President Joe Biden, the 46th and current U.S. president, has held elected government positions since he was 29 years old, making him one of the youngest individuals to be elected to the U.S. Senate.
Biden served as a senator representing Delaware for 36 years before assuming the position of the 47th Vice President of the United States in the Obama administration. He was subsequently elected to the presidency in 2020.
Joe Biden’s Net Worth and Salary
According to Celebrity Net Worth, Joe Biden, an American politician, possesses a net worth of $9 million. Joe Biden held the position of Senator representing Delaware from 1973 to 2009. Subsequently, he assumed the position of the 47th Vice President of the United States during President Barack Obama’s tenure from 2009 to 2017.
In 2020, he secured the Democratic nomination for the U.S. presidential election, competing against Donald Trump. In November 2020, he achieved a resounding triumph over Donald Trump, winning both the electoral vote and the popular vote, so assuming the position of the 46th President of the United States. In April 2023, Biden declared his candidacy for re-election as president in the 2024 election.
Earnings from publishing contracts
Following his departure from the position of Vice Presidency, Biden and his wife entered into a lucrative agreement worth $10 million for the publication of three books. Following the completion of Promise Me, Dad, a memoir chronicling the death of his son, Joe embarked on a promotional tour for his book.
He completed more than 40 stops. Standard tickets are priced at $25, and VIP tickets, which offer the additional benefit of a photo opportunity with Biden, are priced at $450.
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Remuneration
Based on Joe’s tax returns, his income has varied over the years. He has provided access to his tax paperwork, with the oldest data dating back to 1998. Throughout this year, his earnings amounted to a total of $215,432. His income remained stable at approximately $200,000 until 2009, at which point it experienced an annual increase of $55,000 as a result of revenue derived from social security and pensions.
In 2016, while Joe Biden was concluding his tenure as vice president, his annual income amounted to approximately $400,000. By 2017, the amount has significantly increased to $11 million. In the year 2018, there was a minor decrease in activity, and Biden accumulated a sum of $4.6 million.
Salary of Jill Biden
Jill Biden’s annual salary as a teacher at Northern Virginia Community College is $100,000.
Income tax documents
Based on their combined tax filings, the Bidens have reported the following income figures 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
Joe and Jill’s 2023 tax record, which was published in April 2024, reveals that their adjusted gross income amounted to $619,976.
Their federal income tax payment amounted to $146,629, with an effective federal tax rate of 23.7%. In addition, they remitted a sum of $30,908 as payment for their Delaware income tax. Jill’s Virginia income tax payment amounted to $3,549.
Joe’s primary source of income was his $400,000 Presidential salary, while Jill earned an additional $85,985 from her teaching position at a Northern Virginia Community College.
The remaining portion of their income, approximately $134,000, was derived from social security benefits. In the year, they contributed a total of $20,000 to 17 distinct charitable organizations, which included a specific donation of $5,000 to the Beau Biden Foundation.
Debt
Biden’s financial disclosure filings have exposed his ongoing battle with debt throughout the years. Throughout that period, the sole financial asset that Biden possessed was his residence in Delaware.
He has obtained several loans using his house as collateral. Between 1983 and 2015, Biden utilized the cash value of his life insurance policies, which had a maximum valuation of $50,000, as collateral for borrowing.
In 2015, the disclosure papers indicated that he had a mortgage for his home in 2013 and had a debt of $500,000 to $1 million on the property.
Income generated by renting out property
According to federal financial reports, Joe and Jill earned a monthly income of $2,200 by leasing their guest house to Secret Service agents during Biden’s tenure as vice president.
Collectively, their rental income amounted to approximately $170,000 over this specific timeframe.
Real Estate
Joe Biden’s main domicile is a residence located in the Greenville area of Wilmington, Delaware. The residence offers a scenic view of an artificial lake that was once constructed by affluent individuals from the du Pont lineage.
Joe and Jill purchased their residence in 1997 for a total of $350,000. Comparable properties in the vicinity have recently been sold for just over $2 million.
Joe and Jill acquired a six-bedroom vacation residence in Rehoboth Beach, Delaware in 2017 for a sum of $2.74 million. From 2018 to 2019, the couple leased a luxurious property worth $4 million in McLean, Virginia, at a monthly rate of $20,000.
Joe Biden’s Career Journey
Joe Biden has had a long and distinguished career in public service: Biden was first elected to the U.S. Senate in 1972 at the age of 29, becoming one of the youngest people ever elected to the Senate.
He went on to serve in the Senate for 36 years, establishing himself as a leader on issues like criminal justice, foreign policy, and drug policy.
As a senator, Biden chaired the Senate Foreign Relations Committee and the Senate Judiciary Committee. He played a pivotal role in shaping U.S. foreign policy, particularly on issues related to terrorism, weapons of mass destruction, and the Middle East.
In 2008, Biden was elected as the 47th Vice President of the United States, serving two terms under President Barack Obama.
As Vice President, Biden led efforts to address economic, social, and security challenges in the Western Hemisphere, including launching initiatives to promote middle-class prosperity and security in the region.
After leaving the Vice Presidency in 2017, Biden ran for President in 2020 and was elected the 46th President of the United States, defeating incumbent Donald Trump. As President, Biden has focused on issues like the COVID-19 pandemic, economic recovery, and climate change.
Throughout his long career, Biden has faced significant personal tragedies, including the deaths of his first wife and young daughter in a car accident in 1972, and the death of his son Beau from brain cancer in 2015. However, he has persevered and continued to serve the public with dedication and resilience.
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