President Joe Biden, the 46th and current President of the United States, has been active as a government official since he was elected to the United States Senate at the age of 29, the youngest person ever to do so. Biden served as a Senator from Delaware for 36 years, then became the 47th Vice President in the Obama Administration, and was elected to the White House in 2020.
Forbes magazine estimates that President Biden and First Lady Jill Biden have a net worth of approximately $10 million.
The Biden family’s wealth comes from presidential salaries, real estate, pensions and annuities, accounting royalties, and more. President Biden’s income and net worth in 2023 are as follows:
Biden’s 2023 income
According to tax returns released by the White House in April 2024, President Biden and the First Lady earned about $620,000 before taxes in 2023. This figure is higher than the $580,000 the Bidens reportedly earned in 2022. The president and first lady paid about $147,000 in federal income tax last year at an effective tax rate of 24%. The effective tax rate is the percentage of an individual’s taxable income that they pay in taxes.
Biden earns $400,000 a year as president, while First Lady Jill Biden earns about $86,000 a year from her full-time teaching job teaching English at Northern Virginia Community College. In 2023, the Bidens also earned about $55,000 in taxable benefits, $35,000 in pensions and annuities, and $39,000 in interest. The Bidens also earned about $4,100 from book royalties collected through a limited liability company (LLC) they own.
Biden’s net worth
Forbes magazine reported that Biden had an estimated net worth of $8 million when he took office as president in 2021, and that it has increased by 25% since then, due to his presidential salary, rising real estate values, and a strong stock market that increased the value of his investments.
The Bidens also reported making charitable donations of $20,477 to 17 different charities, including the Beau Biden Foundation, the Tragedy Assistance Program for Survivors, and the National Fraternal Order of Police Foundation.
Biden’s royalties from books and speaking engagements
Biden has made millions of dollars in the past from book royalties and speaking engagements. According to Forbes, the Bidens made more than $15 million in the two years following the Obama administration, most of which came from book deals and speaking engagements. During the same period, Biden also made more than $540,400 for his position as the Benjamin Franklin Professor of Presidential Practice at the University of Pennsylvania.
Real Estate
In addition to his presidential salary and other side income, much of Biden’s wealth comes from real estate. Biden owns two properties in Delaware, one of which is a 5,000-square-foot villa with an estimated value of $4.5 million (according to Forbes). The other is an estate in Wilmington, Delaware, valued at $2.5 million.
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