Joe Biden Net Worth (Money, Salary, Assets)
- Net Worth: $9 Million
- Birthdate: Nov 20, 1942 (81 years old)
- Birthplace: Scranton
- Gender: Male
- Height: 6 ft (1.83 m)
- Profession: Lawyer, Politician
- Nationality: United States of America
Joe Biden Net Worth and Salary
Joe Biden, an American politician, has a net worth of $9 million. Biden held the position of Senator from Delaware from 1973 to 2009 before becoming the 47th Vice President of the United States under President Barack Obama from 2009 to 2017. He won the U.S. presidential election in November 2020 and became the 46th President, defeating Donald Trump. Biden announced his intention to run for a second term in the 2024 presidential election in April 2023.
Presidential Salary
As per Title 3 of the US code, Joe Biden, as President of the United States, receives a base salary of $400,000 along with additional allowances such as a $50,000 annual expense account, a $100,000 nontaxable travel account, and a $19,000 entertainment stipend. Before moving into the White House, the Bidens were provided $100,000 for redecorating purposes.
Joe Biden’s Financial History
Before his vice presidency, Biden referred to himself as one of the “poorest” members of Congress, with a net worth below $500,000. Financial disclosures from 1998 indicated an average annual income of around $215,000 until a $55,000 increase from pensions and Social Security payments in 2009. By the end of his term as Vice President, the Bidens’ yearly income was approximately $390,000, and his net worth was reported at $1.5 million.
After leaving office, Biden’s income significantly rose, primarily from speeches and book royalties, reaching $11 million in 2017. Between 2016 and 2019, the Bidens earned nearly $17 million.
Chip Somodevilla/Getty Images
Early Life
Joseph Robinette Biden Jr. was born on November 20th, 1942, in Scranton, Pennsylvania. Raised with three siblings in a Catholic family, Biden faced financial challenges in his early years, prompting his family’s move to Delaware for better opportunities.
During his high school and college years, Biden was involved in sports, academics, and public service. He played college football at the University of Delaware while double-majoring in history and political science. After graduation, he pursued a law degree at Syracuse University College of Law, graduating in 1968.
Despite facing accusations of plagiarism during his academic years, Biden began his professional journey as a law clerk and later a public defender. His political aspirations led him to run for county council and eventually secure a seat in the US Senate.
Political Career
Entering politics in the late ’60s, Biden’s career saw its ups and downs, including a failed bid for the Democratic nomination in 1987 due to plagiarism accusations. Nevertheless, he persevered and won the US Senate seat in 1972, becoming one of the youngest senators in history.
Over the years, Biden’s political career flourished, leading him to the role of Vice President under Barack Obama. Despite earlier setbacks, his determination and political acumen eventually guided him to becoming the 46th President of the United States post his victory in the 2020 election.
(Photo by Drew Angerer/Getty Images)
Income From Speeches
Joe Biden and his wife, Jill, have generated over $15 million from public speaking engagements and book deals following their White House exit. Biden’s compelling speeches have made him a highly sought-after speaker, with fees reaching hundreds of thousands per event. A notable example is his $190,000 fee for a speech at Drew University in 2018. Over 2017 to 2018, he delivered a total of 40 speeches, consistently earning five or six figures per appearance.
Income From Book Deals
Post-Vice Presidency, the Bidens secured a $10 million three-book deal. Joe’s book, “Promise Me, Dad,” detailing his son’s tragic passing, drew large audiences during his promotional tour, consisting of over 40 stops. Tickets ranged from $25 for basic entry to $450 for VIP tickets, which included a photo opportunity with Biden.
Salary
Joe Biden’s earnings have shown fluctuation over the years as per his tax returns. Records dating back to 1998 indicate an income of $215,432 that year. His earnings remained around $200,000 annually until 2009 when they surged by an additional $55,000 yearly due to social security and pension benefits.
Transitioning out of Vice Presidency in 2016, Biden’s earnings were around $400,000 annually. This figure soared to $11 million in 2017 before decreasing to $4.6 million in 2018.
Jill Biden’s Salary
Jill Biden earns $100,000 yearly from her teaching position at Northern Virginia Community College.
Tax Returns
Their joint tax returns indicated the following earnings in recent years:
- 2016: $400,000
- 2017: $11 million
- 2018: $4.6 million
- 2019: $944,737
- 2020: $607,336
- 2021: $610,702
- 2022: $579,514
- 2023: $619,976
For 2023, Joe and Jill reported $619,976 in adjusted gross income. Federal income tax amounted to $146,629 at an effective rate of 23.7%. Additionally, they paid $30,908 in Delaware income tax, while Jill contributed $3,549 to Virginia income tax. Their primary income sources were Joe’s $400,000 presidential salary and Jill’s $85,985 from teaching, with an additional $134,000 from social security payments. The couple donated $20,000 to 17 charities, including $5,000 to the Beau Biden Foundation.
