January 26th, 2012 12:50 pm EST
Vice President Is Not in the Millionaire Club
It's no secret - there are plenty of millionaires in Congress.
All four of the remaining Republican candidates for President are multi-millionaires.
Rick Santorum is worth roughly $1.94 million.
Ron Paul is worth roughly $3.93 million.
Newt Gingrich is worth roughly $19.0 million.
Mitt Romney is worth roughly $171.7 million.
There are millionaires abound in Congress - this is no secret. Even Barack Obama is a multimillionaire.
However, it may surprise you to learn that one of the most powerful men in the country, Vice President Joe Biden, has a very average net worth.
Joe Biden, who portrays himself as an everyman, has the financial net worth of an everyman.
According to Biden's most recent financial disclosure, the Vice President had a net worth of between -$258,970 and $718,994 as of the end of 2010. That's right - there is a possibility that the Vice President of the United States currently has a negative net worth (ranges are given for assets and income in the financial disclosures, so we don't know his exact net worth). Joe Biden's net worth is pretty much an exact opposite of former Vice President Dick Cheney's net worth - Cheney was worth an estimated $29 million when he left office in 2008.
Biden's largest asset is a rental property that is worth between $100,001 and $250,000. His largest liability? A home equity line of credit of between $100,001 and $250,000.
As a matter of fact, Biden had multiple liabilities listed on his 2010 financial disclosure, including the aforementioned LOC, a signature note with monthly payments, a standard line of credit (between $15,001 and $50,000) and loans against the cash values of some life insurance policies.
In a Congress where there are an abundant number of millionaires, Biden stands out for his relatively "normal" net worth.
Source: Joe Biden Net Worth