Joe Biden is the 46th and current president of the United States, as well as a former senator and vice president. He has been in public service for over five decades and has made significant contributions to the nation’s domestic and foreign affairs. He is also a devoted family man, a bestselling author, and a passionate speaker. But how much is Joe Biden net worth 2023? And how has his wealth changed over time? This article will explore Joe Biden net worth 2023 and the factors that influence it. We will look at the sources of his income, such as his salary, book deals, and speaking fees.
Joe Biden Net Worth 2023:
Joe Biden Net Worth 2023 is 9 million. One of the main sources of Joe Biden’s income is his public service as a senator and a vice president. According to Forbes, Joe Biden earned $15.6 million from 2017 to 2019 after he left the White House as Barack Obama’s second-in-command. Most of this income came from his speeches and books, which he wrote or co-wrote with his wife, Jill Biden.
As a senator, Joe Biden earned a salary of $169,300 in 2008, his last year in office. As a vice president, he earned a salary of $230,700 in 2016, his last year in office. As a president, he earns a salary of $400,000 per year, the same amount his predecessors Donald Trump and Barack Obama earned.
Another source of Joe Biden’s income is his book deals. He has written or co-written several books, such as Promises to Keep (2007), Promise Me, Dad (2017), and American Crisis: Leadership Lessons from the COVID-19 Pandemic (2020). According to Wealthy Gorilla, He received an advance of $8 million for his memoir Promise Me, Dad, published in 2017. He also received an advance of $10 million for his book American Crisis, published in 2020.
A third source of his income is his speaking fees. He has delivered speeches at various events and venues, such as universities, conferences, and corporate gatherings. According to Forbes, Joe Biden charged an average of $100,000 per speech from 2017 to 2019. He also received $190,000 for a speech at Drew University in New Jersey in 2018.
These are some of the sources of Joe Biden’s income that have contributed to his net worth in 2023.
Joe Biden Net Worth 2023: Assets
Another aspect of Joe Biden’s net worth in 2023 is the value of his assets, such as his two homes in Delaware and his 1967 Corvette Stingray. In this section, we will describe the features and amenities of his properties and the current value of his car.
Joe Biden owns two homes in Delaware, one in Greenville and one in Rehoboth Beach. His main residence in Greenville is a 6,850-square-foot house that he built on four acres of secluded, lakefront land in 1996. According to Zillow, the lot was purchased for $350,000, and the property is now estimated to be worth more than $1 million, though a real estate expert put that figure closer to $2 million. The house has six bedrooms, six bathrooms, a pool, a gym, and a cottage. It also has a secure space for classified materials, as Biden mentioned in 2023.
His second home in Rehoboth Beach is a three-story house he bought 2017 for $2.7 million. The house overlooks Cape Henlopen State Park and is just a few blocks from the beach. It has six bedrooms, expansive porches, views of the Atlantic Ocean, and a backyard built for entertaining, with an outdoor kitchen, BBQ, and fireplace. However, the house also faces extreme flood risk as climate change worsens.
Joe Biden’s most prized possession is his 1967 Corvette Stingray convertible, a wedding gift from his father in 1967. The car is dark green with a brown leather interior and has a 327 cubic inch L79 V8 engine rated at 350 horsepower with a four-speed manual transmission. It is capable of going 0 to 60 mph in 5.8 seconds. The car is worth well over $100,000 today and has sentimental value for Biden, who associates it with his father and late son Beau. These are some of the assets that Joe Biden owns that have contributed to his net worth in 2023.
Joe Biden Net Worth 2023: Factors
Besides his income and assets, Joe Biden’s wealth is influenced by various factors affecting his expenses and challenges. In this section, we will discuss some of the costs that he has to pay, such as taxes, mortgages, and charitable donations, as well as some of the difficulties that he faces in managing his wealth, such as potential conflicts of interest, ethical issues, and public scrutiny.
One of the major expenses that Joe Biden has to pay is taxes. According to his 2022 federal income tax return, he and his wife paid $137,658 in federal income tax, which amounts to a 23.8 percent effective tax rate. They also paid $29,023 in Delaware income tax and $3,139 in Virginia income tax. They paid $169,820 in combined federal and state income taxes in 2022. This represents a significant increase from their 2020 tax bill when they paid $92,200 in federal income tax and $14,700 in state income tax. This increase is because Biden’s income rose substantially after he became president and received a higher salary than when he was a private citizen.
Another expense that Joe Biden has to pay is mortgages. He has two homes in Delaware, one in Greenville and one in Rehoboth Beach, worth an estimated $7 million combined. According to public records, he took out two mortgages on his Greenville property in 2013 and 2017, totaling $1.2 million. He also took out a $2.7 million mortgage on his Rehoboth Beach property
in 2017. The interest rates on these mortgages range from 3.375 percent to 4.25 percent. Based on these figures, Biden’s monthly mortgage payments are estimated at around $15,000.
A third expense that Joe Biden has to pay is charitable donations. He and his wife reported contributions of $20,180 to 20 different charities in 20221. The largest gift to charity was $5,000 to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse. They also donated to St. Joseph on the Brandywine, their home parish, to the Tragedy Assistance Program for Survivors, and the National Fraternal Order of Police Foundation, among other charities. However, their charitable giving in 2022 was lower than in previous years. In 2021, they gave $30,704 to charity; in 2017, they gave more than $1 million to charity.
Besides these expenses, Joe Biden also faces challenges in managing his wealth. One of them is potential conflicts of interest. As the president of the United States, he has to deal with various domestic and foreign issues that may affect his personal or family interests. For example, he has been interviewed by a special counsel investigating his improper retention of classified documents from his time as a senator and vice president. He also faces ethical concerns over his son Hunter Biden’s business dealings with foreign entities such as China and Ukraine.
These are some of the factors that affect Joe Biden’s wealth in 2023. In conclusion, we have seen how Joe Biden net worth 2023 is influenced by his income sources, asset values, expenses, and challenges.
In this article, we have explored Joe Biden net worth 2023 and the factors that influence it. We have seen that Joe Biden has earned money from his public service as a senator and a vice president, as well as from his speeches and books. Joe Biden net worth 2023 is $9 million. Joe Biden net worth 2023 reflects his values, achievements, and challenges. It shows that he has worked hard for his country and his family and has faced hardships and losses. It shows that he has been successful and influential in his career and has been limited and constrained by his role.