Biden, Harris net worth nowhere near viral post's claim | Fact check

The claim: Net worth of Biden, Harris more than quadrupled between 2019 and 2022

A Sept. 4 Facebook post (direct link, archived link) uses a meme to claim President Joe Biden's net worth increased from $9 million in 2019 to $41 million in 2022, while Vice President Kamala Harris' grew from $6.3 million to $28 million.

"Let that sink in," reads the post's caption.

The post was shared more than 1,500 times in three weeks. Similar versions of the claim were shared on Instagram and Facebook.

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Our rating: False

The post exaggerates Biden and Harris' net worths by tens of millions of dollars. Neither has a net worth that exceeds $11 million, according to Forbes.

Post inflates Biden and Harris' net worths

Like all other high-level federal officials, the president and vice president are required by the Ethics in Government Act of 1978 to file annual financial disclosures, listing their sources of income, liabilities and assets. This makes it possible to estimate their respective net worths, though the values are listed in broad ranges rather than precise amounts. Personal properties are also not included in the disclosures.

Forbes estimated Biden and his wife's net worth in 2019 as $9 million. This was based on the $4 million value of their two Delaware homes, cash and investments valued at $4 million and a federal pension worth more than $1 million.

Forbes did not calculate his net worth in 2022. But the outlet estimated his net worth rose to about $10 million in 2023. A USA TODAY review of Biden's financial disclosures in 2022 and 2023 found no significant changes in his assets or liabilities, so it is reasonable to assume his net worth was in that range in 2022.

There are no credible news reports about his net worth being anywhere near $41 million, in 2022 or otherwise.

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Harris' financial situation is also overstated. Forbes estimated her and her husband Douglass Emhoff's net worth at $6 million in 2019. There are no reliable estimates for her net worth in 2022. But in 2024, Forbes estimated her net worth as being $8 million, up from $7 million in 2021.

A USA TODAY review of her disclosures from 2021, 2022 and 2023 found no significant changes that would increase her personal wealth by more than $20 million, as the post claims. There are no credible news reports about her net worth ever being near $28 million.

David Karpf, a professor of media and public affairs at George Washington University, told USA TODAY the claim about Biden and Harris' net worth is baseless.

"These unsourced internet rumors are at odds with publicly reported data from the Office of Government Ethics website," Karpf said. "They appear to just conjure large numbers out of thin air. There is no reason or evidence to suspect that either President Biden or Vice President Harris has significantly more wealth than they have previously publicly disclosed."

USA TODAY reached out to the user who shared the post for comment but did not immediately receive a response.

Reuters and AFP also debunked the claim.

Our fact-check sources:

• David Karpf, Sept. 23, Email exchange with USA TODAY

• Office of Government Ethics, May 15, 2020, Joe Biden Financial Disclosure

• Office of Government Ethics, May 15, 2023, Joe Biden Financial Disclosure

• Office of Government Ethics, May 15, 2023, Kamala Harris Financial Disclosure

• Office of Government Ethics, May 15, Joe Biden Financial Disclosure

• Office of Government Ethics, May 15, Kamala Harris Financial Disclosure

• Forbes, March 5, 2020, The Net Worth Of Every 2020 Presidential Candidate

• Forbes, July 21, Here’s How Much Kamala Harris Is Worth

• Forbes, June 20, Here’s How Much Joe Biden Is Worth In 2023

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This article originally appeared on USA TODAY: Post inflates Biden, Harris net worth | Fact check