REVEALED: President Joe Biden's Personal Debt Up to $850k, Zero Royalties From Failed Memoirs
President Joe Biden's American Rescue Plan provision promising Black farmers debt relief was struck down by a court as unconstitutional.
May 16 2024, Published 5:30 p.m. ET
Financial records revealed President Joe Biden and First Lady Jill are carrying a personal debt of up to $815k, RadarOnline.com has learned.
Records additionally showed the president saw no royalties from his two books — Promises to Keep and Promise Me, Dad — this year.
The bulk of the Biden's personal debt stemmed from their Delaware home's mortgage.
The Bidens' financial records were disclosed on Wednesday, May 15, under the Ethics in Government Act, which requires yearly records to be made public to prevent conflicts of interest while in office. Vice President Kamala Harris and her husband Doug Emhoff's records were also disclosed.
Records revealed the bulk of Joe and Jill's debt stems from the mortgage on their Delaware home, which carried a balance between $250k and $500k, as well as a 2022 home equity loan against the property. The Bidens additionally have a $15k term loan and a $50k loan against a mutual fund.
Biden recorded no royalties this year from his two memoirs, 'Promises to Keep' and 'Promise Me, Dad.'
On an Office of Government Ethics form, the Bidens reported assets between one and $2.6 million, with liabilities ranging between $350k to $850k, according to the Daily Mail.
Details on the exact figures are unclear as the form lists range rather than precise numbers.
The Bidens listed assets between one and $2.6 million.
An interesting detail on their forms was that neither recorded royalties for their books. The 81-year-old commander-in-chief reported no royalties on his two memoirs and Jill reported none on her book, Where the Light Enters.
Jill did, however, note that she received up to $1k in royalties from her two children's books, Don't Forget: God Bless Our Troops and JOEY: The Story of Joe Biden. The First Lady is expected to release a third children's book in July — Willow the White House Cat — which covers life at the White House from the famous feline's perspective.
The first lady recorded $1,000 in royalties from her two children's books.
While Jill reported her income from teaching at Northern Virginia Community College, where she's taught since 2009, she did not disclose the exact salary amount. The president additionally reported having less cash in his bank account than the previous year.
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Biden recorded $50k to $100k in one bank account on this year's form, a significant drop from last year's statement of $250k to $500k.
Another account showed between $50k to $10k on hand, another dip from the previous year's $100k0 to $250k in the bank.
