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Thursday, May 26, 2022

Kamala Harris is richer than Joe Biden (and sells a lot more books)

Latest NewsKamala Harris is richer than Joe Biden (and sells a lot more books)

Joe Biden is her boss, but Kamala Harris is clearly richer and her books are much more successful. The White House published this Friday reports on the property and income of the President and Vice President of the United States. Although the reports are not very accurate, the conclusion is that Harris has a much higher financial net worth as well as a higher income outside of his position.

The most accurate data on income from the sale of books. And Harris is a bestseller since Biden. Last year, the President received just over $29,000 (about €28,000 at current exchange rates) for the rights to his book Promise Me, Dad, a book published in 2017 that commemorates the death of his eldest son. Bo Biden, from a brain tumor. And a minimum amount, less than $201, for royalties from his 2008 book Promises.

Kamala Harris fared much better with more recent books. He made just over $326,000 from various editions of The Truths We Hold, released in 2019. He made another $130,000 from Superheroes Everywhere, his children’s book about the same anus. Total about $456,000.

It is more difficult to draw conclusions about the wealth of Biden and Harris. The way in which the property declarations of high-ranking White House officials are compiled leaves a very wide range, which makes it difficult to count the property of each of them. The amount of bank accounts, investments in funds or pension plans are announced one after another without publishing numbers: it is about whether it is, for example, from 15,000 to 25,000 dollars, from 25,000 to 50,000, from 50,000 to 100,000 , from 100,000 to 250,000, from 250,000 to 500,000, or from 500,000 to one million dollars. The $501,000 account is in the same category as the $999,000 account. When dozens of accounts are declared, the estimation error increases many times over.

Mortgages until 2043 for Biden

In general, with more margin for error, Harris announces more accounts and spreads at higher levels. Biden declares between $700,000 and $1,500,000 in bank accounts and also adds an investment of between €195,000 and €650,000. The President of the United States has a mortgage with TD Bank, the US subsidiary of Canadian financial giant Toronto-Dominion Bank. This is a loan ranging from $250,000 to $500,000 for which you pay an interest rate of 3.375%. It was signed in 2013 for a 30-year term that expires in 2043, 101 years after Biden was born. Biden has two more non-mortgage loans ranging from $15,000 to $50,000.

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Kamala Harris, for her part, has $750,000 to $1,500,000 in individual accounts and $250,000 to $500,000 in her husband, successful lawyer Doug Emhoff, who also has a large fortune to his name. which exceeds the property of the first lady. Jill Biden. Harris also has between $775,000 and $1,850,000 in retirement plans and other investments. However, Harris has a large $1 million to $5 million mortgage signed in 2020 with Wells Fargo at 2.625% APR and 7 years to purchase his family residence. He had another mortgage for the same amount, but he sold the property and paid off the loan.

The size of these mortgages (with such a wide range) and the fact that property declarations do not include real estate mean that any conclusions about the wealth or net worth of the President and his Vice President must be taken with caution.

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