Washington, May 17: The White House has released the 2010 yearly financial disclosure forms of US President Barack Obama and Vice President Joe Biden, revealing that book royalties helped Obama earn millions of dollars.
Obama’s largest income stems from his memoir about his upbringing “Dreams from My Father” that earned between a million to five million dollars, while royalties from his book “Audacity of Hope” fell in the 100,001 dollars to a million dollar range, ABC News reports.
Both books were published before Obama became president.
The financial disclosure forms reveal Obama and his wife, Michelle, had some retirement savings accounts with the mutual fund company Vanguard and checking accounts at JP Morgan Chase and Northern Trust. They also own Treasury bills and have college savings accounts for their daughters Malia and Sasha.
In tax returns released in April, the Obamas reported an adjusted gross income of $1,728,000.
As far as Biden’s forms are concerned, his main assets are his rental property in Wilmington, Delaware, valued between 100,001 dollars and 250,000 dollars, while most of his other assets are in investment funds, checking accounts and savings — none individually worth over 15,000 dollars.
Biden, however, listed a series of liabilities, including a home equity line of credit valued between 100,001 dollars and 250,000 dollars.
-Agencies