Biden, an American politician with a net worth of $9 million, is the son of a former senator. Joe served as the United States Senator for the state of Delaware from 1973 to 2009. From 2009 to 2017, he served as Vice President of the United States under President Barack Obama, a position he held for eight years.
In 2020, he was nominated by the Democratic Party to run for President of the United States, against Donald Trump, and he won. In November 2020, he defeated Donald Trump in a landslide victory (both in the electoral college and in the popular vote) to become the 46th President of the United States of America.
Joe Biden Biography
Joseph Robinette Biden Jr. ( born November 20, 1942) is an American politician who is the 46th and current President of the United States. Biden was born in Philadelphia, Pennsylvania. He was a member of the Democratic Party who served as the 47th Vice President from 2009 to 2017 under President Barack Obama. He previously represented Delaware in the United States Senate from 1973 to 2009, and he was elected to the Senate in 1973.
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Early Life
Joseph Robinette Biden Jr. was born on November 20, 1942, in Scranton, Pennsylvania, to Joseph Robinette Biden Sr. and Joseph Robinette Biden Jr. Joe grew up in a Catholic family with three siblings, but his family experienced financial difficulties when he was a child.
During the 1950s, his father struggled to find work in Scranton, which was experiencing an economic downturn at the time. After a while, the family was forced to relocate to Delaware, where Joe’s father went into the used car business.
Joe Biden was a member of the football team during his high school years, and he was also elected class president. When he was at the University of Delaware, he also participated in college football while pursuing a double major in history and political science there. He earned a bachelor’s degree from the University of Michigan in 1965.
Joe continued his education at the Syracuse University College of Law, where he graduated with honors in 1968. The accusations of plagiarism leveled against him during this period were well-known. During the Vietnam War, Biden was able to defer his military service because he was a student.
Joe received a medical deferment for asthma after graduating from high school and becoming eligible once more. This was despite the fact that he had been an athlete his entire life.
Career
Following graduation from college, Biden worked as a law clerk before becoming a public defender and eventually founding his own law firm. It was in 1969 that he first became involved in politics, running for a seat on the New Castle County Council. He was elected and immediately set his sights on becoming a candidate for the United States Senate.
Despite being a clear underdog, he was elected to the United States Senate in Delaware in 1972. He was one of the youngest senators in the history of the United States, having been elected at the age of thirty. Following a lengthy tenure in the United States Senate, Joe set his sights on the ultimate prize: the Presidency of the United States.
In 1987, he ran for the Democratic nomination for President, but he was disqualified after being accused of plagiarising a speech he delivered. The further controversy eventually resulted in Biden withdrawing from the presidential election campaign.
In 2008, Biden attempted to win the Democratic nomination for a second time. Despite the fact that his campaign had many positive aspects, Biden’s remarks about President Barack Obama and Indian people proved to be major gaffes.
He also struggled to raise funds and was never a serious contender against either Hillary Clinton or Barack Obama in the general election. In the end, however, Barack Obama appointed him to the position of vice president.
In 2008, he resigned from his position as a senator to work in President Barack Obama’s administration. Joe Biden was nominated by the Democratic Party for President of the United States in 2020.
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Personal Life
While still a college student, he met and fell in love with Neilia Hunter, with whom he married on August 27, 1966, while still a student of law at the University of California at Berkeley. During their marriage, they had three children: two sons and a daughter.
He was left to care for the surviving children with his wife after their daughter and wife were killed in a tragic accident in 1972, leaving him to care for them alone. In 1975, Biden met Jill Tracy Jacobs, who had a profound impact on his life and instilled a sense of purpose in him.
The couple eventually fell in love and tied the knot in New York City on July 4, 1977. It turns out that the couple is the parents of a daughter. When his son Beau Biden died from brain cancer at the age of 46 on May 30, 2015, Vice President Joe Biden was struck by tragedy for the second time in his life.
Joe Biden’s Net Worth
Biden, an American politician with a net worth of $9 million, is the son of a former senator. Joe served as the United States Senator for the state of Delaware from 1973 to 2009. From 2009 to 2017, he served as Vice President of the United States under President Barack Obama, a position he held for eight years.
Presidential Salary
Joe Biden receives a base salary of $400,000 as President of the United States, according to Title 3 of the United States Code. Also available to him are a $50,000 annual expense account, a $100,000 nontaxable travel account, and a $19,000 annual entertainment stipend, among other benefits.
The Bidens received a $100,000 grant before moving into the White House, which they used to redecorate their new home.
Joe Biden Wealth Details
Joe Biden’s net worth was estimated to be $1.5 million at the time of his resignation as Vice President, according to his most recent financial disclosure. While serving in Congress for many years prior to becoming Vice President, he referred to himself as one of the “poorest” members of Congress, or “middle-class Joe,” because he had a net worth of less than $500,000.
In the years following his departure from the White House, he earned a significant amount of money, primarily from speeches and book royalties, reaching a peak of $11 million in 2017. Joe and Jill earned slightly less than $17 million between 2016 and 2019, according to their financial statements.
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Inside President Joe Biden’s Wallet
Several successful years on the book and speaking circuit have resulted in an $8 million fortune for Vice President Joe Biden. He now owns two houses, each of which is worth more than $4 million (net debt), and he has at least $950,000 in cash on hand at all times.
After Biden was appointed Vice President, he received some additional income that he used to pay for his home. According to reports, he rented out his Wilmington property for $26,400 a year, reportedly leasing it to the United States Secret Service, which is in charge of protecting him. This was a typical Trump move.
Just because you’re strapped for cash doesn’t imply that you’re bankrupt. When Biden stepped down from the presidency in 2017, he was estimated to be worth $2.5 million. In addition to a life insurance policy and a couple of retirement accounts, he had a Delaware home and a federal pension that provided him with an annual income of approximately $160,000 for the rest of his life, which accounted for the majority of his net worth.
In June 2017, Biden paid $2.7 million for a 4,800-square-foot summer home in Rehoboth Beach, Delaware, fulfilling a long-standing promise to his wife, Jill Biden. It turned out to be a good investment: the house is now estimated to be worth $3.4 million, an increase of approximately 25% from the price they paid for it four years ago, thanks to the increase in home values that occurred during the pandemic.
Because Biden’s disclosure shows cash and retirement accounts worth between $1.2 million and $2.9 million, which is significantly less than the $5.5 million figure, it is reasonable to assume that Biden spent at least $2.6 million elsewhere. One possibility is that he will give gifts to his family.
Couples are allowed to give away up to $30,000 per year to anyone they choose without having to report it to the IRS. If Joe and Jill Biden gave the maximum amount possible to their two children, Hunter and Ashley, as well as their grandchildren, they would have more than $200,000 in annual income.
Or it’s possible that they simply spent it all, taking pleasure in their wealth without considering the long-term implications. In 2017, the Bidens upgraded their Rehoboth home with a new swimming pool.
Local pool professionals estimated that the project could cost more than $75,000 to complete. According to the Washington Post, the Bidens were also renting a 5-bedroom mansion in McLean, Virginia, for an estimated $20,000 per month in 2019.
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