US President Barack Obama's estimated assets for the last year are valued at $8 million, his latest annual financial disclosure forms show and he has up to $1 million in the JPMorgan Chase, the bank which is under FBI investigation.
The FBI investigation into JPMorgan Chase started after the bank last week revealed that it lost some $billion in a risky hedge.
In an interview which was telecast on Tuesday, Obama identified it as one of the best managed banks.
The annual financial disclosure also revealed that Obama has a 30-year housing loan of more than $500,000 on his Chicago home at an interest rate of 5.625 per cent, which is considered to be a bit high given the current rates.
He can easily refinance his home mortgage to a rate as low as four per cent.
It is understood that Obama has repaid a large chunk of his housing loan.
The Chicago Tribune reported in 2009 the mortgage originally was for $1.32 million, but the disclosure form reports the mortgage as between $500,000 and $1 million.
According to Politico, in the last year's disclosure form, Obama had no more than $250,000 in JPMorgan Chase account.
The Obamas in 2011 held total assets ranging from $2,566,000 to $8,265,000.
Obama also earns a substantial income from the sale of his books, the disclosures reveal.
The forms also show that the Obamas made from $250,000 to $ 2.1 million in book royalties in 2011.
"Dreams from My Father" and the children's book "Of Thee I Sing" each accounted for $100,000 to $1 million and "The Audacity of Hope" accounted for $50,000 to $100,000.
This year Obama reported no gifts.
In the previous year's forms, Obama had disclosed receiving several gifts such as Bo, the $1,600 Portuguese water dog given to the first family by the late Senator Ted Kennedy and the $1.4 million cash prize that accompanied Obama's 2009 Nobel Peace Prize.
The money was donated to charity.
As compared to Obama, the US Vice-President Joe Biden appears to be relative pauper.
Biden in his financial disclosure form reported assets of at least $239,000 and at least $175,000 in liabilities, excluding his mortgage.
Biden's mortgage also exceeds $500,000, but has a lower interest rate of 4.625 per cent.
According to his financial disclosure form, Biden has from $2,000 to USD 30,000 in two savings accounts and USD 2,000 to USD 32,000 in four checking accounts.
He also had income of from $15,000 to $50,000 from a residential rental property in Wilmington, Delaware.