Speaking Nov. 7 at Nebraska Democrats’ Ben Nelson Gala in Omaha, former President Joe Biden alleged that President Donald Trump and his family had made $1.8 billion from the presidency — a figure promoted by the Center for American Progress — drawing swift rebuttals and renewed scrutiny of both families’ finances.
Former President Joe Biden returned to the political stage in Omaha on Nov. 7, addressing the Nebraska Democratic Party’s annual Ben Nelson Gala and celebrating recent Democratic wins while taking repeated aim at President Donald Trump. The Associated Press described the speech as warmly received but at times quiet and garbled as Biden, 82, urged Democrats to stay engaged. (apnews.com)
In remarks captured on video and reported by the Daily Wire, Biden told the crowd: “Has anyone noticed how much the Trump family has made while he’s been president? A reported $1.8 billion.” The estimate closely tracks a new Center for American Progress (CAP) tracker, launched Oct. 23, that tallies “cash and gifts” it says the Trump family has received since Trump’s November 2024 reelection — largely from crypto-related ventures and other income streams tied to his office — and which displayed roughly $1.8 billion at the time. (dailywire.com)
CAP’s tracker emphasizes that its figure focuses on cash flows and gifts it links to Trump’s current presidency, excluding most preexisting real-estate assets and unrealized gains. The methodology and conclusions have not been endorsed by government auditors, and the Trump Organization has said Trump will be separated from day‑to‑day management of his businesses during his term. Ethics experts have long noted, however, that Trump did not divest in his first term and remained the revocable trust’s beneficiary — a structure they said fell short of a true blind trust. (americanprogress.org)
Republicans and other critics seized on Biden’s attack to spotlight his own family’s business controversies. House Republicans have released bank records showing Biden relatives received millions of dollars from foreign-linked entities over several years, and frequently cite a 2017 email referencing “10% for the Big Guy.” Independent reporting has confirmed the email’s existence and competing interpretations of who the “Big Guy” is, but investigators and major news outlets have not established that Joe Biden received or directed payments in exchange for official acts. (apnews.com)
Biden’s $1.8 billion line also revived a broader debate over what Trump personally gained or lost in office. A watchdog analysis of Trump’s first term found he reported more than $1.6 billion in outside revenue and income on his financial disclosures from 2017–2021, though “revenue” is not the same as profit. Separately, Forbes and Bloomberg estimates indicated Trump’s net worth fell during that period, with Bloomberg pegging it at about $3 billion when he took office in 2017 and roughly $2.3 billion by January 2021 amid pandemic-era hits to hotels and offices — leading some outlets to note he was the rare recent president whose wealth declined while in office. (citizensforethics.org)
Trump repeatedly announced that he would donate his presidential salary to federal agencies, a pledge that was publicly documented through mid‑2020; The Washington Post later reported the final six months of donations were not confirmed. (washingtonpost.com)
Biden’s own finances have also drawn attention. PolitiFact and Newsweek, citing Forbes, put his net worth at roughly $10 million in recent years, up about $2 million since taking office in 2021 — gains they attribute largely to appreciation in his two Delaware homes rather than new business ventures. Local and national outlets confirmed Biden’s Omaha appearance and themes, but did not independently verify every line quoted from clips circulating on social media. (politifact.com)
For historical context, Newsweek — drawing on outside estimates including CelebrityNetWorth and AfroTech — has reported that former President Bill Clinton’s wealth rose from about $1.3 million to roughly $120 million and Barack Obama’s to about $70 million after leaving office. Those figures are approximate and reflect post‑presidential earnings from books, speaking and other ventures, not just time in the White House. (newsweek.com)
