals, as Barack is already a multi-time bestseller.
While these are wide ranges, there are expectations of their net worth decreasing, but no real explanations.
This is about half of the worth of their reported assets in 2010.
A large portion of their money has gone to their daughters’ college funds, as they have put $200,000 to $400,000 away in tax-advantaged 529 college savings accounts.
The accounts are set up in order for their daughters, Malia, 14, and Sasha, 11, to go to top universities.
There was no explanation for the steady decline in the top estimate of the Obamas net wealth.
The couple doesn’t need to worry about their finances, however, as they own Treasury notes worth between $1 million and $5 million, while they have between $250,001 and $500,000 in a JPMorgan Chase checking account.
After his presidency concludes, both Barack and Michelle should see lots of money coming in for appearances and potentially book deals, as Barack is already a multi-time bestseller.
