Joe Biden net worth
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What is Joe Biden’s net worth and salary?
Joe Biden is an American politician with a net worth of 9 million U.S. dollars. Joe served as a Senator from Delaware from 1973 to 2009. He then served as the 47th Vice President of the United States under President Barack Obama from 2009 to 2017. In 2020, he became the Democratic candidate in the US presidential election, competing with Donald for the trump card. In November 2020, he defeated Donald Trump with a landslide victory (election and general election) and became the 46th President of the United States.
President’s salary
According to Article 3 of the United States Code, as the President of the United States, Joe Biden’s basic salary is $400,000. He is also entitled to an annual expense account of US$50,000, a tax-free travel account of US$100,000, and an annual entertainment allowance of US$19,000. Before moving into the White House, the Bidens received $100,000 for redecorating.
Joe Biden Wealth Details
At the end of the vice president’s term, Joe Biden’s last financial disclosure indicated that his net worth was $1.5 million. For many years before becoming vice president, he often referred to himself as one of the “poorest” members of Congress, or “middle class Joe”, with a net worth of less than $500,000. In the years after leaving the White House, his main income came from speech and book royalties, which peaked in 2017 with an income of 11 million U.S. dollars. Between 2016 and 2019 alone, Joe and Jill’s income was less than $17 million.
early life
Joseph Robinette Biden Jr. was born on November 20, 1942 in Scranton, Pennsylvania. Growing up with three siblings in a Catholic family, Joe’s family was in trouble when he was young. In the 1950s, his father could not find a job during the economic recession in Scranton. In the end, the family had to move to Delaware, where Joe’s father became a used car salesman.
During his high school years, Joe Biden joined the football team and was elected class president. When he was studying for a double degree in history and political science at the University of Delaware, he also participated in college football games. Graduated in 1965 with a bachelor’s degree.
Joe transferred to Syracuse University Law School, where he obtained a law degree in 1968. During this period, he was accused of plagiarism. As a student, Biden was able to postpone his draft during the Vietnam era. When he graduated and qualified again, even though he was an athlete his whole life, Joe received a medical postponement due to asthma.
Profession
After graduating from university, Biden served as a legal assistant before serving as a public defender and founding his own law firm. He first participated in politics in 1969, when he held a seat in the new Castle County Council, won the election and immediately targeted the attraction in the U.S. Senate.
Despite his obvious disadvantage, he won the 1972 U.S. Senate election in Delaware. At the age of thirty, he was one of the youngest senators in American history. After serving for a long time in the U.S. Senate, Joe set his sights on the ultimate award: the presidency. In 1987, he ran for the Democratic nomination, but ran into trouble when he was accused of plagiarizing speeches. Further controversy eventually led to Biden’s withdrawal from the race.
In 2008, Biden tried to win the Democratic nomination again. Although his campaign had many highlights, Biden’s comments on Barack Obama and the Indian people proved to be major mistakes. He has also encountered difficulties in raising funds, and has never been a strong competitor to Hillary Clinton or Obama. But in the end, Barack Obama appointed him vice president. In 2008, he gave up his position in the Senate and served in the Obama administration. In 2020, Joe Biden will become the Democratic Party’s candidate for President of the United States.
(Photo: Drew Angerer/Getty Images)
Speech income
After leaving the White House, Joe and Jill earned at least $15 million in speeches and book deals. Biden has become a popular public speaker, and a speech can often earn hundreds of thousands of dollars. For example, in 2018, he made $190,000 in a lecture at Drew University in New Jersey. From 2017 to 2018, he gave a total of 40 speeches, each time he got a 5-digit or 6-digit payday.
Book transaction revenue
After Biden left the vice president’s office, he and his wife signed a three-book agreement worth $10 million.After writing Promise me dad (A book about the death of his son) Joe promotes his book through tours. He stopped more than 40 times. The basic fare is US$25, while the VIP fare (including a photo with Biden) is US$450.
salary
According to Joe’s tax return, his income has fluctuated over the years. He has published his tax documents and the earliest record can be traced back to 1998. In this year, he made a total of $215,432. His income remained at around US$200,000 until 2009, due to social security and pension income, his income increased by US$55,000 per year.
In 2016, when Joe Biden was about to step down as Vice President, his annual salary was about $400,000. By 2017, this number had risen sharply to 11 million U.S. dollars. In 2018, the situation slowed slightly, and Biden made a total of US$4.6 million.
Gil Biden’s salary
Gil Biden’s annual salary as a teacher at Northern Virginia Community College is $100,000.
Tax return
According to Joe’s tax return, the Bidens’ income in recent years is as follows:
2016: US$400,000
2017: US$11 million
2018: US$4.6 million
2019: US$944,737
(Photo by Chip Somodevilla/Getty Images)
debt
The financial disclosure statement reveals Biden’s struggles with debt issues over the years. In those years, Biden’s only financial asset was his home in Delaware. He has applied for multiple loans for his house. From 1983 to 2015, Biden borrowed at the cash value of its life insurance policy, with a maximum value of $50,000. The disclosure form released in 2015 shows that he mortgaged his home in 2013 and owed between US$500,000 and US$1 million in real estate.
rental income
Federal financial disclosures also show that during Biden’s tenure as vice president, Joe and Jill rented out their hotel to members of the Secret Service, earning $2,200 a month. During this period, they earned a total of approximately $170,000 in rental income.
real estate
Joe’s main residence is a residence near Greenville, Wilmington, Delaware. The house overlooks a man-made lake that was originally built by wealthy members of the DuPont family. Joe and Jill bought their house in 1997 for 350,000 U.S. dollars. Similar houses in the area were recently sold for a little over US$2 million. In 2017, Joe and Jill bought a six-bedroom holiday home in Rehoboth Beach, Delaware, for $2.74 million. Between 2018 and 2019, the couple rented a $4 million mansion in McLean, Virginia, paying $20,000 a month.
