‘Middle Class’ Joe Biden Raking in Millions Ahead of Campaign Launch

WASHINGTON, DC - JANUARY 21: Former Vice President Joe Biden speaks during the National Action Network Breakfast on January 21, 2019 in Washington, DC. Martin Luther King III was among the attendees. (Photo by Al Drago/Getty Images)
Al Drago/Getty

Vice President Joe Biden self-identifies as a middle class citizen but he has cashed in on several financial opportunities since leaving office.

A new Politico story details some of Biden’s existing and new-found riches, including:

  • A home in Delaware is worth $1.9 million
  • A newly purchased Rehoboth beach vacation home is worth $2.9 million
  • Over $100,000 per post-administration speaking gig
  • A seven-figure book deal with his wife Jill Biden – estimated at up to $8 million
  • Multiple vacations in St. Croix in the Virgin Islands

A Biden speaking contract obtained by MapLight detailed a $150,000 dollar speaking fee as well as a meal of angel hair pomodoro, Caprese salad and raspberry sorbet with biscotti.

In September 2018, Biden complained in a speech that he only made $110,000 a year as a senator in Washington, DC.

“I had no disposable income,” Biden said. “Not a joke.”

As vice president, Biden received an annual salary of $230,700 and now enjoys a government pension.

The New York Times also detailed in January how Biden has created a structure to pay many of his possible future campaign aides through a series of connected non-profit and politically themed foundations on top of his book earnings and speaking fees.

A spokesman for Biden defended the former Vice President’s post-administration cash grab, noting that most of it was for paying off “debt accumulated during his time in public life” and providing for his grandchildren.

In 2016, Biden admitted that he had never held a private sector job.

“I’ve never been gainfully employed in my life,” he said in a speech to the National Urban League’s Legislative Policy Conference.

“I’ve never cashed a paycheck in my entire life, you think I’m joking, I’m not,” he added.

He also joked in 2016 that “socialist” Bernie Sanders was wealthier than he was.

“As I pointed out, it was embarrassing. Bernie Sanders’ net worth is more than mine,” he said, putting his head in his hands as he feigned embarrassment. “I have less money than a socialist. I don’t know what the hell happened to me.”

 

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