How Joe Biden Has Become $2 Million Richer While In Office

Today we continue digging into the personal finances of the 2024 presidential candidates.

Here’s How Much Joe Biden Is Worth

President Biden is worth an estimated $10 million, up from $8 million when he took office. The increase has nothing to do with family business dealings in far-flung countries. Instead, he is getting richer by doing what a lot of 80-year-old Americans are doing: sitting on real estate. The president owns two homes in Delaware that are worth an estimated $7 million combined, $1.8 million more than they were when he took office.

From The News Desk

Here’s How Much Robert F. Kennedy Jr. Is Worth

For decades, the Kennedy clan has been one of America’s most powerful—and most prosperous, reports Chase Peterson-Withorn. Joe Kennedy, father to President JFK, Attorney General RFK and Senator Ted, got rich speculating on stocks and investing in real estate, seeding a family fortune that Forbes last estimated to be $1.2 billion in 2015. RFK Jr., one of Joe’s 29 grandchildren, is the fourth descendant to run for president—and the first to do so without the backing of the broader family. He’s not putting any of his own money into his campaign, either. Asking strangers for donations on social media may not seem very Camelot, but it makes sense once you realize that RFK Jr. has inherited a lot more Kennedy cachet than actual Kennedy cash.

How 2024 Presidential Candidate Francis Suarez Built A $6 Million Fortune

As a Miami City commissioner 12 years ago, Francis Suarez was worth negative $99,000, reports Kavya Gupta. A dozen years later, he sits atop an estimated $6 million fortune. How could anyone make that much money on a meager city salary? Simple: By working private-sector jobs while serving in office.

For at least 12 years, Suarez has bolstered his government pay with earnings from outside firms. As his political stature has increased, his earning power has, too. Since 2017, Suarez has received $130,600 of annual compensation as Miami’s mayor, but he appears to have hauled in millions more serving as an attorney at one of the nation’s top law firms, Quinn Emanuel Urquhart & Sullivan, and also acting as a senior operating partner at a Miami private equity shop named DaGrosa Capital Partners.

Hunter Biden Claims DOJ Backtracked On Plea Deal

Hunter Biden claimed federal prosecutors walked back a plea deal on tax and gun charges last week, his lawyers said in a new court filing on Sunday—as Hunter Biden’s legal woes head toward a potential trial and continue to muddy his father’s re-election campaign, reports Sara Dorn.

By The Numbers

$3,575

The amount Trevian Kutti donated to Hillary Clinton’s campaign in 2007 and 2008. Kutti, a Chicago-based publicist who formerly represented Ye, was charged with attempting to overturn the 2020 presidential election alongside former President Donald Trump.

Tens of millions of dollars

The amount conservative mega donors Tim Dunn, Farris Wilks and Dan Wilks have donated to Defend Texas Liberty and Empower Texans, a new anti-gun control nonprofit founded by Kyle Rittenhouse.

$1.1 million

The amount of Sen. Ted Cruz’s (R-Texas) advance for a two-book deal he signed in January 2022, according to a financial disclosure filed with the Senate on Monday.

Road To 2024

On Saturday, a supporter of GOP Candidate Vivek Ramaswamy spoke to “Forbes Eye On Iowa” about why she wants him to be the next president.

Tracking Trump

Trump Indicted By Fulton County Grand Jury In Georgia Election Interference Case

A Fulton County, Georgia, grand jury indicted former President Donald Trump in connection with his efforts to overturn the results of the 2020 presidential election in the state Monday, marking his fourth indictment since announcing his latest campaign for president, reports Sara Dorn.

Donald Trump Is Invested In Cryptocurrency

Donald Trump holds $250,000 to $500,000 of assets in a cryptocurrency wallet, according to a financial disclosure released last month, reports Steven Ehrlich and your correspondent. The asset, listed on Trump’s disclosure as “cryptocurrency wallet (Ethereum),” appears to be connected to a collection of non-fungible tokens, or NFTs, that he marketed after leaving the White House.

CEO Of Trump’s New Lender Sells $11 Million Of His Bank’s Stock

The CEO of Axos Financial, which replaced Deutsche Bank as Donald Trump’s lender of choice after the former president left the White House, offloaded $10.7 million worth of stock in his own firm last week, according to securities filings.

Axos’ Gregory Garrabrants ditched 236,000 shares at prices ranging from $45.15 to $45.60 between Aug. 1 and Aug. 4. Axos stock closed at $43.72 on Thursday.