Joe Biden Net Worth, Biography, Political Career, and Wiki [Latest Update]
Joe Biden net worth is estimated at $8 million. He made $17.3 million during his four years out of office, yet Joe Biden net worth is believed to be only $8 million as of 2023, according to Forbes.
Joe Biden, who had spent his adult life as an elected official, boarded the Amtrak out of Washington D.C.’s Union Station on the day America’s first billionaire president took office, with the kind of modest fortune you’d expect from someone who had spent his adult life as an elected official: $2.5 million, mostly made up of pensions and real estate. Biden, on the other hand, was set to cash in. He and his wife Jill had made $11.1 million at the end of 2017. The following year, they made $4.6 million, followed by $1 million in 2019 and $630,000 in 2020.
The narrative of how Biden became wealthy after leaving office as vice president by using his celebrity to sell books and give speeches has been repeated many times. However, a closer examination of the numbers raises an unasked question: why isn’t Biden even wealthier? You’d expect someone with a $2.5 million net worth to be worth more than $8 million if he starts with a $2.5 million net worth and gets $17.3 million when the markets are raging. So, where did Biden’s money go? Well, $7 million went to taxes, $1.3 million to charity, $180,000 to pay for household workers, and an estimated $80,000 to pay for mortgage interest. Even if you exclude those items, you’re still a few million ahead of Joe Biden net worth.
Joe Biden Net Worth in 2021
$ 9 Million
20th November 1942
Who is Joe Biden?
As World War II raged overseas, Joseph Robinette Biden Jr. was born on November 20, 1942, in Scranton, Pennsylvania. Joey, as he was called, was a feisty boy from a working-class Irish Catholic family. He was the first child of Catherine Eugenia “Jean” Finnegan Biden and Joseph Robinette Biden Sr. Joseph Robinette Biden Jr., the 46th and current President of the United States, is an American politician. He was a member of the Democratic Party who served as Barack Obama’s 47th vice president from 2009 to 2017. From 1973 to 2009, he represented Delaware in the United States Senate.
Joe Biden was born in Scranton, Pennsylvania, and raised in New Castle County, Delaware. He attended the University of Delaware and Syracuse University before getting his law degree in 1968. Biden served on the Senate Foreign Relations Committee for many years, eventually becoming its chairman. Here we’’ discuss his biography, personal life, political career, Joe Biden net worth, and how he has amassed his wealth.
Early life and career in the Senate
Biden obtained a bachelor’s degree from the University of Delaware in 1965 and a law degree from Syracuse University in 1968. He was born in Scranton, Pennsylvania, and raised in New Castle County, Delaware. During this time, he married Neilia Hunter (1966), with whom he had three children.
Biden returned to Delaware after graduating from law school to work as an attorney before entering politics, sitting on the New Castle County Council from 1970 to 1972. At the age of 29, he was elected to the United States Senate, making him the fifth-youngest senator in history. His wife and infant daughter were murdered in a vehicle accident about a month later, and his two kids were critically injured. Despite considering retiring from politics, Biden was convinced to join the Senate in 1973, and he went on to win six reelections, making him Delaware’s longest-serving senator. He married educator Jill Jacobs in 1977, and the couple eventually had a daughter. In addition to his work as a senator, Biden worked as an adjunct lecturer at the Widener University School of Law in Wilmington, Delaware, from 1991 to 2008. So, currently, being the U.S. president, Joe Biden net worth is estimated at $8 million.
Biden’s focus as a senator was on international affairs, criminal justice, and drug policy. He was a member of the Senate Foreign Relations Committee and chaired it twice (2001-03 and 2007-09), as well as the Senate Judiciary Committee from 1987 to 1995. He was notably outspoken on topics relating to the late-’90s Kosovo conflict, supporting U.S. involvement against Serbian forces in order to rescue Kosovars from an onslaught by Serbian President Slobodan Miloevi. During the Iraq War (2003-2011), Biden offered a partition proposal to keep Iraq together and peaceful.
Biden was also a member of the International Narcotics Control Caucus and the main senator in drafting the statute that created the position of “drug czar,” which controls national drug policy. Here we’ll check out details of Joe Biden net worth and his earnings.
