Obama's wealth is at least $3.8 million

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WASHINGTON, May 16 (UPI) -- President Barack Obama's wealth reaches upward of $3.8 million and possibly much higher, financial disclosure reports issued by the White House Monday show.

The forms, which only provide wide ranges for each category, show most of his assets are tied up in treasury notes and bills -- $1 million to $5 million each, with another $1 million to $5 million in book royalties. Obama and his wife, Michelle, also have at least hundreds of thousands of dollars more tucked away in retirement funds and education funds for their two daughters.

At the lower level, Obama probably is worth $3.8 million and at the upper end would have as much as $16.8 million, the reports indicate.

Vice President Joe Biden is not a millionaire, his reports indicate.

The reports are required to be made public under the Ethics in Government Act of 1978.