Joe Biden, the 46th President of the USA, has been in the public eye for decades. Over the years, he has amassed a significant net worth, which has been the subject of much discussion. In this article, we will explore Joe Biden net worth 2020.
Biden Net Worth 2020 Before Leaving Office
Before leaving office as Vice President, Joe Biden's net worth was estimated to be around $2.5 million. This amount primarily comprised his government salary and income from his memoirs and speaking engagements. Biden's net worth was relatively modest compared to other politicians in Washington, D.C.
Before Leaving Office: Income Sources
Joe Biden's income derives from various sources. These include speaking fees, book contracts, and payments from the University of Pennsylvania. His income saw a significant increase after leaving office, with his earnings from 2017 to 2020 totaling over $17 million.
Biden's speaking engagements have been a notable source of income. He earned more than $4 million in late 2017 and 2018 from giving speeches at various events, including the World Economic Forum in Davos, Switzerland, and Harvard University. His prominence and experience have made him a sought-after speaker at prestigious gatherings.
In addition to speaking engagements, Biden has earned from book advances and royalties. His first book, "Promises to Keep: On Life and Politics," published in 2007, garnered him a significant advance. Furthermore, he and his wife, Jill, established S-corporations to manage income from their memoirs and speaking engagements.
Joe Biden's income also includes payments from the University of Pennsylvania, where he served as a professor of practice from 2017 to 2019. During this time, he earned $775,000 for his work at the university.
Real Estate
Joe Biden's real estate holdings are a substantial component of his net worth. He owns a mansion in Wilmington, Delaware, and a summer home in Rehoboth Beach, Delaware. The combined value of these properties is estimated to be around $7 million, representing a considerable increase from their initial value.
Biden's Wilmington mansion is a 6,850-square-foot property that he purchased in 1996 for $350,000. The property is now worth an estimated $4 million. His Rehoboth Beach home is a 4,800-square-foot property that he purchased in 2017 for $2.7 million. The property is now worth an estimated $3 million.
Forbes reports that Biden is making money by sitting on real estate like his Rehoboth Beach summer home, which is now more than $1.7 million more than its original cost. Biden's real estate investments have been a significant contributor to his net worth.
Early Life and Career
Joe Biden was born in Scranton, Pennsylvania, in 1942. After law school, he worked as an attorney before being elected to the Senate in 1972. He served in the Senate for 36 years before being elected Vice President in 2008.
Conclusion
In conclusion, Joe Biden's net worth has experienced significant growth, particularly after leaving office as Vice President. Biden Net Worth 2020 is 10 million. His income sources are diverse, including speaking engagements, book deals, and real estate investments. This increase in wealth is notable, given his relatively modest net worth before assuming the presidency.
