Yahoo Finance The Last Time Biden Left The White House, He Cashed In. Here's How 2025 Could Bring Another Boost For Him
Joe Biden made significant money after leaving the White House in 2017, thanks to book deals and speaking gigs. Now, people wonder if he might see another big financial boost in 2025 if he leaves office.
According to The Wall Street Journal, most of Biden’s wealth, estimated at around $10 million, is tied up in real estate.
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He has a long history of investing in real estate, starting with his first home in Newark, Delaware, in 1969. Over the years, he bought and sold multiple properties, often using them to secure loans. Notable properties include a Colonial home from 1723, a large mansion once owned by the DuPont family, and a summer house in Rehoboth Beach, which saw a big increase in value during the pandemic but has since leveled off.
As reported last week, he has refinanced his properties 35 times over the past few decades, borrowing $6 million. The Bidens’ current home, bought in 1996, still has a $541,000 mortgage. Before that, they had a home in Wilmington, which they bought for $185,000 in 1975 and sold for $1.2 million in 1996. Over the years, they took out 15 different mortgages and lines of credit on that house before selling it.
Biden also earns $400,000 yearly as president, the same salary as past presidents for the last two decades. To manage his finances, he took out a $250,000 line of credit in 2022, using more than $100,000 by the end of 2023.
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For 2023, the presidential couple filed their taxes together, showing a total income of $619,976. They paid $146,629 in federal income tax, an increase of about 7% compared to the previous year.
After his term as Vice President, Biden earned $11.1 million in 2017 through books and speeches. He invested part of this money in a $2.7 million summer home in Rehoboth Beach and has borrowed against it. Besides real estate, Biden’s financial assets include a $1 million pension, a $250,000 pension for his wife Jill, an annuity, and some cash.
Former presidents usually find plenty of ways to make money once they leave office. They often write books, give speeches, and take on different roles in the private sector, all of which can be very lucrative. For instance, Barack Obama signed a $65 million book deal and earned large sums for speaking engagements.
If Biden leaves the White House in 2025, he could make money in ways similar to other former presidents. He could write more books about his experiences and get paid well to speak at events worldwide. He could also take on advisory roles or join the boards of major companies, which often come with big paychecks.
Former presidents often have opportunities to earn significant income through book deals, speaking engagements, and advisory roles. He could use his name and reputation to secure financial opportunities that he couldn’t while in office. So, even if he doesn’t stay in the White House past 2025, he could still find plenty of ways to boost his income.
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This article The Last Time Biden Left The White House, He Cashed In. Here's How 2025 Could Bring Another Boost For Him originally appeared on Benzinga.com
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