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Joe Biden net worth in 2024 is estimated to be $10 million. Joseph Robinette Biden Jr., born on November 20, 1942, in Scranton, Pennsylvania, is the 46th President of the United States. He attended the University of Delaware and Syracuse University College of Law, beginning his political career in 1970 on the New Castle County Council. At 29, he became one of the youngest U.S. Senators, representing Delaware from 1973 to 2009. During his Senate tenure, Biden focused on criminal justice, foreign policy, and civil rights, playing a key role in the Violence Against Women Act of 1994. President Biden and the First Lady made about $620,000 before taxes in 2023, according to their tax return released by the White House in April 2024. Joe Biden Biden earns $400,000 a year as president. First Lady Jill Biden earns about $86,000 a year for her full-time teaching job at Northern Virginia Community College. About two-thirds of President Joe Biden net worth is in real estate. He has been buying and selling homes in Delaware and nearby areas for many years. During the pandemic, the value of Biden’s beach house rose to $4.5 million from the $2.7 million he paid in 2017, as people sought more space outside cities. However, high interest rates have now stopped the increase in his home values. In 2022, Biden opened a $250,000 line of credit and borrowed over $100,000 by the end of the year. This line of credit has a variable interest rate of 1.99%, meaning the cost of borrowing can change with interest rates. Former President Donald Trump formally accepted the GOP nomination for the 2024 presidential election on the final night of the Republican National Convention. His acceptance speech, delivered in Milwaukee, Wisconsin, highlighted his campaign’s key themes, including immigration, inflation, and foreign policy. Trump also recounted his survival from an assassination attempt that occurred during a rally in Pennsylvania. President Joe Biden has dropped out of the 2024 presidential race following a disastrous debate performance that raised significant concerns about his age and ability to continue the campaign. This decision comes after mounting pressure from within his own party, as many Democrats questioned his viability as a candidate against his Republican opponent. Biden’s withdrawal opens the door for other potential candidates to step in and vie for the Democratic nomination. Here’s everything to know about Joe Biden net worth. What is Joe Biden Net Worth in 2024?Joe Biden net worth is about $10 million, according to Forbes. He owns two homes in Delaware: a mansion in Wilmington and a summer house in Rehoboth Beach. President Joe Biden, the 46th and current U.S. president, has been an elected official since he was 29. He became one of the youngest people elected to the U.S. Senate. Biden was a senator from Delaware for 36 years. He then became the 47th Vice President under the Obama administration and was elected President in 2020. Joe Biden Net Worth Highlights
Joe Biden 2023 EarningsPresident Biden and the First Lady earned about $620,000 before taxes in 2023, according to their tax return released in April 2024 by the White House. This amount increased from the $580,000 they earned in 2022. The Bidens paid about $147,000 in federal income taxes last year, with an effective tax rate of 24%. The effective tax rate is the percentage of someone’s taxable income that they pay in taxes. Biden earns $400,000 annually as president, and First Lady Jill Biden earns about $86,000 annually for her full-time teaching job at Northern Virginia Community College, where she teaches English. In 2023, the Bidens also earned approximately $55,000 in taxable Social Security benefits, $35,000 in pensions and annuities, and $39,000 in interest. They also earned about $4,100 from book royalties, collected by an LLC they have. Donald Trump Net Worth vs Joe Biden Net Worth
Joe Biden Royalties From Bidens’ Books and Speaking EngagementsSince leaving the White House, Joe Biden and his wife Jill have earned substantial income from book royalties and speaking engagements. From 2017 to 2019, they reported earning a combined total of $16.5 million, with most of this income coming from book deals and paid speeches. In 2017 alone, they earned $11 million, followed by $4.5 million in 2018 and over $944,000 in 2019. Joe Biden’s speaking fees ranged from $66,000 to $182,679 per event, totaling 18 speeches in 2017 and 2018. Additionally, he held a position at the University of Pennsylvania, earning over $400,000. Jill Biden also contributed to their income with her book royalties and 17 speaking engagements, earning between $25,000 and $46,000 per speech. Joe Biden Net Worth (Real Estate)The President owns two homes in Delaware. They are now worth about $7 million together. When he became President, these houses were worth $1.8 million less. Thanks to the booming real estate market, their value has gone up by that amount. Joe Biden has always liked real estate. When he was about 25 years old, he bought three homes and 85 acres in Maryland. He wanted to make a big family place there. Before, he turned these homes into places for rent. Instead of living in those homes, Biden and his family stayed in a nearby cottage for free. He got to stay there without paying because he was taking care of the local swimming pool.
In his role as president, Biden receives a salary of $400,000. According to White House financial records released in May 2023, Biden’s assets ranged from $1 million to $2.65 million in 2022, which was essentially unchanged from his first full year in office in 2021. Joe Biden Political CareerJoe Biden became one of the youngest senators ever in 1972. He was elected to represent Delaware in the Senate when he was just 29 years old. Sadly, right after he was elected, he faced a big tragedy. His first wife, Neilia, and their little daughter, Naomi, died in a car accident. This sad event made him start taking the train to the Senate.
Some of Biden’s political highlights include:
Joe Biden Tax ReturnsOn April 18, 2023, the Bidens made public the couple’s tax returns for the year 2022, revealing their income. Joe Biden and the First Lady made money from two main places: Biden’s $400,000 salary as president and the First Lady’s $82,335 salary as a teacher at Northern Virginia Community College. Their taxes show they made $579,514 together after adding in other money from things like Social Security and interest. They paid $169,820 in taxes to the US government, Delaware, and Virginia. Their US tax rate was 23.8%. But, they still had to pay the government $4,632 more. The good news? They got a little back – $846 from Virginia and $10 from Delaware. ConclusionJoe Biden’s net worth is estimated to be around $10 million. This wealth comes primarily from his two homes in Delaware, significant book royalties, and speaking engagements after serving as Vice President. Biden’s financial success has grown considerably since leaving office in 2017, leveraging his long career in public service and his public persona to secure lucrative deals. Despite his current wealth, Biden has often emphasized his middle-class roots, which resonate with many of his supporters. This financial background provides an interesting contrast to the wealth of other political figures, such as Donald Trump. Joe Biden Net Worth 2024 (US President Net Worth) – FAQsWhat is Joe Biden net worth?
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