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Biden’s personal finances have changed little in 2023, documents show
By Trevor Hunnicutt and Nandita Bose
WASHINGTON (Reuters) – U.S. President Joe Biden revealed little changed personal financial situation in 2023, although royalties from his books have fallen, money in his bank account has dwindled and the amount owed on a loan to purchase a house has increased, federal documents show.
Biden and his wife Jill Biden reported total assets of between about $1 million and $2.6 million and liabilities of between about $350,000 and $850,000, according to an Office of Government Ethics form that lists ranges rather than precise numbers.
The White House released the documents on Wednesday. Biden, a Democrat, is seeking re-election in 2024 and the economy’s performance has been a key issue for voters. His Republican rival Donald Trump’s finances have been in focus amid multiple lawsuits.
A previous tax disclosure showed the Bidens’ income rose 7% to $619,976 in 2023. Trump, who is not a serving official, did not make a comparable disclosure.
A report covering the finances of Vice President Kamala Harris and her husband Doug Emhoff was also released. Harris reported receiving tickets valued at $1,655.92 for a Beyoncé concert by the “Texas Hold ‘Em” artist.
Biden’s liabilities include a mortgage on his personal home with a balance between $250,001 and $500,000. The interest rate on the mortgage, which Biden took out at TD Bank in 2013, is 3.375%.
The president took out a home loan in 2022 with a variable interest rate and 10-year term, which increased from $100,000 to $250,000, from $15,001 to $50,000.
The president also reported having less money in the bank than last year.
One of his bank accounts showed cash totals of $50,000 to $100,000, up from $250,000 to $500,000 last year. Another account showed $50,000 to $100,000 in cash, a drop from $100,000 to $250,000 a year earlier.
The Bidens earned less than $6,201 in royalties last year from a series of books they wrote about their half-century in public life.
(Reporting by Trevor Hunnicutt and Nandita Bose in Washington; Editing by Josie Kao)