After defeating Donald Trump, Joe Biden became the 46th president of the United States today.
On November 7 last year, Biden, who served as vice president during the Obama administration, was voted to become president.
Biden has managed to go from the “poorest man in Congress” to a millionaire, with decades of experience behind him.
Here we take a look at the salary of Biden as he gets established in the world’s most powerful office.
How much is the presidential salary for Joe Biden?
Biden would receive $400,000 annually, or about £294,000, as president of the United States.
As a politician, Biden has been very transparent about his income.
In 1972, while he was 29, Biden was elected from the state of Delaware to the Senate.
His salary when he began serving in the Senate was $42,500 a year.
He had earned $169,300 by the time he left in 2009.
And as Barack Obama’s Vice President, his pay shot up to a further $230,700.
Even though much of his fortune is believed to have come from book deals and speaking fees.
At the time of release in 2008, his first memoir, Promises to Keep, won him $71,000 in royalties and $9,500 for audiobook rights.
Yet his profits sky-rocketed after leaving the White House.
According to Forbes, Biden gained more than $15million from 2017 to 2019.
This allegedly includes a $8million book contract, $1.8million from book tour activities and $2.4million in speaking fees.