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Vice President Kamala Harris is far wealthier than President Joe Biden, financial forms reveal

By Andrew Feinberg
AP

Newly-released financial disclosure forms show a significant wealth disparity between President Joe Biden and Vice President Kamala Harris, with Ms Harris’ and First Gentleman Douglas Emhoff’s assets exceeding the First Family’s by a large margin.

On the section of the annual disclosure form which lists bank accounts, Ms Harris reported one account with a balance between $250,001 and $500,000, and one account with a balance between $500,001 and $1,000,000, with the latter account generating between $201 and $1,000 in interest income for her last year.

She also reported Mr Emhoff has an account in his name with a balance between $500,001 and $1,000,000, with the Second Couple also having a joint account which holds between $250,001 and $500,000.

Mr Biden reported six bank or credit union accounts in his name, with two having a balance that is more than $1,001 but less than $15,000, two with balances between $250,001 and $500,000, and two with balances between $100,001 and $250,000.

Much of the difference in wealth between the Bidens and Ms Harris and her husband is at least in part due to Mr Emhoff’s years as a high-powered entertainment attorney.

While Mr Biden’s investment portfolio includes shares in nine mutual funds worth between $15,001 and $50,000 as well as life insurance policies with the same value, Ms Harris and Mr Emhoff hold investments in 30 different funds with values as high as $500,00 each.

Additionally, Ms Harris’s $456,121.85 in royalty income from three books she has written, The Truths We Hold, Smart on Crime: A Prosecutor's Solution for Making the Streets Safer, and a children’s book, SuperHeroes are Everywhere.

Both Mr and Ms Biden have also written books, but they reported far less royalty income.

For Ms Biden’s book Don’t Forget, God Bless Our Troops, she reported earnings between $15,001 and $50,000 in royalty income last year, but less than $201 for two others, Where the Light Enters and JOEY: The Story of Joe Biden.

Mr Biden’s Promise Me, Dad — a memoir about the death of his eldest son, Beau Biden — brought him between $15,001 and $50,000 last year, but his previous book — Promises to Keep — published in the run-up to his unsuccessful 2008 presidential campaign, was far less of a hot seller. Mr Biden reported earning either no income or less than $201 in royalties from that book.

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Dive Deeper:
White House releases financial disclosures for Biden, Harris
New reports detail the personal finances of President Joe Biden and Vice President Kamala Harris
‘It screws with an already vulnerable mind’: How the cost of living crisis is affecting the nation’s mental health
Soaring bills and a lack of support from the government are causing ‘huge pressure’ for people with mental health problems,…
Coleen Rooney-Rebekah Vardy timeline: What happened in the ‘Wagatha Christie’ libel case?
Footballers’ wives at High Court to settle long-running defamation dispute
Morrison ramps up class war with intergenerational wealth shift — yet pitches at first-time buyers
The PM has used the Liberal campaign launch in Brisbane to promise the biggest wealth shift between generations in decades…
One subscription that gives you access to news from hundreds of sites
Coleen Rooney-Rebekah Vardy timeline: What happened in the ‘Wagatha Christie’ libel case?
Footballers’ wives at High Court to settle long-running defamation dispute
How does the Coalition’s super scheme for first-homebuyers work and would it drive up prices?
Will it make housing unaffordable, as critics claim, and how does it compare with Labor’s Help to Buy scheme?
Get all your news in one place