Joe Biden Net Worth and Salary
He is an American politician with Joe Biden net worth of $8 million dollars as of 2023. Joe was a member of the Delaware Senate from 1973 to 2009. From 2009 until 2017, he was the 47th Vice President of the United States, serving under President Barack Obama. In 2020, he was nominated by the Democratic Party to run for President of the United States against Donald Trump. He became America’s 46th President in November 2020, defeating Donald Trump in a landslide victory (both electorally and in the popular vote).
Joe Biden Net Worth in 2023
When his stint as Vice President came to an end, Joe Biden net worth was estimated to be $1.5 million as of 2023. He referred to himself as one of the “poorest” members of Congress, or “middle-class Joe,” for many years before becoming Vice President, with Joe Biden net worth of less than $500,000. He made a lot of money after leaving the White House, mostly through speeches and book royalties, reaching a high of $11 million in 2017. Joe and Jill earned little about $17 million between 2016 and 2019. But now he is a successful politician and Joe Biden net worth of $8 million was achieved by him.
Key Facts about Joe Biden
- Was routinely one of the Senate’s worst members.
- When he left the White House in 2016, Joe Biden net worth was $1.5 million.
- In 2017, he made $11 million primarily from book advances.
- In 2017, he made $4.6 million.
- As a college lecturer, Jill Biden earns $100,000 per year.
- Joe makes between $100 and $200,000 per paid speech.
The 47th Vice President of the United States
As Vice President, Biden continued to lead on critical national issues and represented the United States abroad. In his struggle to enhance the living standards of middle-class Americans, reduce gun violence, combat violence against women, and eliminate cancer as we know it, Vice President Biden convened sessions of the President’s Cabinet, coordinated interagency efforts, and engaged with Congress.
Biden aided President Obama in passing the Recovery Act, which is the country’s largest and most comprehensive economic recovery package and our most significant commitment to clean energy. By the end of the presidency, the President’s plan had prevented another Great Depression, created and saved millions of jobs, and resulted in 75 months of job growth. And Biden accomplished all of this with less than 1% waste, abuse, or fraud – the most efficient government program in American history.
President Obama and Vice President Biden also helped pass the Affordable Care Act, which cut the number of uninsured Americans by 20 million by the time they left office and made it illegal for insurance companies to deny coverage to anyone with pre-existing conditions.
He spearheaded the campaign to return 150,000 troops home from Iraq and acted as the main person for U.S. diplomacy throughout the Western Hemisphere. He also reinforced partnerships with our allies in Europe and Asia-Pacific.
President Barack Obama presented Biden with the Presidential Medal of Freedom with Distinction, the nation’s highest civilian honor, at a White House event. So, continue reading the article about Joe Biden and learn about him in detail.
Sources of his money
Income From Speeches
Since leaving the White House, Joe and Jill have made at least $15 million in speaking engagements and book deals. Biden has become a sought-after public speaker, with single speeches fetching hundreds of thousands of dollars. In 2018, he was paid $190,000 for a speech at Drew University in New Jersey. From 2017 to 2018, he gave 40 lectures and was paid in the 5-figure or 6-figure range each time. With all of his income sources, Joe Biden net worth reaches $8 million as of November 2021.
Income from Book Deals
After stepping down as Vice President, Biden and his wife secured a three-book deal worth $10 million. Joe went on a book tour after authoring Promise Me, Dad, a book about his son’s death. He made a total of 40 stops. Basic tickets were $25, while VIP tickets cost $450 and included a photo with Vice President Joe Biden.
Joe’s wages have changed over the years, according to his tax forms. He has made his tax records public, with the earliest records dating back to 1998. He earned a total of $215,432 throughout this year. His annual income remained at $200,000 until 2009 when it grew by $55,000 due to social security and pension payments.
Joe Biden was making around $400,000 per year in 2016 when he was ready to leave office as Vice President. By 2017, the figure had skyrocketed to $11 million. Biden’s earnings dropped slightly in 2018, with a total of $4.6 million. Thus, Joe Biden net worth stands at $8 million in 2021.
Jill Biden salary
Jill Biden’s annual salary as a teacher at Northern Virginia Community College is $100,000.
The Bidens earned the following amounts in recent years, according to Joe’s tax returns.
