What is President Joe Biden’s net worth?
PRESIDENT Joe Biden has been open about his financial history throughout his presidency.
has made his career in politics last, along with accumulating an impressive net worth.
What is Joe Biden's net worth?
When Biden left back in 2017, he only had an estimated net worth of $2.5 million, since then according to Forbes, Biden now has an estimated net worth of $8 million as of June 2021.
While Biden and his wife earned $17.3 million during the four years Biden spent out of office, Forbes reported that of that amount, $7 million went to taxes, $1.3 million went to donations to different charities, $180,000 went to Biden's staff and $80,000 went towards interest on mortgages for the couples properties.
While that still leaves more than $8 million, Forbes said The White House did not respond to requests about what he did with the remaining money.
In 2007 his net worth was reportedly in the negatives due to all the outstanding mortgages he had when he took out loans in his early adulthood.
"When you look at the Bidens’ tax returns, what you see is, a couple who over the course of their lives have accumulated things like pensions, life insurance, some savings. And it's not some big, calculated plan to be this ultra-high net worth individual," Megan Gorman, an attorney and managing partner at a financial planning firm for high net worth individuals, told Forbes.
What's his career history?
Biden graduated with a law degree in 1968, qualifying for the Delaware bar in 1969.
He then went on to join Wilmington law firm before serving as a public defender for another, Democratically-owned firm.
Biden joined the Newcastle county council in 1969, where he campaigned for public housing in the suburbs before defeating Republican incumbent J. Caleb Boggs to become the junior US senator from Delaware in 1972.
He was sworn into the United States Senate the following year, where he ramined until 2009.
In 1988 Biden formally declared his candidacy for that year's Democratic presidential nomination but was accused of plagiarizing British Labour politician Neil Kinnock's speeches and his campaign dissolved.
He ran for President again in 2008 before running and becoming elected as Obama's Vice President.
He remained in the role from 2009 through to 2017.
He also served on a number of Senate committees.
In 2020, Biden was then elected as the 46th President of the United States.
How many homes does Joe Biden own?
While the President is residing in The White House, Biden and his wife own several homes in .
The Biden's own a home in Wilmington, the same home Biden debating on selling after his son, , was diagnosed with brain cancer. After former President helped Biden's family financially, they kept the home and still own it today.
In 2017, the Bidents bought a second property, a $2.7 million house in Rehoboth.
"Throughout our careers, Jill and I have dreamed of being able to buy a place at the beach at home where we can bring the whole family," Biden told the Cape Gazette after purchasing the home.
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"We feel very lucky that we're now able to make that happen and are looking forward to spending time with our family in the place that matters most to us in the world."
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