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In what Biden, Trump and Obama made millions of fortunes: American politics is a race of bags of money

Date: March 4, 2024 Time: 01:56:29

US President Joe Biden’s financial cushion is now between $8 million and $9 million

Photo: REUTERS

Big politics always goes hand in hand with big money. In America, political circles are, in fact, a closed club for graduates of prestigious universities and people from wealthy families. But even those who go into politics, without a silver spoon in their mouths, can accumulate and increase their fortune. Having gained power and popularity, they skillfully monetize their own name, turning it into a premium brand. But who is the richest in the starry political sky?

Joe Biden, worth around $9 million

According to various estimates, the financial pillow of US President Joe Biden is now between 8 and 9 million dollars, which is quite modest by the standards of this list. However, old Joe has grown considerably rich of late. Stepping down as vice president in 2017, he only had $2.5 million in his soul. The Biden couple actively sells his books. Also, the current owner of the White House managed to get about $2.5 million, speaking at events in 2017-2019. The family owns two houses in Delaware worth about $4 million, with the same amount in investments. By the way, the official salary of the President of the United States is $400,000 a year.

Kamala Harris, net worth up to $15 million

Vice President Kamala Harris – $8-15 million

Photo: REUTERS

The second man in US politics, Vice President Kamala Harris, is richer than her boss. Her fortune (along with her husband’s income) is estimated at $8-15 million. Kamala received her first significant income from her with the publication of three books in 2009-2019. Her annual salary as vice president is $235,000. Additionally, Harris owns an impressive portfolio of stocks and bonds. As of 2021, the total value of her family’s investments was estimated to be between $2.5 million and $5 million. The vice president owns several properties in California and a townhouse in Washington. The total cost of it is estimated at $8 million.

Donald Trump net worth: $2.5 billion

Trump currently has about $2.5 billion at his disposal.

Photo: REUTERS

The 45th president of the United States, who entered politics from big business, is the richest of all the residents of the White House. During his time in office, Trump has lost half of his fortune, but that doesn’t stop him from striving to return to the Oval Office. Trump now has around $2.5 billion available to him. The scandalous politician received a solid inheritance from his father, which he was able to multiply by investing in construction, gambling and other areas. The crown of his success is the famous 68-story Trump Tower in New York. Trump’s track record includes expensive real estate, luxury cars and a personal Boeing 757, but the most luxurious lot is the Mar-a-Lago mansion in Florida. The mansion with a huge territory is worth $300 million and has 58 rooms, 12 fireplaces and even 3 bomb shelters.

Barack Obama, worth around $70 million

Barack Obama – just over $1 million

Photo: GLOBAL LOOK PRESS

The 44th president of the United States, Barack Obama, has not held any political office since 2016, but he does not live on a pension. Upon taking office, the first black president was left with almost no money, with just over 1 million in his soul, however, now that amount has grown 70 times. The secret to financial well-being of most former presidents is simple: trade in their own name, and Barack Obama succeeded here. He receives fabulous fees for public speaking, as well as millions in income from the sale of his books. Prices for Obama’s performance at the event are rumored to be as high as $400,000. In 2018, the media wrote about Obama’s contract with Netflix, the amount of which was not disclosed. In 2019, the family purchased a property for $11.75 million in Massachusetts.

Governors and congressmen advance

Lesser-known politicians in Congress and the states sometimes beat their more senior colleagues like children in the race for wealth. Some members of Congress were already born rich, others managed to run a big business and only later entered politics, but the amounts in their accounts would surprise ordinary Americans, whose interests they supposedly represent.

The pedestal of the richest congressmen is occupied by the Republicans: Darrell Isa ($460 million), Rick Scott and Mitt Romney ($300 million each). Isa, even before taking a seat in the House of Representatives, created the famous Viper car alarm. He then sold the company and invested the proceeds in real estate and securities, earning half a million dollars.

Senator Rick Scott served in the US Navy, founded Columbia Hospital, walked away with $300 million in stock, served as Governor of Florida, and now sits in the Senate without worrying about whether he’ll be able to pay his bills.

Senator Mitt Romney has been accustomed to wealth since childhood. His father was CEO of American Motors, then became governor and worked on President Nixon’s team. The son followed in his footsteps, made money from private investments, was governor of Massachusetts, tried his luck in the presidential race without success, and now represents Utah in the Senate.

There are billionaires among the governors. Democratic Illinois Governor JB Pritzker is worth more than $3.5 billion. He comes from one of the richest clans in the United States, owner of the Hyatt hotel chain. The governor himself made money by running the Pritzker Group stock company. He now runs his home state. The second billionaire is North Dakota Governor Doug Burgum. He has a little over a billion dollars in his accounts. The Republican made a name for himself in the IT industry, building a small start-up called Great Plains Software into a well-known company that was bought by Microsoft in 2001, where Burgum became vice president.

However, in the context of American businessmen, the members of this list still seem quite modest. For comparison, according to Forbes, the three richest Americans look like this: Elon Musk ($180 billion), Jeff Bezos ($114 billion), and Larry Ellison ($107 billion).

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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