Joe Biden is the Vice President of the United States of America under President Barack Obama, and he has an estimated net worth of approximately $500,000 as of last year. A democratic senator from Delaware, Biden represented the state from 1973 until he was elected the 47th Vice President of the country in 2009. He is the father of four and currently married to Jill Biden, his second wife. His first wife and his then 1-year-old daughter were killed in a car accident in Delaware while Christmas shopping. His two sons were in the car, too, but they survived with only minor injuries. This happened only a few weeks after Biden was elected into the United States Senate. His eldest son, Beau Biden, died in 2015 after a long battle with brain cancer.
Joe Biden spent many years working in politics, though he was a lawyer first. He opened his own firm in the seventies, but he was not thrilled with the direction in which his career was headed. Corporate law paid well but did not hold his attention or interest in any way, and criminal law paid nothing. His solution was to manage properties and earn more income that way. That’s when he decided he would take on a political career as a democrat in a widely republican area in Delaware, and he won. His career fast-tracked from there, and he was able to spend a great deal of his time working on his politics and caring for his two sons.
He met and married Jill Biden five years after losing his wife and daughter, and five years later in 1981 they welcomed their daughter, Ashley. His political career became more important to him as time went on, and he actually declared his candidacy to run for president in 1988. He was doing quite well at the time until a scandal involving plagiarism rocked his campaign and he withdrew his nomination and headed back to the senate.
As far as his net worth is considered, the most recent filings from 2014 state that he has a small net worth compared to other politicians. It’s not because his annual salary is not impressive, however. For 2014, the vice president and his wife show an adjusted gross income of more than $407,000, and more than half of that is his income as the vice president. The couple also has rental income to the tune of $2200 per month from a property that they own, and from the sales of Jill Biden’s book.
Their deficit comes because of their real estate investments. The couple has up to a million dollars in debt on two mortgages and they have a home equity line of credit up to a half million dollars. One thing is certain, however, and that is that the vice president does not have any savings accounts, nor does he have much in terms of his retirement. His wife has some stocks and bonds, some savings and some certificates of deposit, but it appears that Joe Biden has none of the above.