Joe Biden Net Worth 2022: How Wealthy Is the 46th President of the United States?

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United States President Joe Biden celebrated his first year in office last January, which has been met by serious issues such as the COVID-19 pandemic, economic woes, high inflation rate, infrastructure improvement, Climate change, and restoring “the soul of America.”

Joe Biden is the leader of the world's largest economy and most powerful country-- the United States of America. But are we not curious about how rich he is?

Last January, United States President Joe Biden celebrated his first year in office, which has been met by serious issues such as the COVID-19 pandemic, economic woes, high inflation rate, hurdles in his infrastructure improvement program, climate change, and restoring "the soul of America."

Moreover, the approval rating of the 79-year old head of a superpower state continues to struggle. According to a Reuters national poll in January, Biden only got 43% approval from US adults, while 52% disapproved of his performance in office.

But despite the weak points, Biden, a Democrat, managed to attain important achievements such as re-entering of the United States into the Paris Climate Accords, he fought to reconnect immigrant families that had been broken apart during the Trump administration and overturned restrictions forbidding openly transgender persons from serving in the military.

However, Biden still has lots of work to do in his term as the 46th President of the United States of America.

We’re investing $1 billion to make the most significant restoration and cleanup of the Great Lakes in its history.

Thanks to my Bipartisan Infrastructure Law, we will strengthen the region's economy, provide clean drinking water, and create more good-paying jobs. pic.twitter.com/3qmGaFZR0g
— Joe Biden (@JoeBiden) February 18, 2022

How wealthy is Joe Biden?

Joseph Robinette Biden Jr. was born to a typical family in Scranton, Pennsylvania, on November 20, 1942. His father, Joseph Robinette Biden Sr., was a salesman of used cars earning just enough to provide their family a middle-class lifestyle, with his wife Catherine "Jean" Biden and Joe's one sister and two brothers. Per Finty, Biden Jr. and his siblings were raised in the Claymont and Mayfield towns in Delaware.

Biden was able to provide a decent education to his three children with the help of loans. When his daughter Ashley was a Tulane University student in 2001, he was responsible for at least a half-dozen debts totaling more than $700,000.

But the University of Delaware alumnus grew his wealth through his career in politics. Biden earned millions in fees and royalties from speaking engagements and book sales in 2017. In 2018, he generated $4.6 million, $1 million in 2019, and $630,000 in 2020. Forbes reported that Biden and his wife Dr. Jill Biden earned around $17.3 million.

Joe Biden's net worth in 2022 is reportedly around $8 to 9 million through book sales, speaking engagements, and his stature as a public figure. As President of the United States, he receives a yearly salary of $400,000.

Biden's present net worth is a fraction of his lifetime earnings, mostly from his political career, of nearly $17 million. According to estimates, the President paid $7 million in taxes, $1.3 million in charitable donations, $80,000 in mortgage interest, and $170,000 in staffing fees.

Part of their earnings was used to purchase a 4,800-square-foot summer home in Rehoboth Beach, Delaware, worth $2.7 million. They also have a family home in Delaware estimated to be more than $1 million, per Yahoo! Finance.

What Happened to the Rest of Biden's Wealth?

In his latest financial disclosure report, according to Forbes, Biden declared cash and retirement accounts worth around $1.2 million and $2.9 million.

If we subtract his $11.8 million in known expenses, such as taxes, charitable deductions, and housing costs, from his $17.3 million in profits, the difference would be $5.5 million.

However, Biden's document shows cash and retirement accounts totaling $1.2 million to $2.9 million, which is far less than the $5.5 million amount, implying he spent at least $2.6 million elsewhere. Gifts to his family are one possibility.