What is Jill Biden Net Worth and Salary

Jill Biden, an esteemed American educator and the First Lady of the United States, has built a notable net worth of $9 million over her career. Born on June 3, 1951, in Hammonton, New Jersey, Jill has had a prolific career that spans teaching at various educational institutions, authoring books, and participating in speaking engagements. This article delves into the various facets of her financial journey, including her salary, investments, and philanthropic efforts.

Key Takeaways

• Jill Biden’s net worth is estimated to be $9 million as of April 17, 2024.
• Her income sources include teaching, book deals, speaking engagements, and investments.
• Jill Biden earns an average salary of $100,000 from her role as a professor at Northern Virginia Community College.
• The combined net worth of Jill and Joe Biden includes two homes in Delaware, cash, investments, and a federal pension.
• The Bidens have made significant charitable contributions, including donations to the Beau Biden Foundation.

How Jill Biden Built Her Wealth

Jill Biden has built her wealth through a combination of her teaching career, book deals, speaking engagements, and smart investments in real estate. Her diverse income sources have contributed significantly to her net worth, making her financial journey quite impressive.

Jill Biden’s Salary Breakdown

Let’s break down Jill Biden’s salary and see how it contributes to the overall Jill Biden Net Worth.

Teaching Salary

Jill Biden has been a dedicated educator for many years. She currently teaches English at Northern Virginia Community College, where she earns around $86,000 annually. Before this, she worked as an English professor at Delaware Technical Community College, earning about $60,000 a year. Her teaching career has been a significant part of the Biden family’s income.

Income as First Lady

While the role of First Lady does not come with a salary, Jill Biden’s position allows her to engage in various activities that can indirectly contribute to the family’s wealth. For instance, her visibility and influence can lead to book deals and speaking engagements, which are lucrative opportunities.

Additional Earnings

In addition to Joe Biden $400,000 paycheck for being president, the Bidens also receive $55,000 in Social Security benefits and $35,000 from pensions and annuities. Jill Biden’s contributions, including her teaching salary and other engagements, play a crucial role in their financial stability.

The Biden’s Combined Net Worth

When it comes to the combined net worth of Joe and Jill Biden, Forbes estimates their fortune stands at $10 million. This includes two homes in Delaware, cash and investments, and a federal pension. Despite his relatively modest upbringing, Biden’s financial situation has changed dramatically over the years.

Joe Biden’s Earnings

After leaving the Obama administration, Joe Biden and his wife Jill made more money in 2017 than in the previous 19 years combined. His earnings have been bolstered by his presidential salary, rising real estate values, and the surging stock market pushing up the value of his mutual fund investments.

Joint Investments

The Bidens have a variety of investments that contribute to their net worth. These include mutual funds and other financial assets that have appreciated over time. Their financial disclosures reveal a diversified portfolio aimed at long-term growth.

Real Estate Holdings

The Bidens own two homes in Delaware, which are significant contributors to their net worth. The rising real estate values have positively impacted their overall financial standing. Additionally, their federal pension adds another layer of financial security.

Jill Biden’s Teaching Career

Early Teaching Jobs

Jill Biden began her teaching career in the 1970s, working in various educational settings including high schools and psychiatric hospitals. Her early experiences laid the foundation for her long-term commitment to education.

Northern Virginia Community College

Jill Biden is a professor at Northern Virginia Community College (NOVA), where she has taught English since 2009. Jill Biden continued to teach full-time at NOVA even after her husband left office, with a salary of close to $100,000. She resumed teaching at NOVA, albeit at first on a remote basis over Zoom due to the pandemic. This has made her the first wife of a sitting U.S. president to hold a paying job outside the White House.

Impact on Net Worth

Jill Biden’s teaching salary has been a consistent source of income for her. While her role as First Lady is unpaid, her teaching job at NOVA provides her with a steady income. This, combined with other earnings, contributes to her overall net worth.

Book Deals and Speaking Engagements

Notable Book Deals

After leaving the White House in 2016, Joe and Jill Biden signed a $10 million joint book deal covering three books. Jill’s memoir, Where the Light Enters, charts her journey from a rebellious teen to young divorcee to the second lady of the United States. Publishers Weekly reported in 2017 that the couple’s book deal with Flatiron Books was valued at $8 million.

Speaking Fees

Jill Biden has also earned a significant amount from speaking engagements. These events often bring in substantial fees, adding to her overall wealth. For instance, Joe Biden was named the Benjamin Franklin Presidential Practice Professor at the University of Pennsylvania, a post that earned him a $372,000 salary in 2017.

Financial Impact

The combined earnings from book deals and speaking engagements have had a considerable impact on Jill Biden’s net worth. These ventures not only provide immediate income but also enhance her public profile, leading to more opportunities. Book signings and public appearances further contribute to her financial success.

Real Estate Investments

Homes in Delaware

Joe and Jill Biden invested some of their post-White House earnings into real estate. In 2017, they bought a $2.7 million vacation home in Rehoboth Beach, Delaware. This six-bedroom vacation home is by the water and serves as a perfect getaway spot for the couple.

