The president’s assets have risen by about $2 million since he took office in January 2021, according to a new estimate by Forbes. The increase is due mostly to the rising value of his homes in Wilmington and Rehoboth Beach, Delaware, rather than any lucrative influence peddling. The properties are worth a combined $7 million, about $1.8 million more than when Mr. Biden was elected president.
During eight years as vice president, the Wilmington house even generated a tidy income. The Secret Service rented a cottage on the property, paying Mr. Biden $26,400 per year. Included in that soaring income were speaking fees, book contracts, and nearly $1 million in payments from the University of Pennsylvania from 2017-19 for a professor emeritus post that required very little work.
House investigators released bank records last month documenting how the Biden family and associates collected millions of dollars from Russian, Kazakh and Ukrainian oligarchs while Joseph Biden was serving as vice president.
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