Camelia Pasandaran – President Susilo Bambang Yudhoyono announced the value of his personal assets at the State Palace on Friday morning, stating that his total wealth was just under $1.1 million, making him poorer than Vice President Boediono and three of his ministers.

"The total of my wealth on Nov. 23, 2009 was Rp 7,616,270,204 and US $269,730," President Yudhoyono said at his office during a press conference. "On my previous report in May 2009, my wealth was Rp 6,848,049,611 and US $246,389."

The president's assets are comprised of immobilized property worth Rp 2.4 billion, transportation vehicles valued at Rp 502 million and mobilized wealth, such as his gem and art collections, worth Rp 851 million, as well as other valuable documents worth Rp 3.8 billion. He has no debt.

According to the 1999 Law, state officials are required to report their wealth to the Corruption Eradication Commission (KPK) and announce it to the public.

"It is the obligation of all state officials to report, and be willing to be verified and to announce their wealth before and after they gain their posts," Tumpak Hatorangan Panggabean, ad hoc chairperson of KPK, said at the president's office.

Meanwhile, Boediono's wealth in September 2009 was Rp 28 billion and $16,000. On his previous report in April 2009 his total wealth was Rp 22 billion and $15,000. Boediono's transportation vehicles are also worth more than Yudhoyono's, with a value of Rp 940 million.

Three of Yudhoyono's ministers – Coordinating Minister for Political, Legal and Security Affairs Djoko Suyanto, State Minister for Cooperatives and Small and Medium Enterprises Syarif Hasan and State Minister for Maritime and Fisheries Fadel Muhammad – had greater personal wealth than the president.

Djoko Suyanto has assets worth Rp 17.2 billion plus $40,000, Fadel's wealth was Rp 119.8 billion and $235,652, a decrease of Rp 1.5 billion from his 2006 report, while Syarif Hasan's wealth was Rp 17.5 billion and $180,000.

Some of the ministers have previously announced their wealth, while some announced it on Friday and others will release the information soon. "This (announcement) is part of good political traditions and is expected by our people," Yudhoyono said. "The KPK chairman and I agree to require all state officials, including governors, district and municipal heads, to also announce their wealth to the people. This is part of transparency and accountability to the public."