Obama lists assets worth up to $8.9m

WASHINGTON - 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.

Vice-President Joe Biden reported assets of between about US$230,000 and US$850,000. He is entitled to a US$230,700 salary.

Mr Biden listed outside income of between about US$30,000 and US$105,000, principally from rental property and book royalties.

Mr Biden's liabilities include a mortgage of between US$500,000 and US$1 million at a 3.375 per cent interest rate and a home equity line of credit of between US$250,000 and US$500,000.

Mr Biden split a US$50,000 award from the Pennsylvania Society in equal parts, with contributions to the Pennsylvania Coalition Against Domestic Violence and Women Against Abuse in Philadelphia.