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Joe Biden used to joke about being the poorest member of Congress.
Now, he and his wife Jill Biden are millionaires. The 2020 presidential candidate, who has touted himself as a champion of the middle class, released his tax returns. The documents show the Bidens made more than $15 million in the two years after they left the White House.
What is Joe Biden’s estimated annual pension from the federal government?
Joe Biden is the 46th President of the United States, and he is renowned for his political career that spans over several decades. He began his career as a Senator in 1973, representing Delaware, and served in the position for thirty-six years. During his long tenure, Biden made a significant fortune, but unlike many other politicians, he has never been accused of any financial scandals or improprieties. In this article, we take a closer look at how Joe Biden made his millions.
Real Estate Investments
One of Joe Biden’s main sources of income is his real estate investments. In the early 1970s, he started investing in properties, and he now owns several properties in Delaware, Pennsylvania, and Washington D.C. Among his most notable real estate investments is a 10,000 square foot Georgian-style mansion in Wilmington, Delaware, which he bought for $185,000 in 1974. The house has since been valued at over $2 million. Biden has also sold several properties over the years, including a Wilmington home that he bought for $185,000 in 1996 and sold eight years later for $1.2 million.
Book Deals
In addition to his real estate investments, Biden has also made millions from book deals. He has published several books throughout his career, including “Promises to Keep: On Life and Politics,” “The Truths We Hold: An American Journey,” and “Promise Me, Dad: A Year of Hope, Hardship, and Purpose.” He reportedly received an advance of $8 million from Flatiron Books, a division of Macmillan Publishers, for his memoir “Promise Me, Dad,” which was published in 2017.
Speaking Engagements
Joe Biden is also well-known for his speaking engagements. After leaving office in 2017, he signed with the Harry Walker Agency, which represents high-profile speakers, and reportedly earned $200,000 per speech. He has spoken at several events, including the 2018 Concordia Summit, a global affairs conference in New York City, and the 2019 Milken Institute Global Conference, an annual gathering of business leaders and policymakers.
Pension and Social Security
Another source of Joe Biden’s wealth is his pension and Social Security. After serving as a Senator for 36 years, Biden is entitled to a pension from the federal government, which is estimated to be around $200,000 per year. He is also eligible for Social Security benefits, like any other American citizen who has worked and paid into the system for a certain amount of time.
In conclusion, Joe Biden made his millions through astute real estate investments, lucrative book deals, high-paying speaking engagements, and retirement benefits. He has never been embroiled in any financial controversies, which is a testament to his reputation as an ethical politician. His wealth has enabled him to live a comfortable life with his family, but he has also been a compassionate servant and public figure that has always put the interests of his constituents first.
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