Joe Biden turned from the poorest senator into a millionaire: where does the president get the money - ForumDaily
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Joe Biden from the poorest senator turned into a millionaire: where does the president get the money

When Joe Biden was a US Senator, he called himself "one of the poorest members" of Congress. But his fortune skyrocketed after he became vice president. New York Post.

Photo: IStock

It was thanks to a flood of cash from book deals and speaking engagements, as well as regular kickbacks from his brother and youngest son, according to text messages from Hunter Biden's laptop and a congressional investigation.

In 2016, his last year as vice president, "middle-class Joe" reported assets and incomes of $291 to $000 million, on top of his $1 vice president salary. He also claimed $230 to about $700 million in liabilities, according to his personal 780 financial disclosure form.

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But Biden's fortunes quickly changed between 2017 and 2020 with the help of both his son Hunter and his brother James, according to a congressional report.

In the year after he stepped down as vice president in 2017, Biden and his wife, Jill, made more than $11 million in the year after he stepped down as vice president in 4,6, according to Forbes, and made $XNUMX million the following year.

Where does Biden get millions from?

Salary

Biden currently earns $400 a year as president. According to Forbes, his salary as vice president was about $000. And in the years leading up to this job, he earned about $225 a year as a senator, plus another $000 teaching at Widener University.

In 2017, Biden was paid $540 for his work at the Penn Biden Center for Diplomacy and Global Engagement — the DC think tank where classified documents were discovered in November — and as the Benjamin Franklin Presidential Practice Professor at the University of Pennsylvania.

In 2019, as he began campaigning for the presidency, Biden took a leave of absence from university, cutting his salary to $135.

Speeches

Biden earned more than $4 million in late 2017 and 2018 from dozens of appearances, from $8 for a Miami Book Fair appearance to $040 for a book tour-related "VIP experience" in 235. Biden spoke at the World Economic Forum in Davos, Switzerland, and Harvard University in 000, and in 2017 he spoke at a Human Rights Campaign dinner, according to public reports.

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For her part, Jill Biden has reported 18 appearances totaling $700, earning between $000 and $25 per appearance after her husband stepped down as vice president in 000.

Upfront payments and royalties

Biden raised over $225 from Random House for his first book in 000, Promises to Keep.

Six years later, Jill reported the author's earnings of $24 from writing the 000 children's book Don't Forget, God Bless Our Troops, according to Forbes.

In 2017, Biden and his wife signed an $8 million joint contract with Flatiron Books to have Jill write one book ("Where the Light Enters") and Jo write two. Promise Me, Dad: A Year of Hope, Hardship and Purpose was released in 2017. When Biden's next book will be released is still unclear.

Mansion

The Bidens own a huge mansion in an upscale neighborhood of Wilmington, Delaware. It was here in the garage that a treasure trove of secret documents was recently discovered. It also houses a 1967 Corvette Stingray said to have been Biden's father's wedding gift. In 2016, the car was valued at $78 on the CNBC TV show Jay Leno's Garage.

The house, which has three bedrooms and four bathrooms, is located on 1,6 hectares of land in the suburb of Greenville, known as "castle country". Biden bought the land on Barley Mill Road for $350 in 000 after selling the property he named The Station for $1996 million.

The Greenville estate is now worth nearly $1,4 million, according to Zillow. Biden also rented a cottage on his Greenville estate to the Secret Service for $2200 a month while he was vice president, according to public records.

Between 2003 and 2014, the Bidens borrowed more than $1 million in real estate, according to public records.

beach house

Also part of Biden's estate is a six-bedroom beachfront home in Rehoboth Beach, Delaware, which he bought for $2,74 million in June 2017. The nearly 465-square-meter, five-bath home was built in 2007 next to Cape Henlopen State Park.

Public records show that after buying the property, the Bidens built an underground pool that includes a kitchen, multiple fireplaces, and even a dog wash station.

Social security, pensions

Now Biden is 80 and Jill is 71. The couple began receiving a hefty sum from Social Security in 2009, according to their tax returns: about $385 in benefits over the next decade, not to mention $000 from a pension fund.

Hunter Biden contribution

According to messages found on his laptop, Biden's son Joe Hunter, now 52, ​​has taken on a significant share of the responsibility for funding the family's luxurious lifestyle.

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In one post in January 2019, Hunter complains to daughter Naomi that he's been kicking off half of his earnings from lucrative board positions as well as his own firm's legal work to support his father and stepmother.

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