Rental Income

Between 2018 and 2019, the couple rented a $4 million mansion in McLean, Virginia, paying $20,000 per month. This rental period highlights their preference for luxurious living spaces even when not in their primary residence.

Other Properties

Most of the Bidens’ wealth, an estimated $7 million of the couple’s $10 million fortune, is tied up in their two Delaware homes. Their most valuable property is a 4,800-square-foot summer pad in Rehoboth Beach. This strategic investment in real estate has significantly contributed to their overall net worth.

Philanthropy and Donations

Jill Biden has always been passionate about giving back to the community. Heavily involved in philanthropic endeavors, she and her husband established the Biden Foundation in 2017, which focuses on preventing violence against women. Jill also became the board chair of the charity Save the Children that same year.

Charitable Contributions

The Bidens reported contributions of $20,180 to 20 charities in 2022, offering their largest donation of $5,000 to the Beau Biden Foundation. The couple also contributed to St. Joseph on the Brandywine, their home parish in Delaware, the Tragedy Assistance Program for Survivors, and the National Fraternal Order of Police Foundation, among others.

Beau Biden Foundation

Among her other philanthropic activities, Jill Biden is president of the Biden Breast Health Initiative, a nonprofit that offers free educational breast health awareness programs to groups throughout Delaware. She also co-founded Book Buddies, which gives books to children in need.

Other Causes Supported

In addition to the above, the Bidens have supported organizations such as the Catholic Diocese of Wilmington and the United Jewish Federation of Chicago. In 2018, they gave another $275,800, and in 2019, they doled out $14,700, according to their tax filings.

Financial Disclosures and Tax Returns

When it comes to financial transparency, the Bidens have set a high bar. The White House proudly announced that this year’s returns marked Biden’s publicly sharing a total of 25 years of tax returns, releasing the “most tax returns of any president while in office.” This level of openness is quite rare, especially when compared to previous administrations.

Federal Income Tax

According to their joint tax returns, the Bidens earned the following amounts in recent years:

• 2016: $400,000
• 2017: $11 million
• 2018: $4.6 million
• 2019: $944,737
• 2020: $607,336
• 2021: $610,702
• 2022: $579,514
• 2023: $619,976

These figures include payments from pensions and Social Security, which contributed to their overall earnings.

State Taxes

The Bidens are not just paying federal taxes; they also contribute to state taxes. For instance, they paid $17,612 in California income tax, and Emhoff paid $9,697 in Washington, D.C., income tax. This shows their commitment to fulfilling their tax obligations at multiple levels.

Transparency and Public Records

Every president since Richard Nixon has released his tax returns except Donald Trump, who fought for years to conceal his taxes from public view. In contrast, the Bidens have been very open, making their financial disclosures and tax returns easily accessible to the public. This transparency helps build trust and sets a positive example for future administrations.

Life After the Vice Presidency

After Joe Biden’s term as Vice President ended, the couple’s financial situation saw a significant change. The couple’s haul skyrocketed due to various new opportunities and roles they took on.

Post-VP Earnings

In the two years after leaving the White House, the Bidens earned more than $15 million. This was largely due to a multi-book deal with Flatiron publishers. Additionally, during his time as Vice President, Biden and his wife brought in around $3.1 million, per a Forbes analysis of the couple’s tax returns.

University of Pennsylvania Role

Joe Biden took on a role at the University of Pennsylvania, which added to their income. This position allowed him to stay engaged in public service and policy discussions while also contributing to their financial stability.

Continued Teaching

Jill Biden did not cut back on her teaching schedule even during the 2012 presidential campaign, reflecting her dedication to education. She continued to teach at Northern Virginia Community College, which not only provided a steady income but also kept her connected to her passion for teaching.

Social Security and Pensions

Social Security Benefits

As Jill Biden approaches retirement age, she is eligible for Social Security benefits. These benefits are a crucial part of the retirement income for many Americans, including the Bidens. However, it’s important to note that Social Security’s problems aren’t going away, which could impact future benefits.

Pension Income

In addition to Social Security, Jill Biden is also entitled to pension income from her long career in education. This pension provides a steady stream of income, supplementing her Social Security benefits and other earnings.

Long-term Financial Planning

The Bidens have likely engaged in long-term financial planning to ensure a comfortable retirement. This includes considering factors like Social Security benefits, pension income, and other investments. Proper planning is essential to navigate the complexities of retirement income and ensure financial stability in the later years.

Conclusion

So, there you have it! Jill Biden, with her impressive career in education and her role as the First Lady, has amassed a net worth of $9 million. From teaching at community colleges to supporting her husband, President Joe Biden, Jill has shown that dedication and hard work pay off. Whether it’s through her salary as a professor or the combined earnings with Joe, the Bidens have built a solid financial foundation. It’s clear that Jill Biden’s contributions, both in her professional life and her philanthropic efforts, have played a significant role in their financial success. And let’s not forget, she’s still making waves with her ongoing work and commitment to education. Cheers to Jill for all her accomplishments!