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Joe Biden Net worth

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Joe Biden net worth

what is Joe Biden Net worth ?

Joe Biden is the president elect for the United states of America. in this article, we will be bringing to you is net worth and how much he will be earning as president.

Joseph Robinette Biden Jr. is an American politician and the president-elect of the United States. Having defeated incumbent Donald Trump in the 2020 United States presidential election, he will be inaugurated as the 46th president on January 20, 2021.

A member of the Democratic Party, Biden served as the 47th vice president from 2009 to 2017 and a United States senator for Delaware from 1973 to 2009.

Joe Biden net worth is $16.9 million making him a millionaire. Read on to find more information about Joe Biden net worth.

Joe Biden Biography

Joseph Robinette Biden Jr. was born November 20, 1942, at St. Mary’s Hospital in Scranton, Pennsylvania, to Catherine Eugenia “Jean” Biden (née Finnegan) and Joseph Robinette Biden Sr.

Biden’s father was initially wealthy but had suffered several financial setbacks by the time Biden was born; for several years the family lived with Biden’s maternal grandparents.

Scranton fell into economic decline during the 1950s and Biden’s father could not find steady work. Beginning in 1953, the family lived for several years in an apartment in Claymont, Delaware, then moved to a house in Wilmington, Delaware. 

Joe Biden Sr. later became a successful used car salesman, maintaining the family a middle-class lifestyle

At the Archmere Academy in Claymont, Biden was a standout halfback and wide receiver on the high school football team he also played baseball. A poor student but a natural leader, he was class president in his junior and senior years. He graduated in 1961.

At the University of Delaware in Newark, Biden briefly played freshman football and earned a Bachelor of Arts degree in 1965 with a double major in history and political science, and a minor in English.  He had a C average and was ranked 506th in his class of 688

Biden has a stutter, which has improved since his early twenties. He says he has reduced it by reciting poetry before a mirror, but it has been suggested that it affected his performance in the 2020 Democratic Party presidential debates

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Joe Biden net worth

The politician has a fortune of around 16.8million, according to estimations by Forbes.

He has earned his wealth through politics, books and property.

Joe first started earning a salary in law and practiced as a public defender in the 1960s.

He soon joined the political world when he was elected into a county council seat in Delaware, which he did alongside his law career.

In 1972, Joe made a full move to politics to become the junior US senator from Delaware.

By the time he was 30, the politician was the sixth youngest senator in US history.

This reportedly came with an annual salary of £32,500, the equivalent of more than £150,000 now.

Joe continued to work in the senate until 2009 and his salary grew to £129,000 by the time he left.

After leaving, he took on the role of the Vice President to Barack Obama.

He held the position from 2009 to 2017 and earned an impressive salary of £171,000.

As well as building his fortune from his career, Joe topped up his bank balance with his book Promises to Keep: On Life and Politics.

Family

In 1972, when he was 29, he became one of the youngest candidates ever elected to the Senate. The celebration didn’t last long. Just a few weeks after the election, Biden’s wife and baby daughter died in a car accident. Sons Beau and Hunter survived with severe injuries. Biden’s sister moved in to help care for the boys, while Biden started his more than three-decades-long career in the Senate. He started with a salary of $42,500 a year (equal to about $250,000 today).

Biden got married again in 1977 to his current wife, Jill. Since at least 1998, the earliest year Biden has released his tax returns, most of the Bidens’ income has stemmed from his Senate salary and Jill’s salary as an English professor at community colleges. They did earn $71,000 in royalties and another $9,500 for “audio book rights,” shortly after Random House published his first memoir, Promises to Keep. When Biden left his Senate seat in 2009, his salary had been $169,300 a year. His new gig as vice president came with a 30% raise.

Read The Top 10 Richest President in the world

In 2014, Biden spoke at a White House event that centered on problems working families face. He noted that he had been listed as the “poorest man in Congress.” Wearing what he referred to as a “mildly expensive suit,” he stated plainly: “Don’t hold it against me that I don’t own a single stock or bond. I have no savings account. But I got a great pension, and I got a good salary.” 

That wasn’t entirely true. Biden’s financial disclosure that year showed that he did own a savings account with at least $1,000, and Jill had two certificate of deposit accounts at least $50,000 apiece, as well as some equity and bond funds that were part of her retirement accounts.

Even so, the Biden’s personal finances were not in great shape. That same disclosure also listed liabilities worth at least $780,000. Since 1998, when Biden built his home in Wilmington, he has frequently refinanced the property over the years. Before Biden’s son Beau died of brain cancer in 2015, the vice president said he was worried his son would have to resign from his job as Delaware’s attorney general while he was sick, and he considered selling his Wilmington house to help out his son. President Barack Obama discouraged him from selling the place, stepping in to say he would personally lend him the money if he needed it.

When Biden ended his term as vice president in January 2017, he filed another financial disclosure form, listing assets and liabilities worth somewhere between negative $897,000 and positive $489,000. But over the next 23 months, the Bidens earned more than $15 million, according to tax filings. Joe Biden got $1.8 million from book tour events and $2.4 million in speaking fees, according to his most recent financial disclosure. He also earned $775,000 from the University of Pennsylvania to lead the Penn Biden Center for Diplomacy and Global Engagement as the Benjamin Franklin presidential professor of practice. Jill added $700,000 in speaking fees.

Those earnings allowed the couple to buy a 4,800-square-foot house by the water in Rehoboth Beach, Delaware, in 2017, and pay off at least one mortgage on their Wilmington house. They also contributed over $1 million to charities, including two controlled by their own family. They gave $150,000 to the Beau Biden Foundation for the Protection of Children and $100,000 to the Joseph Biden Foundation.

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The Bidens still have some debt. County records show that a $540,000 mortgage on the Wilmington house, recorded in 2013, has yet to be paid off. There are also two other liabilities listed on his disclosure. One of them is a line of credit, for $15,000 to $50,000, which Biden co-signed with one of his sons.

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