Obama is a millionaire, records show

Washington DC: President Obama is a millionaire with assets that could reach as much as $12 million, mostly from proceeds from his two best-selling books, according to financial disclosure forms made public by the White House on Monday.

The disclosures require only that Mr. Obama and his wife, Michelle, list the value of their assets in wide ranges. For example, the president lists royalties from his memoir "Dreams From My Father" as between $1 million and $5 million.

Mr Obama's financial disclosures have remained largely the same since he took office in 2009.