As the head of state, President Joe Biden acts as the highest living symbol of the United States. Biden is currently facing various issues such as mass migration, inflation, and the COVID-19 pandemic, among others, as the 46th president of the U.S.

Biden is not new to politics. Before he became president, he served in the Senate for 36 years, from 1973 to 2009.

As a Senator from Delaware for 36 years, Biden has already faced some of the country's most important domestic and international challenges. He became a chairman or ranking member of the Senate Judiciary Committee for 16 years.

From 2009 to 2017, Biden served as the 47th vice president under the Barack Obama administration. Biden already had a 44-year career in the federal government before moving into the White House in January 2021.

Biden has already hit his first anniversary in office. Let's take a closer look at how he got rich in a span of one year.

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Joe Biden Net Worth 2022: The President's Earnings

According to Celebrity Net Worth, Joe Biden's current net worth is estimated at $9 million, which includes the money he made as a senator, vice president, and now president. It also included the six-figure book deals he was paid in the past.

GOBankingRates reported that this amount is $1 million higher than his 2021 net worth. In June 2021, Forbes estimated Biden's net worth at $8 million based on his financial disclosure report. Biden's long existence in politics and other sources of income are the main components of the president's wealth. 

Labeled as "Middle-Class Joe," Biden's salary in the Senate in 1972 might have made him one of the poorest members of Congress. During that time, Biden was reportedly getting $42,500 per annum.

In 2008, Biden's salary climbed to $169,300. When he became the vice president, his salary reportedly jumped to $230,700.

As president, Stylecaster reported that Joe Biden's annual salary is $400,000. He also receives a $50,000 expense allowance, $19,000 for entertainment, and a $100,000 non-taxable travel account each year, totaling $569,000 for all of his expenses every year.

Politics was not the only source of income for Biden. After leaving the Obama administration in 2017, GOBankingRates reported that Biden and his wife, Jill Biden, earned $17.3 million from a book deal and high-paying speaking engagements.

The Bidens signed a multi-book deal with Flatiron Books: two books by Biden and one by Jill. However, his current net worth is what was left after Joe Biden paid $7 million in taxes, $80,000 in mortgage interest, and $170,000 for their staffing fees. The president also reportedly donated $1.3 million to charity.

Joe Biden's Debt

Joe Biden has reportedly experienced being short on money in 2014. According to OpenSecrets, Biden has a debt, valuing around $1 million at the time, when he was struggling with the cancer diagnosis of his son, Beau. 

He was even considering selling the family home to make ends meet. Joe Biden reportedly avoided such fate after former President Barack Obama offered him a personal loan.

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This article is owned by Latin Post.

Written by: Joshua Summers

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