Hunter Biden’s Financial Struggles

In a deposition transcript, Hunter Biden stated that his family is financially struggling and he is overwhelmed by legal fees. The deposition involves a lawsuit with the firm Winston Taylor over unpaid legal bills. The firm alleges that Biden owes them $17 million for services related to criminal defense, congressional inquiries, and defamation lawsuits.

“My family doesn’t have any money, and it’s not their debt anyway,” he said, according to the transcript. “I don’t own anything of any value other than my paintings, which I painted myself. So that’s it. And I don’t even have any other assets at all, stocks, bonds, anything like that, savings accounts.”

Reports suggest financial difficulties for the Biden family. The Wall Street Journal noted that former President Joe Biden has faced challenges in financially benefiting from his presidency compared to predecessors. Upon leaving office, he had around $800,000 in personal debt and faced high property taxes on their Delaware home valued at $2.7 million. His ability to earn through speeches, a common revenue source for former presidents, has been hampered by his unpopularity and concern of upsetting President Donald Trump.

Former President Biden, however, receives over $400,000 annually in government pensions from his time in Congress and the White House, according to the National Taxpayers Union Foundation.

Hunter Biden’s lack of assets follows years of excessive spending. Reports indicate he spent significantly on crack cocaine, alcohol, luxury hotel stays, and expensive gifts, including jewelry for his brother’s widow, with whom he was romantically involved. These habits may illustrate how he depleted his earnings from selling artwork and his substantial salary from the Ukrainian energy company Burisma.

“I don’t have any assets. I don’t own a car. I don’t own a phone,” Biden said in the deposition, which took place in February and was recently released by his new lawyers.

Biden contends that Winston Taylor knew about his inability to pay legal fees when accepting him as a client and suggests they planned to “work something out.” The firm attempted to connect Biden with Democratic donors to help with the legal expenses.

In July, Hunter Biden won a modest legal victory when a judge awarded him $1.7 million in a defamation case. Winston Taylor aims to place a lien on this judgment, yet collection remains uncertain as Patrick Byrne, the ruled-against Overstock CEO, is reportedly overseas.

Representatives for both Hunter Biden and former President Joe Biden declined to comment when contacted by Fox News Digital.