Inside Joe Biden’s Wallet
Thanks to a few prosperous years on the book and lecture circuit, Biden has acquired a $8 million fortune. He currently owns two houses valued at more than $4 million (net debt) and has at least $950,000 in cash. Now his fortune is estimated by us and Joe Biden net worth rises to $8 million.
These decisions don’t make sense from a business standpoint. Without saving or investing much money, Biden was stretching himself too thin. However, when viewed in terms of quality of living, they make sense-“middle-class Joe” desired to live an upper-class lifestyle, complete with large residences and sending his children to expensive schools, so he borrowed heavily.
Megan Gorman, an attorney and managing partner of a financial planning firm for high net worth individuals who also contributes to Forbes, says, “What is quite prevalent in the United States now is most people, even with huge incomes, are stretched for liquidity.” “When you look at the Bidens’ tax records, you see a couple who has acquired things like pensions, life insurance, and some savings over the course of their lifetime.” And being this ultra-high net worth individual isn’t some big, calculated plan.”
Biden had additional money after becoming Vice President, which he used to pay off his mortgage. In a Trumpian gesture, he reportedly leased a cottage on his Wilmington property for $26,400 a year to the US Secret Service, which is in charge of his protection.
In his twenties, Joe Biden began purchasing homes-particularly those that were outside of his budget-by taking out numerous mortgages and borrowing against life insurance plans. Joe Biden net worth was frequently in the negatives, and in 2007, he was classified as the least wealthy senator in the United States.
The 78-year-old president-elect is no longer considered middle-class. Biden and his wife Jill Biden are worth $9 million, according to a Forbes estimate from 2019, with much of that coming from speaking fees and book agreements that poured in following his vice presidency. His real estate accounts for almost $4 million of Joe Biden net worth.
Biden built this 6,850-square-foot mansion on four acres of isolated, lakefront land in the wealthy neighborhood of Wilmington, Delaware, in 1996. The lot was purchased for $350,000 back then, according to Zillow, and the property is now valued at more than $1 million, though a real estate expert put the price closer to $2 million.
He rented a cottage on the site to the Secret Service for $2,200 per month during his vice presidency. When his son Beau was diagnosed with brain cancer, Biden considered selling the property to help pay for treatments, but President Barack Obama advised him against it, instead offering to lend him the money.
Delaware’s Rehoboth Beach
The Bidens paid $2.7 million for a house on the Delaware Shore in the summer of 2017. The three-story property, which overlooks Cape Henlopen State Park and is just a few streets from the shore, offers six bedrooms, large porches, views of the Atlantic Ocean, and an outdoor kitchen, BBQ, and fireplace. “Throughout our careers, Jill and I had fantasized about being able to buy a beach house in our own backyard where we could bring the whole family. We’re grateful to be able to do so now, and we’re looking forward to spending time with our family at the place that means the most to us,” he added in a statement.
After leaving the Vice President’s residence at the Naval Observatory at the end of his term in 2017, the Bidens began renting a home in McLean, Virginia, an upmarket neighborhood outside of Washington, D.C. that is home to a who’s who of senators, Supreme Court justices, and diplomats. It’s also where Jackie Kennedy was born and raised. This Georgian-style property, which they rented from venture entrepreneur Mark Ein (Zillow estimates it costs $20,000 per month), was once the residence of Alexander Haig, who served as Secretary of State under President Ronald Reagan and as White House chief of staff under Presidents Nixon and Ford.
The five-bedroom estate is spread out over 12,000 square feet and has a gym, sauna, floor-to-ceiling windows, and a driveway that can accommodate 20 automobiles. Joe Biden and his wife Jill Biden are no longer renting this mansion, according to reports from February.
Former home: Greenville, Delaware
Biden bought this former DuPont estate in tony Greenville for $185,000 in 1974 as a young senator and recent widower (his first wife Neilia and their newborn daughter Naomi having died in a car accident in 1972). The 10,000-square-foot house was dubbed ‘The Station’, and it served as the headquarters for his first presidential campaign in 1988. Biden sold the residence for $1.2 million in 1996.
US President-elect Joe Biden and His Cars
President-elect Biden grew up in and around automobiles. Joe Biden’s father had car dealerships in Delaware for 34 years, mostly selling Chrysler cars, with a brief stint supervising operations for Ford.
