The US President used to describe himself as the “poorest man in Congress” back then. In fact, some know him as “Middle-class Joe.” But you will be surprised to know how wealthy Joe Biden is. When he began his presidential campaign in January 2020, Joe released his financial information. We dig into these financial documents to find out his net worth. Keep reading to find out more about how he made his wealth.
He was a senator for 36 years before becoming Vice President.
Biden served as a senator between 1973 and 2009. Throughout this period, his salary increased from $42,500 a year to $174,000 a year.
When serving as a vice President, his salary rose to $230,000 every year.
He’s made a fortune as an author and speaker.
Since leaving office as Vice President in 2017, Joe has made a lot of income as an author.
In November 2009, his net worth was below $30,000. Ten years later, in 2019, when he released his financial disclosures, it was revealed that he and his wife, Jill, had made at least $15 million between 2017 and 2018.
While he reported an adjusted gross income of about $11 million, Jilli reported $4.6 for the same.
The vast amount of this adjustment came from their book deals with Flatiron Books.
Their speaking engagements also earned a share of their income. It is reported that Joe’s basic speaking fee was $100,000. However, the fee ranged between $40,000 and $190,000.
His financial disclosures also revealed that he earned $540,000 working as a professor in the University of Pennsylvania’s Penn Biden Center for Diplomacy and Global Engagement.
He now earns a $400,000 presidential salary every year.
In addition to this amount, he receives a $50,000 expense allowance. His wife also noted that she would continue to teach at a community school.
Biden has invested the bulk of his wealth in real estate.
As Forbes reports, Biden’s two homes in Delaware have a combined worth of $4 million. Forbes also notes that he has cash investments worth an additional $4 million and $1 million in federal pension.
What is his exact net worth?
According to Forbes, Biden and his wife Jill have a combined net worth of $9 million.
Some Little Known Facts About Biden
- At 77, he was the oldest person to take oath as US President.
- He wrote and championed the Violence Against Women Act.
- In December 1972, his wife Neilia and daughter Amy, 1, died in a road accident. He took oath as a senator the next year at his son’s hospital bedside.
- Biden is the second Catholic president in America after J.F Kennedy.
- He loves ice creams, with the chocolate chip being his favorite flavor.
- He overcame a childhood stutter that made him bullied in grade school. He revealed this in 2008 while speaking at the American Institute for Stuttering.
- He was a leading scorer in his 1960’s undefeated high school football team.
- Joe ran for presidency three times. His first attempt was in 1987, before dropping his bid. He tried again in 2008 but failed to get the Democratic nomination which he finished 5th.
- His third attempt is the latest, with Kamala Harris, her running mate, becoming the first-ever female serving vice president in America.
- He has two German Shepherds, Champ and Major. While campaigning, he urged Americans to “put dogs back in the White House.”
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