Does Barack Obama really only have $1,001 in savings while Hillary and Bill Clinton earned $30million in a year?

TL;DR: No.

Financial disclosure filings in the US have revealed that Hillary and Bill Clinton earned $25million in speaking fees and $5million from her memoirs since January last year.

The Clintons' earnings - which put them in the top 0.1 per cent of earners in the US - have been accompanied by headlines suggesting that in comparison the Obamas have only $1,001 in savings.

But that is only true in a purely technical sense; Barack and Michelle Obama in fact have a net worth of up to $6.9million.

The $1,001 figure relates to a savings account, while the Obamas actually have bank accounts with between $51,002 and $115,000 in them, up to $400,000 saved separately for teenage daughters Malia and Sasha to go to university, and retirement accounts worth at least $350,003. President Obama also earned between $45,000 and $150,000 in royalties from his three books over the last year.

So, now we know, and knowing is half the battle.

The Clintons' money comes from more than 100 speeches delivered since January 2014.

Disclosure forms are a legal requirement for public officials in the US but the value of assets can be estimated.

Additional reporting: Reuters

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