James Woods
Statement: Joe Biden’s net worth was $41 million in 2022.
Before being vice president or president, Joe Biden was one of the members of Congress. the least rich members. Now, one critic claims that Biden’s net worth has more than quadrupled since he came to the White House.
Actor James Woods shared an image on social media showing that Biden’s net worth increased from $9 million in 2019 to $41 million in 2022. Net worth is the value of people’s income and assets minus the debt and other debts they owe.
“I’m shocked,” Woods, a staunch supporter of former President Donald Trump, said. wrote December 10 on X, formerly Twitter. The image Woods shared also called into question Vice President Kamala Harris’ assets, but we focused on Biden’s claim.
Financial disclosures, tax returns and news reports show Biden’s net worth has increased slightly since entering the White House, but nothing on the scale Woods suggests.
Forbes in August wrote that Biden’s net worth was $10 million, compared to about 8 million dollars when he entered the White House in 2020.
“This increase has nothing to do with family business dealings in distant lands,” Forbes wrote. “Instead, he is getting rich by doing what many 80-year-old Americans do: sitting on real estate. The president owns two homes in Delaware that together are worth about $7 million, or 1 .8 million dollars more than before he took office.”
Much of the Bidens’ current net worth comes from the combined value of their two Delaware homes, which include a six-bedroom mansion in Rehoboth Beach that they purchased in 2017, Forbes reported.
After leaving the vice presidency in 2017, Biden’s income increased significantly. In 2017 alone, according to Forbes, Joe and Jill Biden brought in $11.1 million, nearly double their total earnings from 1998 to 2016. In 2018, they brought in an additional $4.6 million.
Speaking engagements and book deals are behind much of this new wealth before 2020.
As president, Biden earns $400,000 a year. Its 2022 financial disclosures, published by the White House in May, show that he has assets between $1 million and $2.65 million. But those numbers are little changed from 2021, his first full year as president.
We rate the claim that Biden’s net worth was $41 million in 2022 to be false.
