Barack Obama estimated to be worth $12m

Barack Obama's official income disclosure puts him between $4 million and $7m, but one celebrity finance site says his worth is as high as $12 million. Photo / AP

Barack Obama is estimated to be worth US$12 million ($17.1m), according to a celebrity finance website.

Obama's net worth soared after the publication of his second book "The Audacity of Hope" was released in 2006, raising his income in 2007 to US$4m, Celebrity Net Worth reported.

While his salary for his job as President of the United States is US$400,000, his official release of financial information for this year showed his net worth was between US$4m and US$7m. Celebrity Net Worth says in reality the president could be worth up to $12m.

The disclosure showed he has mutual funds with JPMorgan and Vanguard, US Treasury bills and notes valued between US$500,000 and US$1m, and has college funds for his daughters Malia and Sasha between US$200,000 and US$450,000.

According to the disclosure, Obama received royalties between $35,000 and $115,000 on his three books this year.

First Lady Michelle Obama is estimated to be worth US$11.5m by Celebrity Net Worth. She has created charitable networks to help children and women, and also published three books.