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In a recently released deposition transcript, Hunter Biden claimed that his family is broke and that he’s being crushed by legal fees.
The deposition is related to an ongoing lawsuit between Biden and firm Winston Taylor for unpaid legal bills. Winston Taylor, which has a history of representing leading Democrats, claims that the Biden scion owes them $17 million from representing him in criminal prosecutions, congressional investigations and defamation suits against his critics.
“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 — and I don’t know the value of it — 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.”
In a recently released deposition transcript, Hunter Biden claimed that his family is broke and that he’s being crushed by legal fees. (Yuri Gripas/Abaca/Bloomberg via Getty Images)
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Claims that the Biden family may be strapped for cash are reflected in other reporting.
The Wall Street Journal reported in September 2025 that former President Joe Biden is having far more trouble cashing in on his time in the White House than his predecessors.
Upon leaving office, the former president had accrued roughly $800,000 in personal debt and was burdened with increased property taxes on their $2.7 million Delaware home, according to a source familiar with his finances. Biden also has had trouble booking paid speaking engagements, a common source of funds for former presidents, owing to his unpopularity and fears of angering President Donald Trump.
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Claims that the Biden family may be strapped for cash are reflected in other reporting. (Andrew Harnik/The Associated Press )
Former President Joe Biden, however, pulls in more than $400,000 a year in government pensions from his time in Congress and the White House, according to the National Taxpayers Union Foundation.
Hunter Biden’s claimed lack of assets follows years of partying and substance abuse.
The former president’s son reportedly spent large sums of cash on crack cocaine, alcohol, stays at luxury hotels, prostitutes and expensive jewelry for his brother’s widow, whom he was romantically involved with. His spending habits could help explain how he blew through the wealth he accumulated selling paintings and pulling in a seven-figure salary while employed by the Ukrainian energy company Burisma.
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Hunter Biden’s claimed lack of assets follows years of partying and substance abuse. (Kevin Dietsch/Getty Images)
“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 but was released by Biden’s new lawyers in recent days.
Biden argues that Winston Taylor knew he would be unable to pay his legal fees when it agreed to take him on as a client and claims the parties agreed to “work something out.” The law firm, meanwhile, says that it tried to connect Biden with donors in the Democratic ecosystem to help him cover his legal bills.
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The younger Biden won a comparatively small legal victory in July when a judge awarded him $1.7 million in a defamation suit. Winston Taylor, however, has sought to put a lien on the judgment, and the Overstock CEO Patrick Byrne, who was ruled against, is believed to be overseas, making collection complicated.
Representatives for Hunter Biden and former President Joe Biden did not respond to requests for comment when reached by Fox News Digital Friday.