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What is Joe Biden’s net worth?

The vast majority, about two-thirds, of President Joe Biden’s net worth is tied up in real estate after decades of buying and selling homes in Delaware and the surrounding areas.

Biden is worth about $10 million, according to Forbes with the president owning two homes in Delaware – a mansion in Wilmington, and a summer house in Rehoboth Beach.

The pandemic pushed up the value of Biden’s beach house to $4.5 million – after he paid about $2.7 million for it in 2017 – with those living in the cities looking for more space. But high interest rates have now stopped the increase in the value of Biden’s homes.

As president, Biden makes $400,000, which has been the presidential salary since George W Bush. But compared to Bush, Biden is not getting the same bang for his buck. Adjusted for inflation, Bush was getting $717,000 in today’s dollars.

Biden opened up a $250,000 line of credit in 2022, taking out more than $100,000 by the end of last year, according to Forbes. It has a variable interest rate of 1.99 percent – meaning that Biden’s cost of borrowing is affected by interest rates.

Biden has long spoken about his humble beginnings.

During a campaign event in Detroit on May 19, Biden said: “I got out of law school — I’m the first in my family ever to go to college. I got out of law school and had a job with a fancy law firm, and I quit and became a public defender. And one thing led to another, here I am.”

He added: “Like an awful lot of folks growing up in a situation where — basically, middle-class family; three-bedroom, split-level home with four kids and a grandpop living with us. You know, we were okay. I mean, we didn’t have any money, but we were okay.”

Biden’s father became a car salesman, and the future president

Read more on independent.co.uk