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Biden without invitations and with little extra income: “luxury unemployed”
The former president is struggling to secure speaking engagements, weighed down by his age, lack of popularity and fear of retaliation from Trump
Little interest in his speeches – Joe Biden, 82 and approaching 83, is receiving few offers for honorary positions and paid conferences, usually a source of income for former White House occupants. According to the Wall Street Journal, fees for such appearances range from $300,000 to $500,000, but requests are scarce.
The reasons for the chill – The former president is paying for his decision to run for re-election and then withdraw late, contributing to Donald Trump’s victory and irritating the Democratic establishment. Many companies and private institutions also fear possible retaliation from the current administration if they host Biden as a prestigious speaker.
Bills to pay – Biden had planned to use the proceeds from the speeches to cover approximately £600,000 in debts and mortgages, including those for his £2.1 million home in Rehoboth Beach. His son Hunter’s legal fees and his desire to leave an inheritance for his grandchildren also weigh heavily.
A solid financial foundation remains – Despite the difficulties in monetising conferences and public appearances, the Biden family is not in dire straits: the former president receives an annual pension of $416,000 – $250,000 as a former head of state and $166,000 as a former member of Congress and vice president – and in July he signed a $10 million contract with a publishing house for his memoirs.
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