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| Obama worth millions due to book |
| Obama worth millions due to book royalties
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| UNITED STATES OF AMERICA
, 17-May-2011
6:58:6 AM |
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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
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