Hunter Biden, in a recently released deposition transcript, stated that his family is financially strained and burdened by legal fees. The deposition is part of an ongoing litigation involving Biden and the law firm Winston Taylor. The firm, known for representing prominent Democrats, asserts that Biden owes $17 million for legal representation in various matters, including criminal cases, congressional inquiries, and defamation suits.
“My family lacks financial resources, and the debt isn’t theirs anyway,” stated Biden, as noted in the transcript. “I possess nothing valuable besides my paintings, whose value I’m unsure of. I own no other assets, such as stocks, bonds, or savings accounts.”
Reports echo claims of financial difficulties for the Biden family. In September 2025, The Wall Street Journal noted that former President Joe Biden struggled financially post-presidency compared to his predecessors. Biden reportedly accumulated around $800,000 in debt and faced increased property taxes on a $2.7 million Delaware property, as per sources familiar with his finances. Additionally, challenges in securing paid speaking engagements have emerged due to his low popularity and concerns over offending former President Donald Trump.
Despite this, Joe Biden receives over $400,000 annually in government pensions, stemming from his time in Congress and the White House, according to the National Taxpayers Union Foundation.
Hunter Biden’s lack of assets is reportedly linked to previous lifestyle choices, including substance abuse and extravagant spending on drugs, luxury accommodations, and jewelry during personal relationships. These spending habits contributed to the depletion of his financial resources accrued from selling paintings and earning a substantial salary at Burisma, a Ukrainian energy company.
According to the deposition conducted in February, but recently publicly released, Biden stated, “I possess no assets. I own neither a car nor a phone.” He argues that Winston Taylor was aware of his inability to settle legal fees and alleges an agreement was made to “work something out.” Conversely, the firm claims efforts were made to connect Biden with donors within the Democratic circle to assist with his expenses.
In July, Biden witnessed a minor legal success when awarded $1.7 million in a defamation lawsuit. Winston Taylor aims to place a lien on this judgment. The complex situation is further compounded by issues in collecting from Overstock CEO Patrick Byrne, who is reportedly overseas.
Representatives for Hunter Biden and Joe Biden declined to comment when contacted by Fox News Digital.
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