In a recently released deposition transcript, Hunter Biden stated that his family is financially struggling and that he is facing significant legal fees. This deposition is part of an ongoing lawsuit involving Biden and the law firm Winston Taylor, which claims he owes $17 million for legal representation in various matters, including criminal prosecutions and congressional investigations. Biden stated, "My family doesn't have any money, and it's not their debt anyway," and mentioned that he does not possess any valuable assets aside from his paintings.
Reports indicate that the Biden family may be experiencing financial difficulties. The Wall Street Journal noted in September 2025 that former President Joe Biden has encountered challenges in monetizing his post-presidency, having accrued approximately $800,000 in personal debt and facing increased property taxes on his Delaware home. Additionally, he has struggled to secure paid speaking engagements due to his perceived unpopularity.
Despite these challenges, former President Biden receives over $400,000 annually in government pensions from his time in Congress and the White House. Hunter Biden's claims of lacking assets come after a history of significant spending, which included expenses related to substance use and luxury items. He argued that Winston Taylor was aware of his financial situation when they agreed to represent him and claims they discussed potential arrangements for his legal fees.
In July, Biden won a legal victory in a defamation suit, receiving $1.7 million, but Winston Taylor has sought to place a lien on this judgment. Representatives for both Hunter Biden and former President Joe Biden did not respond to requests for comment.