Biden’s first car was a 1951 Studebaker convertible, which he loved.
His first automobile, though, was a 1951 Studebaker, which was followed by a candy-apple red 1952 Plymouth Convertible with a split windshield. In college, he owned a 1956 Chevrolet and a Mercedes-Benz 190SL with over 100,000 miles (1.6 lakh kilometers) on the clock and a Solex carburetor.
Biden was also the proud owner of a Mercedes-Benz 190SL. When he bought it, the car had almost 1.6 lakh kilometers on the odometer.
His most valued property, though, is his 1967 Chevrolet Corvette, which is done in Goodwood green and has a 327 cubic-inch V8 engine that produces roughly 350 horsepower. There’s also a rear-axle ratio. Biden’s father gave him the convertible as a wedding gift in August of 1967, and he still drives it now.
Joe Biden served as Vice President under President Barack Obama and traveled in a bullet-proof Cadillac limousine before being elected President. The Secret Service, which is responsible for the protection of state heads in the United States, usually prohibits the President and Vice President from driving cars during their term in office and for six months afterward.
As President of the United States, he will have to adhere to that regulation once more, and will be chauffeured in the armored Cadillac known as ‘The Beast’. All of these are possible due to Joe Biden net worth.
It also helps that a petrolhead will be in charge of one of the world’s most important automobile sectors. The sector anticipates significant changes in the form of legislation, policy, and more under the new Biden administration. Biden and his Vice President-elect, Kamala Harris, are staunch proponents of climate change, and the Obama administration is projected to make significant strides in the advancement of electric vehicles and mobility in the United States. Over the next four years, clean energy and green transportation will continue to be hot topics.
Under the Biden administration, electric mobility is expected to get a strong push, with an emphasis on sustainable energy and tackling climate change issues.
The federal EV tax credit, which is identical to India’s FAME II subsidy but has a 600,000 car manufacturer maximum, is also set to be extended in the country. Instead, Biden may set a family income cap of $250,000 for people seeking financing, allowing for faster adoption of electric vehicles. Reading the article let’s know Joe Biden net worth details here.
Best of Biden’s quotes that show he was the right person to become President
- “We have learned again that democracy is precious, democracy is fragile. At this hour my friends, democracy has prevailed.” – Joe Biden.
- “Given a fair shot, given a fair chance, Americans have never, ever, ever, ever let their country down. Never. Never. Ordinary people like us. Who does extraordinary things.” – Joe Biden.
- . “The 21st century is going to be the American century. Because we lead not only by the example of our power but by the power of our example. That is the history of the journey of America. – Joe Biden.
- “I will defend the Constitution, our democracy, America, and I will keep everything I do in your service, thinking not of power but of possibilities, not of personal interests but of public good.” – Joe Biden.
- “The predicaments currently facing the nation are historic. Few Americans have found a time more challenging than the time we are in now.” – Joe Biden.
- “We will be judged, you and I, by how we resolve these cascading crises… I believe we will, and write the next great chapter of the American story.” – Joe Biden.
- “This is absolutely bizarre that we continue to subsidize highways beyond the gasoline tax, airlines, and we don’t subsidize, we don’t want to subsidize, a national rail system that has a positive environmental impact.” – Joe Biden.
Funny Quotes of Joe Biden
Uh, uh, Chuck Graham, state senator, is here. Stand up, Chuck, let ’em see you. Oh, God loves you. What am I talking about.” – Joe Biden.
. “I am a gaffe machine. But by God, what a wonderful thing compared to a guy who can’t tell the truth .” – Joe Biden.
“You know, during World War II, Roosevelt came up with the War Production Board.” – Joe Biden.
“Look, John’s last-minute economic plan does nothing to tackle the number one job facing the middle class, and it happens to be, as Barack says, a three-letter word: jobs. J-O-B-S.” – Joe Biden.
. “When the stock market crashed, Franklin Roosevelt got on the television and didn’t just talk about the princes of greed. He said, ‘Look, here’s what happened.'” – Joe Biden.
. “If John McCain wants to know where the bad guys live, come back with me to Afghanistan. We know where they reside, and it’s not in Iraq.” – Joe Biden.
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