Joe Biden is an American Politician. He is the 46th and current democratic President of the United States of America. He was known as a poor member of the senate until now that he has earned a good income.
Personal Details
Full Name: Joseph Robinette Biden Jr.
Age: 78 years old
Date of Birth: Nov. 20, 1942
Gender: Male
Height: 6 ft. (1.83 m)
Profession: Lawyer, Politician
Nationality: American
Wealth in Details
Joe Biden frequently referred to himself as the “poorest” member of the congress. Because this “middle-class Joe” only makes less than $500,000. He disclosed having a net worth of $1.5 million when his term as Vice President ended.
This is the interesting part. Since he has to leave the White House as his term ended, he has to look for a new main source of income. And, he got that from his speeches and book royalties that peaked in 2017.
He was earning a net worth of $11 million. It’s way bigger than he was making before. From 2016 to 2019 alone, Joe and his wife Jill Biden earned a shade less than $17 million. They are making a really good income.
Early Life
Joe Biden’s complete name is Joseph Robinette Biden Jr. He was born on November 20, 1942, in Scranton, Pennsylvania. He was born and raised with his three siblings in a Catholic family.
It wasn’t easy for Joe’s family as well. They had their hard times. And during the ’50s, his father stopped working and couldn’t provide well for the family. There was an economic decline around Scranton.
They had to move to Delaware. Joe’s father became a salesman of used cars to continue providing for their family.
Joe Biden is a sporty guy. He joined the football team during his high school years. And, he was elected as the class president. This is his baby step in his interest in politics.
During his college years, he didn’t give up his sporty side. Joe Biden joined the football team while he was in double major classes. In 1965, he graduated with a Bachelor of Arts Major in History and Political Science.
After he graduated from college, he proceeded with a law degree and moved to Syracuse University College of Law. He was so famously accused of plagiarism at that time.
During the Vietnam era, Joe Biden was still a student and deferred his draft. Then, he graduated. That would mean he is eligible again. But, he received a medical deferment for asthma even though he was an athlete all of his life.
Joe Biden’s History and Career Growth
Like other success stories, Biden started small. He started working as a Law Clerk. Eventually, he started his law firm and became a public defender.
He ran for a seat on the New Castle County Council in 1969. This was his first involvement in politics. He won the elections but his vision in politics doesn’t stop there. He immediately looked upon the U.S. Senate.
In 1972, Joe Biden won the U.S. Senate Election even though he’s being an underdog. That didn’t stop him. He even was one of the youngest senators in U.S. history.
He spent a long stint in the U.S. Senate but he has a big aim too. Joe Biden set his eyes on the biggest prize – U.S. Presidency. To complete this, he ran for the Democratic nomination in 1987.
He got into trouble when he was accused again of plagiarizing a speech. The issue got bigger and led him to withdraw his run for the presidency.
This motivated man tried to regain the Democratic nomination in 2008. His campaigns were good. He had good bright points. But unfortunately, Biden commented on Barack Obama and Indian people that proved major blunders.
It was a shaky time for Biden. He had trouble raising his funds and never was a serious contender against Hillary Clinton and Barack Obama. In the end, he was chosen as Obama’s Vice President.
He had to give up his position in the Senate back in 2008 to serve Obama’s administration. In 2020, Joe Biden ran for the U.S. presidency and became the Democratic nominee.
Speeches
Joe and Jill Biden are good in speaking engagements and book deals. When Biden left the White House, they engaged more in these activities and earned as much as $15 million. Joe Biden has done well in this kind of business.
He became an in-demand public speaker. He typically earns hundreds of thousands of dollars for a single speech. In 2018, he earned $190,000 for one speech at Drew University in New Jersey. He gave a total of 40 speeches from 2017 to 2018. With that, he received 5-figure to 6-figure payments.
Book Deals
After Joe Biden ended his terms as a Vice President (VP) he left the Office of VP. Joe and Jill signed a three-book deal worth $10 million. He promoted a book with a tour and made over 40 stops. People buy the basic ticket for $25 and VIP tickets for $450.
Joe Biden’s Salary
Joe Biden’s income has fluctuated over the years. His tax documents have become available since 1998. And, the records show that this year he earned a total of $215,432. It’s consistent at around $200,000 just until 2009, he increased his income by $55,000 per year due to earning from social security and pensions.
In 2016, as Joe Biden was preparing to leave the office of Vice President, he started earning $400,000 per year. Then in 2017, that number fluctuated and rose to $11 million. Not as fast as it was in 2017 but 2018, Biden already earned a total of $4.6 million.
Jill Biden’s Salary
While both earn from public speaking engagements and book deals, Jill Biden teaches at Northern Virginia Community College earning $100,000 per year.
Joe and Jill Biden’s Tax Returns
These are their earnings per year under tax returns.
2016: $400,000
2017: $11 million
2018: $4.6 million
2019: $944,737
Joe Biden’s Debt Disclosure
Joe Biden’s struggles with debt were exposed and revealed by his financial disclosure forms. He loaned money against his house which was his only financial asset. His loans ran more than his insurance’s cash value at a maximum of $50,000. Biden even took a mortgage on his home in 2013 and owed about $500,00 to $1 million on the property.
Rental Income
Joe Biden’s debt with his old house was a bitter past. But this time, Joe and Jill were earning $2,200 per month. They rented it for the members of the Secret Service while he was still a Vice President. They earned a total of $170,000 during the period.
Real Estate
Biden has a primary home. He has a property in the neighborhood of Greenville in Wilmington, Delaware. It was bought in 1997 for $350,000.
10 years after they bought a six-bedroom vacation home in Rehoboth Beach, Delaware for $2 million. In around 2018 or 2019, the couple rented for $20,000 per month in McLean, Virginia.
Joe Biden total net worth
Joe Biden has a net worth of $9 million. What comprises this income will be broken down in detail below.
From 1973 to 2009, he served as a Senator and represented Delaware. He became the 47th Vice President of the United States when Barack Obama was still the president from 2009 to 2017.
He became the Democratic nominee during the Presidential Election in 2020 against Donald Trump. It was an overwhelming margin of votes from the Americans. Joe Biden was declared the winner of the presidential election.
The inauguration was held last January 2021 at the U.S. Capitol’s West Front
