Biden and wife made more than $15 million in the last two years

Joe Biden and wife Jill Biden speak during the kick off former US vice president Biden's presidential election campaign in Philadelphia, Pennsylvania, on May 18, 2019. (AFP)

Former Vice President Joe Biden and his wife, Jill, earned more than $15 million in the years since Biden left government, according to tax records released by his campaign on Tuesday.

The majority of their income came from speaking engagements and payments for two books written by Biden, a top contender for the 2020 Democratic presidential nomination.

The former senator from Delaware served as Barack Obama’s vice president for eight years, leaving office in early 2017 after the election of President Donald Trump.

According to federal and state tax returns, the Bidens earned about $11 million in 2017 and another $4.58 million in 2018. About $13.2 million of that was attributable to book payments.

The Biden campaign also released a financial disclosure form mandated for presidential candidates, which shows that Biden was regularly paid a six-figure fee for speaking events, many at private universities. The bulk of that income came from book tour events and speaking engagements at private colleges such as Drew University, where Biden was paid $190,000, and Vanderbilt University, where he received $180,000.

The campaign did not provide any detailed information about Biden’s speaking engagements in 2017.

Biden also earned $540,000 in that span as a professor at the University of Pennsylvania.

According to the couple’s tax returns, they paid $3.7 million in federal taxes in 2017 and donated about $1 million to charity. In 2018, they paid $1.5 million in federal taxes and donated about $275,000 to charity.

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Last Update: Wednesday, 20 May 2020 KSA 09:53 - GMT 06:53
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