The Net Worth of Joe Biden: A Closer Look at the Finances of the 46th President of the United States
Joe Biden, the 46th President of the United States, has had a long and successful career in politics. Throughout his years of public service, he has amassed a considerable net worth. In this article, we will explore the financial background of President Biden and shed light on his wealth.
Joe Biden’s Early Life and Career
Joe Biden was born on November 20, 1942, in Scranton, Pennsylvania. He attended the University of Delaware and Syracuse University College of Law, where he earned his law degree in 1968. After completing his education, Biden embarked on a career in politics that would span several decades.
Biden’s political career began in 1970 when he was elected to the New Castle County Council in Delaware. He later served as a U.S. Senator from Delaware for six terms, from 1973 to 2009. In 2009, Biden became the Vice President of the United States under President Barack Obama, serving two terms until 2017.
Income and Earnings
Throughout his career, Biden has earned a substantial income from various sources. As a U.S. Senator, he received a salary, which increased over the years. In 2008, his final year as a Senator, his salary was approximately $169,300.
After leaving the Vice Presidency, Biden and his wife, Dr. Jill Biden, signed a book deal with Flatiron Books. Their memoir, titled “Promise Me, Dad: A Year of Hope, Hardship, and Purpose,” was published in 2017 and became a bestseller. The book deal reportedly earned them an advance of $8 million.
In addition to his book deal, Biden has also earned income from speaking engagements. According to financial disclosures, he received significant payments for speeches given after leaving office. These speaking fees, along with book royalties, have contributed to his overall net worth.
Real Estate and Assets
Like many politicians, Biden has invested in real estate over the years. One of his notable properties is a six-bedroom home in Wilmington, Delaware, which he purchased in 1996 for $350,000. This property has been his primary residence throughout his political career.
In 2017, Biden and his wife purchased a vacation home in Rehoboth Beach, Delaware, for $2.7 million. The oceanfront property features several bedrooms and stunning views.
Biden also owns a rental property in Wilmington, which he purchased in 2017 for $215,000. This property provides additional income through rental payments.
Charitable Contributions and Taxes
Throughout his life, Biden has been involved in various charitable endeavors. In 2017, he and his wife launched the Biden Foundation, a nonprofit organization focused on issues such as education, military families, and cancer research.
When it comes to taxes, Biden has released his tax returns for several years, showcasing his compliance with tax laws. In 2020, he released his returns for the years 2016 to 2019, which revealed that he and his wife paid a significant amount in federal taxes.
The Bottom Line
Joe Biden’s net worth is estimated to be around $9 million. His income from political positions, book deals, and speaking engagements, along with his real estate investments, have contributed to his wealth. Additionally, his charitable contributions and tax compliance demonstrate his commitment to public service and financial transparency.
As the 46th President of the United States, Joe Biden continues to serve the country with dedication and integrity. While his net worth is noteworthy, it is important to remember that his true value lies in his leadership and the impact he has on the nation.
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