Joe Bidden is currently the US President. He was from Delaware. His interest in politics started when he was in high school.
He served the senate of Delaware during his early ages. Then, he was granted the Democratic nomination for US Presidency soon after. Joe became Barack Obamas’ Vice President in 2008.
After becoming the US Vice President, he had to leave the White House and continue his ways of earning an income with his wife, Jill Biden.
Full Name: Joseph Robinette Biden Jr.
Age: 78 years old
Date of Birth: Nov. 20, 1942
Height: 6 ft. (1.83 m)
Profession: Lawyer, Politician
Joseph Robinette Biden Jr. is his complete name. He is known to be called Joe Biden. He was born on November 29, 1942, in Scranton, Pennsylvania.
Joe was raised along with his three siblings. They are a Catholic family. Despite their religious life, they’ve had hard times in life. His father was unfortunate and couldn’t find work to earn a living for the family.
It was during the ’50s during the economic decline in Scranton. To survive, their family had to move to Delaware. Joe’s father became a used car salesman.
Joe Biden was sporty during his high school years. He joined the football team. Then, he was elected the class president. See? He started to get interested in politics as early as high school.
Not only that, Joe continued his desire to play football. He still played the sport while he’s in college and attended the University of Delaware. He was double-majoring in history and political science and graduated in 1965 with a bachelor’s degree.
Joe earned a law degree at Syracuse University College of Law in 1968. He used to be famously accused of plagiarism during his stay at the university.
He deferred his draft during the Vietnam era as a student. It was called Operation Delaware – a joint military operation launched during the Vietnam War.
Biden worked after he graduated from college. First, he became a law clerk. Then, he acted as a public defender and started his law firm.
In 1969, he started to be involved in real-world politics. He ran for a seat on the New Castle County Council and won the election. Of course, a dreamer like Biden doesn’t limit himself from such sights. But, he set his aim to the US Senate position.
In 1972, he won the US Senate election in Delaware. He had a small chance of winning but he did. He was the youngest senator in US history.
It was in 1987 when Joe Biden ran for presidency under the Democratic nomination. During the election, he was accused of plagiarizing a speech. The controversy went further that led Biden to withdraw from the race.
In 2008, he tried to acquire the Democratic nomination. Biden had many bright points but his comments against Barack Obama and Indian people ruined his campaign. He had a hard time raising funds for the campaign and didn’t take it seriously as Hillary Clinton or Obama’s contender.
Unexpectedly, Barack Obama made him the vice president. Joe gave up his position in the Senate at Delaware to serve Obama’s administration. Recently Joe Biden became the Democratic nominee for US president (2020).
Sources of Income
Now that you’ve known Joe Biden’s life background and early career, it’s about time to know about his income sources. Apart from his salary as a politician, Joe has managed to grow other sources of income too.
Joe, and his wife Jill Biden, had to leave the White House after his term as the US Vice President. They had their ways to continuously earn. They had several speaking engagements and book deals that made them earn at least $15 million.
Joe Biden has a good talent in public speaking and he became in demand. He often earns hundreds of thousands of dollars for a single sitting. He earned $190,000 for his speech at Drew University in New Jersey way back in 2018.
In total, he had 40 speeches from 2017 to 2018. He received 5-figure or 6-figure paydays each time. How amazing!
Joe has become fortunate in book deals. He and his wife signed a $10-million, three-book deal. And, money is continuous from then on.
He wrote the book Promise Me, Dad. It was a book about his son’s death. Joe promoted this book with a tour and made over 40 stops. The basic ticket of his tour costs $25 while the VIP tickets cost $450.
Over the years, Joe’s tax returns have continuously fluctuated. His earliest record date was from 1998. He already earned $215,432 during this year.
Joe Biden continued to earn around $200,000 just until 2009 when it started to increase by $55,000 per year. He started to age and he’s starting to earn from his social security and pensions.
In 2016, Joe Biden prepared to leave the office as the vice president. He was already earning $400,000 per year. By 2017, the numbers have changed dramatically. Joe Biden reached an income of $11 million.
Although in 2018, things have passed slowly. His earnings went down to $4.6 million.
Jill Biden Salary
Joe’s wife earns $100,000 per year as a teacher. She was teaching at Northern Virginia College.
Here are Joe Biden’s earnings according to tax returns.
2016 – $400,000
2017 – $11 million
2018 – $4.6 million
2019 – $944,737
Joe Biden, like among other rich men, also has debts. It was revealed that he has struggled for years because of a home in Delaware. It was his only financial asset back in the day.
He took multiple loans to save his house. He borrowed cash against his life insurance policies which are a maximum of $50,000. He even took a mortgage on his home in 2013 and owed between $500,000 to $1 million for the property.
The federal financial disclosures show a monthly earning of $2,200 by renting out the couple’s guest house to members of the Secret Service while Joe Biden was still the US Vice President. Of the times that went by, they earned a total of $170,000 as rental income.
Joe Biden Total Net Worth
Joe Biden has this primary residence situated in Greenville, Wilmington, Delaware. It was a huge home overlooking a man-made lake. It was originally built by wealthy members of the du Pont family.
The couple bought it for $350,000 in 1997. They sold similar homes from the area. Those were sold for more than $2 million.
In 2017, the couple paid $2.74 million for a vacation home. It was big with 6 bedrooms. It can be found in Rehoboth Beach, Delaware.
Between 2018 and 2019, they rented a mansion in McLean, Virginia. It was a $4 million-worth mansion that they rent for $200,000 per month.
Joe Biden was known to be the “poorest” member of the congress or the “middle-class Joe”. But, look at his earnings now. His net worth is $9 million.