(Photo by Chip Somodevilla/Getty Images)
Debt
Joe Biden’s financial disclosures have unveiled a history of debt management struggles. Essentially, Biden’s primary financial asset has been his Delaware home, against which he has taken out multiple loans, including mortgages and cash value against his life insurance policies.
Rental Income
According to federal financial disclosures, Joe and Jill earned $2,200 monthly by renting their guest house to Secret Service members while Biden served as vice president, accumulating approximately $170,000 in rental revenue over that period.
Real Estate
Biden’s main residence is situated in the Greenville neighborhood of Wilmington, Delaware, overlooking a lake built by the du Pont family. Acquired for $350,000 in 1997, similar homes now fetch over $2 million. Additionally, the Bidens purchased a six-bedroom vacation home in Rehoboth Beach for $2.74 million in 2017. They also rented a $4 million mansion in McLean, Virginia, for $20,000 monthly between 2018 and 2019.
Marriages and Children
In 1966, Joe Biden wed Neilia Hunter, with whom he had three children, including Hunter Biden and Beau Biden. Tragically, Neilia and their daughter Naomi passed away in a car accident in 1972.
In 1975, Joe married Jill Jacobs after being set up on a blind date. The couple, who tied the knot in 1977, has a daughter named Ashley. Combined, they have seven grandchildren.
REFERENCES:
These statistics were taken from various sources around the world (worldwide) including these countries:
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America), US Minor Outlying Islands, Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Data is coming from all regions including Africa, Asia, Europe, North America, South America, Ireland, Wales, Scotland, and Northern Ireland and from people of different backgrounds (Arab, Arabic, African, Asian, Latin, Latino, Latina, Male, Men, Female, Women, Black, Causasian and more).
Stats are from 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050.
Stats were also taken from these US cities and states:
CITIES:
New York (NYC), Los Angeles (LA), Chicago, Houston, Phoenix, Philadelphia, San Antonio, San Diego, Dallas, San Jose, Austin, Jacksonville, Fort Worth, Columbus, Charlotte, San Francisco, Indianapolis, Seattle, Denver, Washington, Boston, El Paso, Nashville, Detroit, Oklahoma City, Portland, Las Vegas, Memphis, Louisville, Baltimore, Milwaukee, Albuquerque, Tucson, Fresno, Mesa, Sacramento, Atlanta, Kansas City, Colorado Springs, Miami, Raleigh, Omaha, Long Beach, Virginia Beach, Oakland, Minneapolis, Tulsa, Tampa, Arlington, New Orleans, Wichita, Cleveland, Bakersfield, Aurora, Anaheim, Honolulu, Santa Ana, Riverside, Corpus Christi, Lexington, Henderson, Stockton, Saint Paul, Cincinnati, St. Louis, Pittsburgh, Greensboro, Lincoln, Anchorage, Plano, Orlando, Irvine, Newark, Durham, Chula Vista, Toledo, Fort Wayne, St. Petersburg, Laredo, Jersey City, Chandler, Madison, Lubbock, Scottsdale, Reno, Buffalo, Gilbert, Glendale, North Las Vegas, Winston-Salem, Chesapeake, Norfolk, Fremont, Garland, Irving, Hialeah, Richmond, Boise, Spokane, Baton Rouge.
STATES:
Alabama AL, Alaska AK, Arizona AZ, Arkansas AR, California CA, Colorado CO, Connecticut CT, Delaware DE, Florida FL, Georgia GA, Hawaii HI, Idaho ID, Illinois IL, Indiana IN, Iowa IA, Kansas KS, Kentucky KY, Louisiana LA, Maine ME, Maryland MD, Massachusetts MA, Michigan MI, Minnesota MN, Mississippi MS, Missouri MO, Montana MT, Nebraska NE, Nevada NV, New Hampshire NH, New Jersey NJ, New Mexico NM, New York NY, North Carolina NC, North Dakota ND, Ohio OH, Oklahoma OK, Oregon OR, Pennsylvania PA, Rhode Island RI, South Carolina SC, South Dakota SD, Tennessee TN, Texas TX, Utah UT, Vermont VT, Virginia VA, Washington WA, West Virginia WV, Wisconsin WI, Wyoming WY.
