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The Ins and Outs of President Joe Biden’s Net Worth

Discover the vast nuances of 'Joe Biden Net Worth', delving into his salary as the U.S President, the surprising insights about Jill Biden’s wealth, and key aspects around presidential earnings. Explore the world of Joe and Jill Biden through the lens of their financial panorama.
by Rob Gillham | Dec 5 2023
Credits: ARD

Despite spending most of his life committed to public service, Joe Biden’s (81 years old) net worth resonates with the American public’s curiosity. As the 46th President of the United States, everyone is keen to uncover details about the financial prowess associated with his political career.

Grab yourself a cup of coffee as you dive deep into President Joe Biden’s net worth, comprehensive coverage of his annual income, and the financial nuances interlaced with his political life. 
 

President Joe Biden’s $10 Million Net Worth and Real Estate Assets

President Biden’s net worth is estimated at $10 million, witnessing a leap from $8 million since his inauguration. Notably, this jump has no connection to international family enterprises.

Instead, President Biden has added to his riches much like several American octogenarians: by investing in real estate. The President has an ownership stake in two Delaware residences, cumulatively assessed at approximately $7 million, marking an increase of $1.8 million since his presidency initiation. 

His most prized possession is a summer house, a 4,800-square-foot property in Rehoboth Beach. This piece of real estate, valued at an estimated $4.5 million, was purchased by Biden in 2017, post his Vice-Presidency tenure.

He further invested upwards of $75,000 for a swimming pool that year. A significant expense at the onset, it transformed into an astute investment over a short period.

Amid the pandemic, this property, just seven minutes away from the ocean and neighboring a state park thriving with biking trails, increased its valuation by $1.7 million. 

Biden also owns a larger, albeit lesser valuable, property in the scenic neighborhood of Greenville, Wilmington. The journey from a piece of land bought for $350,000 in 1996 to a home consisting of a 6,850-square-foot, colonial-style building and a 1,900-square-foot cottage built over a decade later is noteworthy.

Over the years, this property served as Biden’s most important asset, which he refinanced repeatedly before his financial windfall in 2017. Today, it’s valued at approximately $2.5 million, $700,000 higher than two years ago.

Consequently, Biden’s real estate investments constitute nearly two-thirds of his personal wealth.
 

First Lady Jill Biden’s Net Worth

Dr. Jill Biden (72 years old) has been by President Biden’s side throughout his political journey. The First Lady’s financial fortune is also a point of public interest.

As a former high school teacher, professor, and author, Jill Biden’s net worth is tied directly to that of her husband and is estimated to be approximately $10 million

Besides being the First Lady, Jill Biden continues her life-long dedication to education. She has resumed her work as an English professor at Northern Virginia Community College, marking her as the first First Lady to maintain a full-time job during her tenure.
 

Financial Tidbits about the President’s Salary

As the President of the United States, Joe Biden earns a yearly salary of $400,000. This figure doesn’t include a $50,000 annual expense account, a $100,000 nontaxable travel account, and $19,000 for entertainment expenditures.

The president’s income is taxable, and they are required to pay taxes. After their tenure, presidents are entitled to a pension equivalent to the pay of the head of an executive department (Executive Level I), which is $219,200 per annum as of 2020. 
 

Biden’s Tax Payments 

Promoting transparency, President Biden has consistently released his tax returns. In 2019, the Bidens paid nearly $300,000 in federal income taxes, with an effective tax rate of approximately 30%. 
 

The Four Presidential Powers

Addressing political dynamics, the 4 powers of the president encompass executive powers, legislative powers, judicial powers, and the power to direct foreign policy. These powers grant the president the ability to execute laws, veto legislation, appoint federal judges, and formulate national security strategies. 
 

Biden’s Achievements

Throughout his political career, Biden has chalked up some significant accomplishments. This includes contributing to the passage of the Affordable Care Act, facilitating the Recovery Act after the 2008 financial crisis, and signing environmental protections into law. 

A myriad of factors formulate President Joe Biden’s net worth. It’s a blend of dedicated years in public service, topped with the shared assets with his wife, Jill Biden. To gain a deeper insight into Joe Biden’s life, struggles, and political journey, we encourage you to read his book Promises to Keep.

It’s a thoroughly riveting memoir that provides an intimate look at the life of the 46th President. With Blinkist, you can take your learning of US politics even further and check out the 44 best books on American Presidents that have to be read. 

Remember, you can enjoy a free 7-day trial on Blinkist right now. Don’t miss out on this opportunity to engage with the compelling life story of President Joe Biden.

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