What is Joe Biden’s net worth?

Former President Joe Biden’s net worth is one of the most contentious debates because there is a lot of misinformation surrounding it. He is not as rich as most think, but his wealth gives him more than enough to live well.

A large part of Biden’s wealth, around two-thirds, is invested in real estate. Biden owns two homes in Delaware: a mansion in Wilmington and a 4,800-square-foot summer house in Rehoboth Beach. The Rehoboth Beach property, bought in 2017 for $2.7 million, has risen in value to $4.5 million due to high housing demand during the pandemic. However, increasing interest rates have since stabilized its value. His home in Wilmington is valued at about $2.5 million.

In addition to real estate, Biden has other assets, including a $1 million pension, a $250,000 pension from his wife Jill Biden, and also has a 1967 Corvette Stingray worth around $100,000, a wedding gift from his father.

His total worth?

Forbes reports that his current net worth is around $10 million, which is an increase from about $8 million when he became president in 2021. This growth primarily comes from the rising value of his real estate and the stock market’s performance, not from any alleged family business dealings overseas.

Biden earned $400,000 annually as president, a salary that’s been the same since George W. Bush. However, when adjusted for inflation, the buying power of that salary is much lower. Jill Biden also adds to their income with her full-time teaching job at Northern Virginia Community College, earning about $86,000 a year.

AOL reported that the Bidens’ 2023 tax return, released in April 2024, indicated a combined pre-tax income of roughly $620,000, which includes Social Security benefits, pensions, annuities, interest, and book royalties. They reported paying around $147,000 in federal income taxes, which resulted in an effective tax rate of 24%.

Biden started investing in real estate early on, frequently buying and selling properties, often using them for loans. In his younger years, he worked as a lifeguard and managed a country club pool. He also made money as a public defender and a civil litigation defense attorney. After his vice presidency, he earned a lot from book deals and speaking engagements, making over $11.1 million in 2017 alone, with some of that money reinvested into real estate.

In Dec. 2023, actor James Woods falsely claimed on X (formerly Twitter) that Biden’s net worth jumped from $9 million in 2019 to $41 million in 2022. PolitiFact rated this claim as “false” and pointed out a mistake of about $30 million. This highlights why it’s important to trust accurate information from reliable sources when looking into the finances of public figures.

Financial disclosures filled out by Biden indicate that his assets were mostly stable between 2021 and 2022, ranging between $1 million and $2.65 million, not counting his major real estate holdings. The former president is rich but not as rich as many would have thought. Still, because his wealth is tied to real estate and stocks, he won’t lose it soon.