that counts a who's who of senators, Supreme Court justices, and diplomats among its residents. Upon moving out of the vice presidential residence at the Naval Observatory at the end of his term in 2017, the Bidens began renting a house in McLean, Virginia, the upscale suburb outside D.C. The Bidens rented this sprawling home in McLean, Viriginia, the tony neighborhood near Washington D.C. And while they are officially moving into America's grandest house today, the White House joins an already impressive group of stately digs owned by the President and First Lady. About $4 million of that worth is in his real estate. According to a 2019 Forbes estimate, Biden and his wife Jill are worth $9 million, much of that accrued from speaking fees and book deals that came pouring in after his vice presidency. Today, the 78-year-old president-elect is hardly middle class anymore. His net worth was often in the negatives-in 2007, he was ranked the least wealthy senator. "Even as a kid in high school I'd been seduced by real estate," he wrote in his 2007 autobiography, Promises to Keep.īiden began buying homes-especially those that were outside his budget-in his twenties, taking out multiple mortgages and receiving loans against life insurance policies. But according to the Wall Street Journal, the reason why Biden was often at the bottom of the wealth ladder among his colleagues in the Senate had a lot to do with his life-long obsession with real estate. He also often called himself "one of the poorest members of Congress." His scrappy roots-born in Scranton, Pennsylvania, to a father who suffered a number of financial setbacks-were a big part of his 2020 presidential campaign's plan to appeal to American voters. For most of his 44-year-long career in public office, President-elect Joe Biden had a nickname: Middle Class Joe.
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