IIRC, Obama is more white than anything else. - 50% white, 44% Arabic, 6% Black. As for the 'one drop rule' - that was eliminated years ago for racial consideration, and something like 15% or more of a given race is needed to make one a '[RACE]-American'.
But that doesn't matter. What does is how he handles the office he occupies. As far as I'm concerned, the answer to that is "terribly".