What's in Obama's portfolio?

What's in Obama's portfolio?
President Barack Obama's success as an author continued to add to his wealth last year as he and first lady Michelle Obama reported having assets of between $2.3 million and $7.7 million.
MAY 16, 2010
By  Bloomberg
President Barack Obama's success as an author continued to add to his wealth last year as he and first lady Michelle Obama reported having assets of between $2.3 million and $7.7 million. The president's assets, as set out in federal financial disclosure forms released yesterday, include between $1 million and $5 million in U.S. Treasury bills and as much as $1 million in Treasury notes. He also reported having between $250,001 and $500,000 in a checking account at JPMorgan Chase & Co. The Obamas have between $100,001 and $250,000 in each of two college savings plan accounts for their daughters. The forms give amounts in ranges rather than specific amounts. The Obamas listed no liabilities. His disclosure for 2008 listed assets of as much as $5.9 million. The most valuable gift on the disclosure report was the family pet, a Portuguese water dog named Bo. A present from the late Senator Edward Kennedy, Bo was given a value of $1,600. The only other gift was the diploma and medal he received for winning the Nobel Peace Prize, with a value “not readily ascertainable.” Obama gave directly to charity the $1.4 million that went with the award. The president's tax return for 2009, released April 15, showed he had total income of $5.6 million, most of it from royalties from his books “Dreams from My Father” and “The Audacity of Hope.” The Obamas paid $1.8 million in taxes. Vice President Joe Biden and his wife, Jill Biden, reported assets of $155,000 to $679,000 in mutual funds, life insurance and certificates of deposit. They reported debts of between $190,000 and $465,000, including a home equity line of credit of between $100,001 and $250,000. Biden reported receiving as a gift a first edition copy of James Joyce's “Anna Livia Plurabelle,” valued at $3,500

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.