Inflation isn’t just hurting voters. President Joe Biden’s variable interest rate on his home equity loan means he’s paying more to borrow these days, too. Forbes staff writer Zach Everson joins Brittany Lewis on "Forbes Newsroom" to discuss.
Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2024/05/15/biden-borrowed-at-least-50000-via-home-equity-loan-new-disclosure-reveals/
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Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2024/05/15/biden-borrowed-at-least-50000-via-home-equity-loan-new-disclosure-reveals/
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
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NewsTranscript
00:00 The Biden's net worth pales in comparison to the predecessor, former President Donald Trump.
00:05 But I am curious how this recent disclosure compares to Donald Trump's.
00:10 Yeah, so Trump didn't actually file a disclosure this year. He requested a 45 day extension,
00:17 which is absolutely legal and something he can do. You know, just as a reporter,
00:21 what was fascinating to me was that Biden's disclosure was like 11 pages and three of them
00:26 were blank, whereas Trump's goes on for hundreds of pages. It was just very strange. And I've
00:32 focused a lot more on Trump's businesses. There's a lot more to report there. And,
00:37 you know, I'm used to looking at his disclosures and all of a sudden with Biden's, I'm like,
00:40 are there some pages missing in here? But no, everything was there.
00:43 And what does that indicate with the page disparity there?
00:47 Well, I mean, obviously, the former President Trump has a slew of business interests that are,
00:54 you know, go across the globe and that are incredibly intricate and messy and interconnected
01:00 and requires a lot of reporting. He has a ton of LLCs that you need to report. He has many
01:06 securities holdings that need to report, whereas Biden is, you know, simple, just,
01:12 you know, much more in line, I think, with what an average American would have, except for the
01:15 fact that it is worth $10 million, which clearly the average American is not worth.