How much money does Joe Biden have? Know how much property the US President has

Joe Biden Net Worth 2024: US President Joe Biden is once again in the presidential election race. He is going to face former President Donald Trump. Donald Trump is an American businessman who has immense wealth. In such a situation, let us know how rich Joe Biden is.

Washington: The President of the United States is considered the most powerful person in the world. In such a situation, it is natural to be interested in knowing about his wealth. President Biden’s wealth is estimated at $10 million. However, his wealth was $8 million at the time he became president. The increase in his wealth in four years has nothing to do with his family business based abroad. Instead, he is getting rich by doing what most Americans are doing: investing in real estate. Biden owns two houses in Delaware, which are worth $7 million, which is $1.8 million more than when he took office.

Biden owns multiple homes

His most valuable asset is a 4,800-square-foot summer home in Rehoboth Beach, which is worth an estimated $4.5 million, Forbes reports. Biden bought it in 2017, the year he left the vice presidency and earned $11.1 million from speeches and books. He had a pool built in November of that year, which can cost up to $75,000. It all seemed like a waste at the time, but it turned out to be a savvy investment.

Biden’s property boomed during the pandemic

During the pandemic, homebuyers gravitated toward larger properties with outdoor amenities like Biden’s, which is seven minutes from the ocean and next to a state park filled with biking trails. The home is now worth an estimated $4.5 million, up $1.7 million from its original price. The president also owns an even larger, though less valuable, home in Greenville, Wilmington. It started with a piece of land that Biden bought in 1996 for $350,000. He built a 6,850-square-foot Colonial-style home two years later and then a 1,900-square-foot cottage in 2005.

Biden’s most valuable real estate investment

For many years it was Biden’s most valuable property and he renovated it repeatedly until he received his windfall in 2017. Today, the property is worth an estimated $2.5 million, up $700,000 from just two years ago. Combined, Biden’s two homes make up nearly two-thirds of his personal wealth.

Joe Biden has long had an appreciation for some of the finer things in life. His father, Joe Sr., owned several fledgling businesses before making his mark as a car dealer. When Joe Jr. married his first wife in 1967, his father gave him a 1967 Corvette Stingray, which cost $5,600 at the time ($51,000 in today’s dollars). It was a good investment. This car is in the president’s garage and is worth about $100,000 today.

Biden loved good real estate. When he was in his mid-20s, Biden bought three houses and 85 acres of land in Maryland, hoping that one day he would turn it into a compound for his family. In the short term, he tried to make money from it by renting out the houses. Meanwhile, he and his family were living in a cottage he rented in exchange for managing the local pool.