Joe Biden Net Worth 2022, Presidential Income & Everything We Know

What is Joe Biden’s Net Worth and Salary?

American politician Joe Biden’s Net worth is $9 million in assets. As a Delaware Senator, Joe represented the state from 1973 to 2009. For the following eight years, from 2009 to 2017, he served as Barack Obama’s vice president.

To compete against Donald Trump, he was elected as the Democratic candidate for president in 2020. He will become the 46th President of the United States in November 2020 after defeating Donald Trump in an electoral and popular vote landslide.

Salary as President

Under Title 3 of the United States Code, Joe Biden’s base salary is $400,000. Other benefits include $50,000 per year in expenses, $100,000 in nontaxable travel funds, and a $19,000 per year entertainment grant. The Bidens received a $100,000 grant to help them decorate their new home before they moved in.

Joe Biden Net Worth
Joe Biden Net Worth

Joe Biden’s Personal Financial Situation

Joe Biden’s final financial statement after his stint as Vice President put his net worth at $1.5 million. It was common for him to refer to himself as “middle-class Joe” or one of Congress’s “poorest” members before he was elected vice president, with a net worth of less than $500,000.

After leaving the White House, he continued to make a good living by giving speeches and collecting book royalties, reaching a high of $11 million in 2017 alone. Joe and Jill made a little less than $17 million between 2016 and 2019.

Joe Biden Childhood

On November 20, 1942, Joseph Robinette Biden Jr. was born in Scranton, Pennsylvania. Joe grew up in a poor Catholic family with three older brothers and sisters. His father struggled to find work in Scranton throughout the 1950s due to the city’s economic downturn. When Joe’s father was forced to work as a used car salesman in Delaware, the family moved there.

Joe Biden played football in high school and was elected class president. When he was a history and political science double major at the University of Delaware, he also played collegiate football. In 1965, he received a bachelor’s degree from the university.

As a result, Joe went on to Syracuse University’s College of Law, where he received his JD in 1968. He was famously accused of plagiarism during this time period. During the Vietnam War, Biden was able to avoid military service by enrolling in college. Even though Joe had been an athlete his entire life, he was denied admission because of a medical deferment when he graduated and was once again eligible.

Joe Biden Career

He began his legal career as a clerk for the U.S. Attorney’s Office after graduating from college. In 1969, he ran for a position on the New Castle County Council and won, paving the way for him to run for the U.S. Senate the following year.

Joe Biden Career
Joe Biden Career

Despite being an obvious underdog, he won the 1972 US Senate race in Delaware. He was the youngest senator in the history of the United States when he was thirty. As a longtime member of the US Senate, Joe now has his sights set on the highest office in the land: the presidency. In 1987, he sought the Democratic nomination, but he was accused of plagiarising a speech and had to drop out of the race. After more controversy, Biden decided to drop out of the campaign.

In 2008, Biden ran for the Democratic nomination again. Vice President Joe Biden’s campaign had a lot of positive aspects, but his statements regarding Barack Obama and Indian people were disastrous.

As a result, he was unable to raise the necessary cash to compete with either Clinton or Obama. In the end, Barack Obama appointed him to the position of vice president. He resigned from the Senate in 2008 to work in President Obama’s administration. As a Democrat, Joe Biden was the party’s nominee for president in 2020.

The Profits from Giving Speeches

Joe and Jill have made at least $15 million in speaking appearances and book sales since leaving the White House. A single speech by Biden can earn him hundreds of thousands of dollars in compensation. Among his 2018 earnings: $200,000 for a speech at Drew University in New Jersey; $190,000 in 2017. There were at least 40 speeches from 2017 to 2018 in which he was paid at least $500,000 per time.

Joe Biden Salary

Joe’s wages have changed over the years, according to his tax forms. To date, he’s released all of his tax records, the earliest of which date back to 1998. He earned a total of $215,432 this year. It was roughly $200,000 per year until 2009 when an increase of $55,000 per year in social security and pension income was realized.

A year before he stepped down as vice president, Joe Biden was making around $400,000 per year. It had climbed significantly to $11 million by 2017. Since then, Biden’s earnings have dwindled marginally, reaching $4.6 million in 2018.

Amount Paid to Joe Biden

As a professor at Northern Virginia Community College, Jill Biden earns an annual salary of $100,000. As Joe reported, the Bidens made the following sums in recent years, according to his tax returns:

  • There was a $400,000 deficit in 2016.
  • In 2017, $11 million was earned.
  • In 2018, the amount was $4.6 million.
  • Amount: $944,737 in 2019

Joe Biden Debt

It has been revealed that Biden has struggled with debt for many years. His Delaware home was his sole source of income during this time. He’s used his house as collateral for a number of loans. Life insurance policies with a $50,000 maximum cash value were borrowed against by Biden between 1983 and 2015. In 2013, he took out a mortgage on his home and owed between $500,000 and $1 million on the property, according to disclosure papers issued in 2015.

Joe Biden Rentals Profits

During Joe Biden’s tenure as vice president, according to federal income reports, he and Jill made an additional $2,200 per month by renting out their guest house to Secret Service agents. During this time, they made $170,000 in rental revenue.

Purchasing and Selling of Real Estate

Joe lives in a house in Wilmington, Delaware’s Greenville district. The lake in front of the house was initially constructed by rich du Pont family members. Joe and Jill purchased their property for $350,000 in 1997. In the past few months, similar houses in the region have sold for a little over $2 million. Joe and Jill purchased a six-bedroom vacation property in Rehoboth Beach, Delaware, for $2.74 million in 2017. They rented a $4 million McLean estate for $20,000 a month between 2018 and 2019.

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