The son of former President Joe Biden just dropped a bombshell during a sworn deposition, claiming he is completely broke and owns virtually nothing. Yes, you read that correctly. The guy who once raked in millions through overseas business deals and sold paintings for tens of thousands of dollars now says he cannot even afford a cellular phone or an automobile, as Conservative Brief reported.
This jaw-dropping testimony came during a Feb. 9 deposition connected to a legal battle with the law firm Winston Taylor. That firm slapped Biden with a lawsuit back in June 2025, claiming he stiffed them on roughly $17 million worth of legal fees. Those charges piled up while the firm defended him in federal criminal cases, congressional probes, and defamation suits he launched against multiple individuals.
Hunter went on record saying he possesses zero assets. No stocks. No bonds. No savings accounts. Nothing of value whatsoever, except for paintings he created himself, though he admitted he has no clue what they are worth. This is the same man whose art was fetching eyebrow-raising prices while his dad occupied the Oval Office.
But here is the real kicker. Hunter did not just plead poverty for himself. He threw his entire family under the bus financially, testifying that his relatives have no money either and that the debt is not their problem anyway. "My family doesn't have any money," the disbarred Connecticut attorney stated plainly.
Talk about a fall from grace. This Yale-educated lawyer once pulled in massive paychecks during his father's tenure as vice president. Court documents and his own published memoir reveal that years of drug and alcohol addiction, combined with extravagant spending habits, essentially torched his fortune.
Meanwhile, questions are swirling about the broader Biden family finances. Former President Joe Biden reportedly secured a $10 million advance for a memoir expected to drop in November. Former First Lady Jill Biden also got a significant advance for her own book, which hit No. 1 on The New York Times bestseller list after its June release. However, those advances typically get paid out over multiple years and shrink considerably after taxes, agent fees, and other deductions.
The financial picture gets even grimmer. Joe Biden, who has been diagnosed with Stage IV cancer, is reportedly struggling to land lucrative speaking gigs and having difficulty raising money for his presidential library. Political analysts believe the golden earning opportunities that once surrounded the family have dried up significantly.
Hunter recently started working at a high-end addiction treatment facility in Los Angeles. His current legal team released the deposition transcripts alongside testimony from his former attorney, Abbe Lowell, in response to discovery requests from Winston Taylor. The firm wants access to emails and encrypted messages to build its case for recovering those unpaid fees.
Hunter is not disputing that millions are owed. His argument? He claims the firm knew full well when they took him on as a client in late 2022 that he lacked the resources to cover the full tab. He also says Lowell repeatedly told him not to stress about paying his legal bills. Famous last words.
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