The former President of the United States, Joe Biden, who was reportedly on the verge of being ousted before the 2024 election, is finding his post-presidential life less financially rewarding than he had anticipated, a recent report reveals.
As reported by the Wall Street Journal, Biden's diminished appeal can be attributed to several factors. His advanced age, coupled with his waning popularity within Democratic circles, has made him less of a sought-after figure.
The report also highlighted the growing disdain within the Democratic party towards Biden's re-election campaign, which has further dampened interest in him.
Despite his willingness to deliver speeches for fees ranging between $300,000 and $500,000, there are few takers, according to the report. It was also suggested that at least one group attempted to negotiate below Biden's minimum fee, a claim that his representatives have refuted.
Upon leaving the White House, Biden had hoped to clear approximately $800,000 in debt, including loans on his $2.7 million beach house in Rehoboth Beach, Delaware, which he purchased in 2017, the Journal reported. However, it's important to note that Biden is far from destitute.
He is set to receive $10 million from a book deal and draws an annual federal pension of about $416,000.
Biden's efforts to raise funds for a presidential center at the University of Delaware have been hampered by lingering frustrations over his campaign and his lack of transparency regarding his age-related limitations, according to the Wall Street Journal. Despite Biden's previous claims that the University of Pennsylvania was interested in hosting his presidential center, the Journal suggested that the institution was less than impressed by the "light programming" provided by the Penn Biden Center.
Even as Democrats strive to look to the future, debates over Biden's final political act persist. "The overwhelming majority of elected Democrats are focused on moving forward. There's no interest for them in re-litigating this and neither are the vast majority of voters," said Tommy Vietor, a former Obama administration official and co-host of the podcast "Pod Save America."
Former Vice President Kamala Harris criticized Biden's decision to seek a second term, a decision that ultimately led to her running against President Donald Trump. In her recent book, she wrote, "The stakes were simply too high. This wasn't a choice that should have been left to an individual's ego, an individual's ambition. It should have been more than a personal decision."
Ammar Moussa, who worked on the 2024 campaign for both Biden and Harris, believes the question of Biden's age will continue to be a point of contention. "The Joe Biden age question really fundamentally broke Americas trust in the Democratic Party after years of them feeling that promises had been broken," Moussa said.
However, Moussa also noted that this issue might not be a primary concern for voters in the upcoming elections. "I dont think voters are going to make their decisions for 2026 based on who said what about Joe Biden," Moussa said.
"But if youre a politician running for office in 2026 and 2028 and you dont have a good answer on Should Joe Biden have run in 2024 and come up with the same spin, voters are going to see through you."
As the political landscape continues to evolve, the legacy and decisions of former President Biden remain a topic of discussion, influencing both public opinion and the strategies of future political contenders.
Login