Obama Has Less Than $1,001 In Savings Account

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Obama Has Less Than $1,001 In Savings Account

The most powerful man in the free world has less than $1,001 in cash saved up.

That's according to President Barack Obama's annual financial disclosure report that was released Friday. The only savings accounts listed under Obama is a "JP Morgan Chase Private Client Asset Mgmt Savings Account."

But while that account is surprisingly low in funds, it's probably because he and the First Lady have put most of their earnings toward their daughters' education. The first parents put away between $200,000 and $400,000 for Sasha and Malia to go to college.

Not to mention the family has more than $1 million in Treasury bills.

According to financial disclosure reports, President Obama has an estimated net worth of nearly $7 million.

In 2007, he was worth $1.3 million. That's a 438% bump from when he first ran for office.

But they aren't the top-earning White House couple. The Clintons have done pretty well for themselves. Bill is considered the wealthiest president and he and Hillary's combined net worth reached around $55 million, according to 24/7 Wall Street.

Guess it helps when you have a $225,000 speaking fee...

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