White House wealth: Bidens' assets and income revealed

White House wealth: Bidens' assets and income revealed
Official documents also cover Kamala Harris, Doug Emhoff.
MAY 16, 2024
By  Bloomberg

Pop superstar Beyoncé gave Vice President Kamala Harris tickets worth $1,656 to one of her shows in 2023, according to financial disclosures released by the White House that provide detailed information on the finances of President Joe Biden, his running mate, first lady Jill Biden and Second Gentleman Doug Emhoff.

The documents list the values of their assets and provide their income and debts in broad ranges. Officials also disclose other information, including continuing participation in former employers’ retirement plans and gifts they have received. 

The disclosure doesn’t specify which concert Harris attended, but the vice president posted a picture of herself and Emhoff on Instagram last August thanking Beyoncé “for a fun date night.” The performer was in town the day of the post, bringing her Renaissance World Tour to what was then known as FedEx Field in Landover, Maryland, near Washington, DC.

The vice president also reported that cable sports network ESPN gave her tickets — worth $1,890 — to see Howard University, her alma mater, take on Florida A&M University’s football team in a championship game last December. 

The Bidens reported receiving no gifts, and listed assets worth between $1 million and $2.6 million in their disclosure. Their outside income beyond the president’s government paycheck and the first lady’s salary from a community college was no more than $64,000. They disclosed debts of at least $375,000, the bulk of which is a home mortgage.

The president’s biggest source of income was a US bank account that produced between $15,000 and $50,000 in interest. He had at least $700,000 in cash held in various bank accounts, by far his biggest holdings. He also reported $1,678 in cash distributions from a pair of individual retirement accounts. 

Jill Biden disclosed receiving a salary from Northern Virginia Community College, where she’s a professor, but was not required to provide the amount.

Harris has between $550,000 and $1.1 million in cash in US bank accounts. She also holds between $775,000 and $1.8 million in retirement funds.

Federal law requires high-ranking officials to publicly disclose financial information to prevent conflicts of interest. The documents are reviewed and certified by the US Office of Government Ethics. 

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound