The once bustling stream of dollars that flowed into the Biden family’s coffers seems to have dwindled to a disappointing dribble. The former First Child, Hunter Biden, whose pockets were traditionally lined with considerable sums tossed in by the influence peddling operation under Biden’s command, seems to be facing harsh economic realities. He confided to the judge overseeing his current legal battles about his dwindling financial state, attributing his lack of money to his declining art business, lukewarm response to his literary ventures, and mounting debts.
In a court document, he revealed, ‘[Hunter] has experienced a striking decline in his income and is wrestling with massive debt which runs into the millions.’ He was aware his ‘financial status’ was on shaky ground and decided to take some measures. He clarifies, ‘Within the past 2 to 3 years leading up to December 2023, I managed to sell 27 art pieces for an average price of $54,481.48, however, post this period the sales have gone cold, only once managing to sell an artwork for $36,000.’
On the issue of his book, he explains, ‘In the six months preceding the statements (April 1, 2023 through September 30, 2023), roughly 3,161 copies of my book found buyers. However, in the six-month period after the statements, merely around 1,100 books were sold.’ And, unfortunately for him, big paycheck-demanding speeches are far and few between now. Lack of speech invitations is an unruly new norm in his life.
Hunter Biden’s crumbling economic outlook, it appears, isn’t an isolated incident. His father, Joe Biden, is in the same boat, battling financial difficulties. Certain sources have downright labeled Joe Biden’s ‘post-presidency’ financial state as ‘lackluster’ and ‘not on par with what he had anticipated.’
After spending a significant period of his life in corridors of power, including two vice-presidential terms, and one presidential term, his present predicament is described as ‘a frugal future bereft of well-financed foundations, elaborate library projects, and lucrative speech schedule.’ The privileges enjoyed by his predecessors are glaringly absent in his present life narrative.
Rather than flying in the comfort of private jets, Biden now travels on commercial airplanes like the common man. Though well known fact that speeches can rake in $300,000 or more, such opportunities are scarce for Biden, and even when they surface, organizations try to negotiate below the standard rates. His debt situation is nerve-wracking, with $800,000 in loans tied to his real estate asset – the Rehoboth Beach house.
Even as he drowns under his son, Hunter Biden’s legal bills, he wants to extend a helping hand to his daughter Ashley, who divorced recently. At the same time, he is trying to safeguard his grandchildren’s financial future, a task for which he is ill-equipped given his own financial mess, as indicated by sources close to the Bidens.
He has secured a $10 million book deal, which would provide a mild economic relief; taxpayers also fund pensions netting an annual sum of slightly above $400,000. There is a possibility of weathering this financial storm if he adopts a ‘down-to-earth’ lifestyle per a source, with the reference of ‘modest-for-the-powerful’ standard.
In what sources describe as a recent event, Joe Biden was a speaker at an event organized by a lobbying group. They had offered him $275,000 for his presence, but after negotiations agreed to pay $300,000, which was the lower range of the usual rates.
The financial value assigned to Joe Biden’s ‘memoirs’ is reportedly around $10 million, which pales in comparison to the sum that the Obamas managed to haul. Social media too has noted and commented on the depths of financial struggle that the ex American President is going through. Biden is knee-deep in debts and is struggling to keep up with monetary demands.
One of the significant changes to his income sources is the drying up of funds from the pay-for-play scheme. Investigators have discoursed about this, but with Biden out of power in the U.S, this particular income stream has gone kaput. His efforts to generate funds for his presidential library have been anything but successful.
This entire ordeal has left contributors irritated, with one attorney even demanding an $800,000 refund. This was tied to a donation he made to the campaign of then Vice President Kamala Harris, Biden’s Democratic successor, as cited by certain reports. He commiserates, ‘The prospects of the library being constructed seem dismal, unless we consider transforming a bookmobile from yesteryears into a library.’
The post Rough Waters for Biden: Harsh Financial Reality Check appeared first on Real News Now.
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