Joe Biden Net Worth: How Much Does the 46th U.S. President Earn?

It’s a well-told tale that Biden used his notoriety to sell books and give speeches, eventually becoming wealthy after serving as vice president.

A deeper examination of the calculations, makes you wonder why Joe Biden isn’t wealthier. As of 2023, President Biden’s net worth decreased to an estimated $10 million from $8 million according to Forbes.

How is Joe Biden spending his money? Does the biggest portion go to his wife Jill? Or, does he spend it all on himself? 

Here’s everything you need to know about Joe Biden’s wealth, how he got rich, his properties, total net worth, and more.

How much money does President Joe Biden earn annually?

In addition to his $400,000 annual salary, the president also receives approximately $250,000 in pension benefits.

What assets does President Joe Biden have?

Joe Jr.’s father gave him a 1967 Corvette Stingray when he got married to his first wife in 1967, spending $5,600 (or $51,000 in today’s currency). Currently valued at an estimated $100,000, the car is still kept in the president’s garage.

The president also has two houses in Delaware that are estimated to be worth $7 million in total, which is $1.8 million more than they were when he assumed office.

At an estimated $4.5 million, his most valuable asset is a 4,800-square-foot summer home in Rehoboth Beach. In 2017, after stepping down as vice president, Biden purchased it with $11.1 million, profiting from speeches and books. November of that year, he added a pool that might have cost as much as $75,000.

After being purchased for $1.7 million less, the home is currently estimated to be worth $4.5 million.

In Wilmington’s lovely Greenville neighbourhood, he owns an even larger but less valuable home.

Biden paid $350,000 for the land in 1996, and two years later, he added a colonial-style 6,850 square feet of house, followed by a 1,900 square feet cottage in 2005. The estimated value of the property today is $2.5 million, which is $700,000 more than it was two years ago.

In 1975, he acquired an even larger home, a 10,000-square-foot estate that had once belonged to the illustrious DuPont family of Delaware. The house was stunning, featuring a colonnade, circular drive, pool house, and courtyard.

He borrowed $160,000 to pay $185,00 for the property, even though he was only making about $43,000 as a U.S. senator at the time.

After selling the mansion in 1996 for $1.2 million, he paid $350,000 for a nearby plot of land on which he intended to construct a new house overlooking a pond.

The property became the Wilmington estate that Biden now owns after he built two houses on it.

He reportedly received $26,400 a year in cottage rentals from the Secret Service after he was appointed vice president.

Biden can always take out a loan against his assets if he needs more liquidity in the future.

How much money did Joe Biden earn as vice president?

Before being elected commander in chief in 2020, the former vice president made $11.1 million in 2017, $4.6 million in 2018, $1 million in 2019, and $630,000 in 2020. 

As a senator, Biden made about $43,000 annually.

From an estimated $2.5 million to $8 million, his net worth increased dramatically between his tenure as president and vice president.

How does Joe Biden manage money as a president?

The way he manages money is quite different from how Trump managed his at the time he was president.

Budgeting for the middle class over the wealthy is Biden’s steadfast goal.

How much money did Joe Biden make from selling books?

When “Promises to Keep,” Biden’s debut memoir, was released in 2008, he received $71,000 in royalties and $9,500 for the audiobook rights.

Based on taxes filed and examined by Forbes, the Bidens made over $15 million between 2017 and 2019. He received a $8 million second book deal, $1.8 million from book tour events, and $2.4 million in speaking fees.

How else has Joe Biden earned income?

He also made $775,000 from the University of Pennsylvania, where he was appointed Benjamin Franklin Presidential Professor of Practise and will head the Penn Biden Centre for Diplomacy and Global Engagement.

What is Joe Biden’s net worth as of 2023?

Forbes claims that although his net worth was $2.5 million while he was still vice president, it skyrocketed to $8 million in the years after holding political office. Biden’s estimated net worth currently stands at around $8 million.

Conclusion

Despite earning a consistent salary as a politician, Biden’s riches primarily stem from book deals and speaking engagements. Beginning in 1973, Biden’s annual salary in the Senate was $42,500; upon his departure in 2009, his salary had risen to $169,300.

As vice president, his pay skyrocketed to $230,700, and as president, he makes $400,000 annually. His net worth currently stands at around $8 million.