Joseph Robinette Biden Jr., commonly known as Joe Biden, is an American politician who has been serving as the 46th President of the United States since 2021. Prior to his presidency, Biden had a long and distinguished career in public service, including serving as a United States Senator from Delaware from 1973 to 2009 and as the 47th Vice President of the United States from 2009 to 2017. Throughout his career, Biden's financial situation has been subject to public scrutiny, with his net worth being a topic of interest. As of 2022, Joe Biden's net worth is estimated to be around $9 million.
Early Life and Career
Joe Biden was born on November 20, 1942, in Scranton, Pennsylvania, to Catherine Eugenia “Jean” Biden and Joseph Robinette Biden Sr. He was the oldest of four siblings in a middle-class family. Biden’s early life was marked by financial struggles, with his family relying on his father’s car sales income. Despite these challenges, Biden’s family managed to send him to the University of Delaware, where he earned a bachelor’s degree in 1965, and later to Syracuse University College of Law, where he earned a law degree in 1968. After graduating from law school, Biden worked as a public defender and later as a law professor before entering politics.
Financial Growth
Biden’s financial situation began to improve significantly after he entered politics. As a senator, he earned a salary of 42,000 per year, which is equivalent to approximately 250,000 today. During his time in the Senate, Biden also earned income from book sales, speaking fees, and investments. One of his most notable sources of income was the sale of his book “Promises to Keep,” which earned him a reported $1.8 million in 2007. Additionally, Biden’s wife, Jill, has also contributed to the family’s income through her work as a teacher and educator.
| Year | Income Source | Amount |
|---|---|---|
| 2007 | Book sales | $1.8 million |
| 2009 | Speaking fees | $900,000 |
| 2015 | Investments | $300,000 |
Net Worth Breakdown
As of 2022, Joe Biden’s net worth is estimated to be around $9 million. This estimate is based on his financial disclosures, which include income from various sources such as salaries, investments, and book sales. The breakdown of his net worth is as follows:
- Salaries: Biden's salary as President of the United States is $400,000 per year. He also earned a salary of $230,000 per year as Vice President.
- Investments: Biden has invested in a variety of assets, including stocks, bonds, and real estate. His investments are estimated to be worth around $2 million.
- Book sales: Biden has written several books, including "Promises to Keep" and "Promise Me, Dad." His book sales are estimated to have earned him around $1.5 million.
- Speaking fees: Biden has earned significant income from speaking fees, with estimates suggesting that he has earned around $1 million per year from speaking engagements.
Taxes and Charitable Donations
Biden has been transparent about his tax returns, releasing his returns for the past several years. According to his tax returns, Biden has paid an effective tax rate of around 25% on his income. He has also made significant charitable donations, including a $1.8 million donation to the Biden Foundation in 2017. The Biden Foundation is a non-profit organization that focuses on issues such as education, healthcare, and foreign policy.
How does Joe Biden's net worth compare to other politicians?
+Joe Biden's net worth is relatively modest compared to other politicians. For example, the net worth of former President Donald Trump is estimated to be around $3.1 billion, while the net worth of former President Barack Obama is estimated to be around $70 million.
What are some of the criticisms of Joe Biden's financial disclosures?
+Some critics have accused Biden of underreporting his income and failing to disclose certain financial assets. However, there is no evidence to suggest that Biden has engaged in any illicit financial activities.
In conclusion, Joe Biden’s net worth is estimated to be around $9 million, with a significant portion of his income coming from salaries, investments, and book sales. While Biden’s financial disclosures have been subject to scrutiny, there is no evidence to suggest that he has engaged in any illicit financial activities. As President of the United States, Biden’s financial situation will continue to be subject to public scrutiny, and it is likely that his net worth will continue to be a topic of interest in the years to come.
