Most Americans became familiar with Joe Biden as the vice president to Barack Obama, the nation’s 44th president. Now, he’s been elected the 46th president of the United States, formally taking office on Jan. 20, 2021. Here’s how he and his family have been making their money — in and out of politics.
Last updated: Feb. 17, 2021
The president has lived a life of riches to rags to riches again. Though wealthy in his childhood, some bad business dealings left the Biden family broke. Joe Biden still received a private school education — and all the networking benefits it affords — but had to work to cover tuition.
After graduating from college at the University of Delaware and earning a law degree from Syracuse, Biden went into a career of law and politics. That, you already know. What might surprise you, however, is that up until he left office, Biden’s main income outside his salary was from rental properties that he bought with his late wife, Neilia. More income was made from the then-vice presidential candidate’s 2008 book, “Promises to Keep.” It reportedly brought in an estimated $80,000.
Financially, things have looked up for Biden since he left his VP position. After 2016, he’s made millions from book tours and speaking events, and now has a presidential salary and pension to look forward to.
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Dr. Jill Biden
Dr. Jill Biden has been a major support to her husband throughout his political career, but the first lady has also always been independent when it comes to her career. In fact, 2020 is the first time that she’s taken a break as an English professor at Northern Virginia Community College since 1981.
A break, though, is exactly what it is. According to the college’s liberal arts dean, Dr. Biden has continued to attend trainings in preparation for her return. In spite of her husband’s election, she has stated that she plans to return to her position. This will make her the first first lady to keep working outside the White House.
An author, Dr. Biden has written three books. Two for children — one about Joe Biden’s early years and one about supporting those serving in the military — and a memoir for adults. And, like the Obamas, she’s also made money from various speaking engagements.
Robert Hunter Biden
The second Biden son (who goes by his middle name) is an attorney. He has worked with the venture capitalist group Eudora Global — he’s often noted as a co-founder.
Hunter Biden also has served on the board of Ukrainian energy company Burisma — a role that’s been heavily scrutinized in the race to the 2020 election — and held a position on the board of the World Food Program.
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Ashley Blazer Biden
The youngest Biden child is a social worker —she holds a master’s in the field — and has served as the executive director of the Delaware Center for Justice. She’s also the founder of Livelihood, a charity clothing company.
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This article originally appeared on GOBankingRates.com: All the Ways the Biden Family Has Made Money Over the Past 20 Years