April 19, 2022
President Joe Biden, also known as “the Big Guy” to his scandal-plagued son Hunter, stumbled his way through a Tuesday afternoon address to make the incredible claim he doesn’t believe politicians should get rich in office. Watch:
The War in Ukraine is going to continue to take it toll on the world economy,” Biden said. “It’s going to take it his toll on energy, and it’s going to take its toll relative to food.”
“When I was running for office, you heard it a thousand times from me, that we’re going build an economy me around you,” he continued. “I’m so tired of trickle down economics. And I never found that that trickled down on top of my head very much.”
“I was listed… I had the great pleasure of being listed as the poorest man in Congress for 36 years,” he went on. “I still was making a hell a lot more money than anybody else because I was getting a senator’s salary, no kidding.”
“I didn’t think you should make money while you’re in office,” he claimed.
“But anyway, the point of it is this,” he added. “An awful lot of people are hurting. It makes a big difference. Makes a big difference. The cost of a dozen eggs cost of a gallon of gasoline. It matters. It matters.”
“So I concluded when I ran this last time that we’re going to build this economy from the bottom up in the middle out, because when that happens, everybody does well,” he went on. “The wealthy do very well and the poor have a ladder up and the middle class has a little bit of breathing room.”
Then Biden told one of those hard-to-believe anecdotes that he is so fond of telling when he rambles off-script.
“I grew up in a household where we lived in a split level, home, three bedrooms, four kids, mom, and dad, and grandpa would live with us,” he said. “And I remember one night you could, you know, the walls were kind of thin here. My dad was restless next morning. When he went to work, I asked mom, what was the problem? She said, he just noticed his company just said, no more, not going to, not going to cover health insurance anymore. It matters. These things matter to people. They matter to ordinary people.”
Beyond the Biden folktales, he is has gotten incredibly rich during his nearly 50 years on the public till. Forbes notes that “Joe Biden earned $17.3 million over the four years he was out of office, but his net worth is only an estimated $8 million.”
“On the day America’s first billionaire president took office, ‘middle class’ Joe Biden boarded the Amtrak out of Washington D.C.’s Union Station, bound for Delaware with the kind of modest fortune you might expect from someone who had spent his adult life as an elected official: $2.5 million, mostly composed of pensions and real estate,” Forbes said. “But Biden was about to cash in. By the end of 2017, he and his wife Jill had earned $11.1 million. They raked in $4.6 million the next year, followed by $1 million in 2019 and $630,000 in 2020.”
“The story of how Biden became a wealthy man in the wake of his vice presidency, leveraging his fame to sell books and deliver speeches, has been told many times,” Forbes went on. “But a closer look at the math prompts a question that hasn’t been asked: Why isn’t Biden even richer? If someone starts with a $2.5 million net worth and earns $17.3 million while the markets are raging, you’d expect him to be worth more than $8 million. So what happened to Biden’s money? Well, $7 million of it covered taxes, another $1.3 million went to charity, $180,000 paid for household staff and an estimated $80,000 went toward interest on mortgages. Take those items out, though, and you’re still a few million above Biden’s estimated net worth.”
“There’s a chance that Biden, who shares his fortune with his wife Jill, gave some to other family members,” the report added. “Or perhaps he just spent it all. In order to be worth $8 million—as an analysis of Biden’s financial disclosure reports, property records and career earnings suggest he is—the president would have had to blow an average of roughly some $2,000 per day over the four years he was out of office.”
The White House did not respond to Forbes’ multiple requests for comment about Joe Biden’s money.
Town & Country has also reported on the real estate holdings of Joe Biden.
“Biden began buying homes—especially those that were outside his budget—in his twenties, taking out multiple mortgages and receiving loans against life insurance policies,” Town & Country reported. “His net worth was often in the negatives—in 2007, he was ranked the least wealthy senator.”
“Today, the 78-year-old president-elect is hardly middle class anymore,” the report added. “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. About $4 million of that worth is in his real estate. 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.”
Town & Country then listed impressive estates in Greenville, Delaware; Rehoboth Beach, Delaware; and McLean, Virginia.
The Daily Mail, one of the major publications that has analyzed Hunter Biden’s laptop firsthand, has detailed how the former senator’s and vice president’s connections was leveraged to make his family a large fortune.
“Multiple associates of Joe Biden called him the ‘big guy’ in emails – the latest in a mountain of evidence that the president was involved in his son’s business dealings,” the Daily Mail noted.
But emails and documents on Hunter’s laptop show Joe Biden:
- Was referenced under the nickname ‘big guy’ as a potential 10% owner in Hunter’s joint venture with Chinese oil giant CEFC, in an email by Hunter’s partner in the deal
- Met with Hunter’s foreign business associates at a DC restaurant, despite initial White House denials
- At his son’s behest, met with an executive from the allegedly corrupt Ukrainian gas firm Burisma, where Hunter had a $1 million-per-year board seat
- Met with Hunter and his Mexican billionaire business partners in the Vice President’s official residence
- Flew Hunter and his business partner – a top political donor – on Air Force 2 to Mexico for a business meeting with those same Mexican billionaires
- Was issued keys for Hunter’s proposed office to be shared with his Chinese business partners – though Hunter never picked the keys up according to the office manager
- Met with Hunter’s now-jailed business partner Devon Archer, who was then appointed a Burisma board member alongside Hunter the same month Joe visited Ukraine as VP, according to White House visitor logs
- Shared a bank account with Hunter and paid each other’s bills
- Spoke with former FBI director Louis Freeh who at the time was plotting establishing a DC consultancy with Hunter and Joe catering to foreign criminals
- Had Hunter’s business partner file his taxes
- Wrote a college recommendation letter for the son of Hunter’s Chinese business partner, Jonathan Li
Joe Biden might claim that he doesn’t believe that public officials should get rich “while in office,” but the track record of “middle class Joe” shows that he has not only made millions in his five decades in office, but he has made an even bigger fortune for his family through institutionalized corruption.
OPINION: This article contains commentary which reflects the author’s opinion.