Joe Biden’s estimated net worth is $9 million dollars.
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Who is Joe Biden?
Joe Biden is the current president of the United States of America. He is the 46th president and has been in office since January 2021.
Mr. Biden belongs to the Democratic Party and previously served as Vice President under Barack Obama. Before that, he was a US Senator representing Delaware.
Early Life
Joe Biden was born in Scranton, Pennsylvania in 1942. His full name is Joseph Robinette Biden Junior, and he and his family relocated to the state of Delaware when he was 10 years old.
His parents are Joseph Robinette Biden Senior and Catherine Eugenia “Jean” Biden (formerly Finnegan).
There is English, Irish and French ancestry on his father’s side and Irish on his mother’s. The family is Catholic and Joe Biden has two brothers and a sister; he is the eldest of the four.
Joseph Robinette Biden Senior lost some of his former wealth around the time Joe Biden was born, forcing the family to live with his maternal grandparents for a while.
The Biden’s fared better in Delaware and lived in both Claymont and Mayfield. Biden’s father found success in selling used cars, which financed the family’s middle-class lifestyle.
Education
Joe attended Archmere Academy in Claymont and was a key member of the high school football team for a time.
Academically he was said not to be exceptional, although he did hold the position of class president more than once.
After graduating from high school Biden attended the University of Delaware, where he majored in history and political science and minored in English. He also played football here as a freshman.
How did Joe Biden Build His Net Worth?
According to Town and Country magazine, Joe Biden is sometimes referred to as ‘Middle-Class Joe’, but in fact, both he and his father before him suffered a series of setbacks during their lives.
Joe’s fortune is now estimated to be around $9 million dollars. So let’s take a look at how he has accumulated this considerable sum.
Joe Biden was a senator for over three-and-a-half decades, a position that came with a decent salary by most people’s standards.
At the outset, he was earning around $42,000 per annum in 1973, and by 2009 this figure had increased to a substantial $174,000 per year.
Joe Biden’s net worth at this point was around $30,000. However, so much of his fortune had come from other sources.
When he became Vice President his salary increased to $230,000, but it was other opportunities that really brought in the big money.
By 2019 – a decade later – Joe Biden and his wife had earned over $15 million between them.
The majority of this was earned during 2017 and 2018 when a lucrative book deal plus high-paying speaking engagements added up to a considerable sum.
During this period it’s estimated that Joe Biden was paid a fee of between $40,000 and $190,000 per speech.
The president was also paid over half a million dollars by the University of Pennsylvania, where he was a professor at the Penn Biden Center for Diplomacy and Global Engagement.
Now Joe Biden receives a salary of around $400,000 for being president, plus a $50,000 expenses allowance.
Jill Biden continues to teach at a community college, despite being First Lady, which she says is to help demonstrate the skills of teachers and the importance of the profession.
The Biden’s money is said to be invested in property and a portfolio. The two properties they own in Delaware are worth around $4 million between them, and they hold about another $4 million in investments and cash.
Joe Biden also has a pension worth $1 million, taking his total net worth up to $9 million.
It seems that the fortune amassed by the Biden’s is largely down to an $8 million deal with Flatiron Books, plus a slightly lesser sum earned for paid speaking engagements.
This has been invested in property in their home state of Delaware, plus savings and an investment portfolio.
What can we Learn from Joe Biden?
Joe Biden has suffered a number of major setbacks during his life, yet has managed to achieve so much in spite of this. Not least becoming one of the most powerful people in the world.
Joe Biden’s speech can be affected by his stutter, which he has combated by practicing the speech in front of a mirror.
Some say it can still have a negative impact on his performance when speaking in public, but clearly, he hasn’t let it stop him.
Biden suffered a major life event in 1972 when his first wife, Neilia, and their daughter Naomi died suddenly: they were killed when a truck hit the station wagon they were traveling in.
They had been out Christmas shopping on 18th December. Biden’s young sons Beau and Hunter both survived the accident.
During 1988, the need for brain surgery and a subsequent recovery period kept Biden away from the Senate for over half the year.
He suffered a brain aneurysm and then a pulmonary embolism, both of which required major surgery. Despite this further setback, he was back in politics just as soon as he was capable.
Even during his early days, Joe Biden demonstrated leadership qualities by becoming class president, despite not being an outstanding student. This shows both determination and self-awareness.
The fact that he became president during his late seventies also shows a commitment to hard work.
Joe Biden has clearly seized opportunities that have come his way – and has certainly done his time as a state senator.
Making much of his money from a book deal and speaking engagements later in life shows that, in his case, the long-term game has paid off. Becoming Vice President seems to have been the key that opened so many doors.
How Rich is Joe Biden?
Joe Biden has a fortune of around $9 million. Around $4 million of this is the value of the two Delaware homes he owns. Around $1 million comes from a federal pension, and the remaining $4 million is spread over a range of other savings and investments.
Joe Biden Net Worth – FAQs
How did Joe Biden Make his Money?
Though Joe Biden earned a good salary as a Delaware state senator, it was the promotion to Vice President that really opened doors for him.
Paid speaking engagements plus a book deal netted him and his wife millions during 2017 and 2018 in particular.
How Much is Donald Trump Worth?
By comparison, Joe Biden’s predecessor Donald Trump’s fortune runs into billions rather than millions of dollars.
Forbes says that Trump is now worth slightly less than when he became President, though he is still worth about $3 billion.
What is Barack Obama’s Net Worth?
The last President from the Democratic party before Biden was Barack Obama, and Joe Biden was Vice President under him.
Barack Obama was born in 1961, so is almost two decades younger than Biden, yet his fortune is estimated to be around $70 million.
