According to the Independent, former US President Joe Biden and his family are facing serious financial difficulties. According to reports, the Biden family's debts have reached nearly $800,000, including mortgage payments for a house located in Rehabot Beach, Delaware.
As a former president and long-time senator, Joe Biden's annual pension and allowance is $416,000. However, these funds are not enough to fully cover the family's daily expenses. Currently, Biden has no additional sources of income.
Turning the prestige gained during his presidency into a business isn't easy for Biden. Many companies have refused to invite him to expensive lectures, and his political allies are gradually moving away from him. For this reason, it was difficult to find clients willing to pay Biden 300-500 thousand dollars for lectures. In the current situation, the family's main hope is focused on the expected income of about $10 million from the publication of his memoirs.
However, this figure appears insignificant compared to the $60 million he earned from selling former President Barack Obama's books.
At the same time, Joe Biden is fighting prostate cancer. His wife, Jill Biden, has retired from teaching and is now engaged in unpaid public work. Another heavy burden of the family belongs to their son, Hunter Biden. She owes several million dollars in alimony, and her sources of income sharply decreased after interest in her books, paintings, and public appearances faded.
Due to financial difficulties and health problems, the Biden family is currently undergoing serious trials.
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