Joe Biden's net worth and Fortune early Financial struggles Joe Biden's Financial journey is a story of persistence and growth unlike some of his predecessors Biden did not enter politics with vast wealth in fact for much of his career Biden was known as one of the least wealthy members of the Senate he often referred to himself as middleclass Joe a moniker that resonated with many Americans who saw in him a reflection of their own Financial struggles during his time in the Senate Biden's income was primarily derived from his government salary in 1973 when he first took office as a senator his annual salary was around $42,500 which was a modest sum even then Biden supplemented his income through teaching positions and book royalties but his financial situation remained relatively modest for most of his Senate career