Joe Biden’s Net Worth – How Rich is the 46th President?

US President Joe Biden leads the world’s most powerful and largest economy, the United States of America. Joe Biden is a politician in the United States who now serves as the country’s 46th president. From 1973 to 2009, he was also a senator. Joe Biden served as Obama’s vice president from 2009 to 2017. President Joe Biden was elected in 2020 after defeating then-candidate Donald Trump in the Republican primary.

Last year, Joe Biden celebrated his first year in office, which has been marked by major concerns such as the COVID-19 pandemic, financial troubles, rising inflation, obstacles to his infrastructure construction programs, climate change, and rebuilding “the soul of America.”

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Furthermore, the approval rating of the 79-year-old leader of a powerhouse state continues to be in the negative direction. Biden received only 43 percent of the public’s support in a Reuters survey in January, while 52 percent disapproved of his position as president.

In spite of his flaws and the Trump administration’s efforts to divide families, Biden managed to accomplish important goals, such as re-entering the United States into the Paris Climate Agreement and fighting to unite immigrants who had been separated during Trump’s presidency. He also overturned restrictions on openly transgender people serving in the military.

Joe Biden’s Net Worth and Earnings

In 2001, while Ashley Biden was a student at Tulane University, her father, Joe Biden, was personally liable for more than $700,000 in student loan debt.

When it comes to money, Joe Biden, the former Delaware student’s career in politics was the key to making him a multi-millionaire. Speaking engagements and book sales brought in millions of dollars in fees and royalties for Biden in 2017.

joe biden net worth
Joe Biden net worth

After generating $4.6 million in 2018, he earned $1 million in 2019 and $630,000 in 2020, respectively. Biden and his wife, Dr. Jill Biden, made $17.3 million, according to Forbes.

Biden is expected to have a net worth of $8 to $9 million in 2022, owing to book sales, speaking engagements, and his public persona. He is paid a salary of $400,00 a year as the President of the United States.

Only a fraction of Biden’s nearly $17 million in total earnings throughout the course of his career in politics had been reinvested into his personal wealth. The president reportedly paid $7 million in taxes, donated $1.3 million to charity, paid $80,000 in mortgage interest, and paid $170,000 in staff costs, according to estimates.

Part of their income was used to purchase a 4,800-square-foot summer home in Rehoboth Beach, Delaware, for $2.7 million. According to Yahoo! Finance, they also own a multi-million dollar family house in Delaware.

According to Forbes, Vice President Joe Biden listed cash and retirement funds worth between $1.2 million and $2.9 million in his most recent financial disclosure report.

It’s possible that his $17.3 million in profits are only worth $5.5 million after deducting his $11.8 million in recognized expenses, such as income tax, charitable contributions, and housing expenses.

He has cash and retirement accounts totaling $1.2 million to 2.9 million, significantly less than the $5.5 million, which implies that at least $2.6 million was spent somewhere else.   Gifts to his loved ones could be one option.

Joe Biden’s Early Life and Political Career

On November 20, 1942, Joseph Robinette Biden Jr. was born in Scranton, Pennsylvania, into a middle-class family. Joe’s father, Joseph Robinette Biden Sr. worked as a used car salesman and made barely enough money to support his wife, Catherine “Jean” Biden, and their four children, including Joe’s older sister and two younger brothers. He and his siblings grew up in the Delaware towns of Claymont and Mayfield.

In 1968, he earned his law degree from Syracuse University College of Law.

Before starting a practice of his own, Joe worked as a law clerk for a few years after graduating from college. For the New Castle County Council seat in 1969, he ran and won resoundingly. From here, he set his sights on the United States Senate.

Then in 1972, Biden was elected to the US Senate in Delaware, becoming the state’s first youngest senator.  Joe continued to fight for the Democratic nomination with the goal of becoming the next president of the United States. However, things did not go well for him. He was accused of copying a speech verbatim. He opted to reenter the contest after withdrawing due to the volume of charges leveled against him.

For the second time in his political career, he sought the Democratic candidacy in 2008. The problem was a lack of funds. Hilary Clinton and Barack Obama were among his formidable rivals. In the end, Barack Obama prevailed and named Vice President Joe Biden as his running mate. Joe resigned from the US Senate to join Obama’s cabinet because of his new role.

Finally, in 2020, Joe Biden emerged as the Democratic Party’s front-runner and faced up against Donald Trump, who was in office at the time. With an overwhelming majority, he overcame Trump’s accusation of cheating to win the election.

Most Important Facts About Joe Biden

  • Consistently ranked among the Senate’s poorest members.
  • After leaving the White House in 2016, he stated that he had a net worth of $1.5 million.
  • As a result of book advances, Joe earned $11 million in 2017.
  • In 2017, he made $4.6 million dollars.
  • As a college professor, Jill Biden makes $100,000 each year.
  • Per paid speech, Joe makes between $100,000 and $200,000.

Conclusion

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