Joe Biden Net Worth

Joseph Robinette Biden Jr., born November 20, 1942, in Scranton, Pennsylvania, is the 46th President of the United States. Known by the nickname 'Joe,' Biden grew up in a middle-class family and overcame a childhood stutter. He earned his Bachelor's degree from the University of Delaware in 1965 and his law degree from Syracuse University in 1968. Biden's political career began in 1970 when he was elected to the New Castle County Council. In 1972, at age 29, he became one of the youngest people ever elected to the U.S. Senate. Tragically, just weeks after his election, Biden's wife Neilia and infant daughter Naomi were killed in a car accident, leaving him a single father to his two young sons, Beau and Hunter. Biden was sworn in as Senator at his sons' hospital bedside and commuted daily from Delaware to Washington, D.C., earning him the nickname 'Amtrak Joe.' In 1977, he married Jill Tracy Jacobs, with whom he had a daughter, Ashley. Biden served as a Senator from Delaware for 36 years, chairing the Senate Judiciary Committee and the Senate Foreign Relations Committee. He ran unsuccessfully for the Democratic presidential nomination in 1988 and 2008. In 2008, he was chosen as Barack Obama's running mate and served two terms as Vice President from 2009 to 2017. In 2020, Biden won the presidency, defeating incumbent Donald Trump in a contentious election. His presidency has focused on issues such as the COVID-19 pandemic response, economic recovery, climate change, and international relations. Throughout his career, Biden has been known for his empathy, his ability to work across party lines, and his dedication to public service.

Joe Biden's net worth primarily stems from his long career in public service, book deals, and speaking engagements. After leaving the Vice Presidency in 2017, Biden and his wife Jill significantly increased their income through book deals and paid speaking engagements. Their 2017 tax return showed an income of $11 million, mostly from book royalties and speaking fees. Biden's presidential salary is $400,000 per year, though he has pledged to donate his salary to charity. The Bidens also receive income from pensions related to Joe's Senate and Vice Presidential service, as well as Jill's teaching career. They own two homes in Delaware, including a vacation home in Rehoboth Beach purchased for $2.7 million in 2017.

Biden's net worth has fluctuated over the years but saw a significant increase after his term as Vice President. The majority of his wealth comes from his post-Vice Presidency activities, particularly book deals and speaking engagements. His 2017 book 'Promise Me, Dad' and subsequent speaking tour were major contributors to his increased income. The Bidens' tax returns show they earned more than $15 million in the two years after leaving the White House. Their assets include real estate, with two homes in Delaware valued at several million dollars. They also have investment accounts and cash savings. Liabilities include mortgages on their properties. Biden's long career in public service provides him with multiple pensions, which contribute to his steady income. However, compared to many politicians and former presidents, Biden's net worth is relatively modest. He has often referred to himself as 'Middle-Class Joe,' reflecting his upbringing and his appeal to working-class voters. The Bidens have increased their charitable giving in recent years, donating about $1 million to charity in 2017 and 2018 combined. While his presidential salary adds to his income, Biden's pledge to donate it may impact his net worth growth during his presidency. Overall, Biden's financial situation reflects a combination of long-term public service, recent private sector opportunities, and strategic real estate investments.