Hunter Biden testified under oath that his family has no money and that he possesses no assets, including a car or savings accounts, as he faces a $17 million legal bill. The claims were made in a deposition transcript released recently, related to a lawsuit filed by the law firm Winston Taylor, which has represented Biden in various legal matters.
In the deposition, Hunter Biden stated, "My family doesn’t have any money, and it's not their debt anyway." He added that his only asset of value is his own paintings. The law firm is seeking payment for its services in representing him in criminal prosecutions, congressional investigations, and defamation lawsuits.
Winston Taylor, a firm with a history of representing prominent Democrats, claims Biden owes them $17 million. According to the transcript, Biden argued that the firm knew he would be unable to pay when they agreed to represent him and that they had an agreement to "work something out." The law firm contends that they attempted to connect Biden with donors within the Democratic Party to help cover his legal expenses.
Earlier in July, Hunter Biden secured a legal victory when a judge awarded him $1.7 million in a defamation suit. However, Winston Taylor has sought to place a lien on this judgment. The individual against whom the defamation suit was ruled, Overstock CEO Patrick Byrne, is reportedly overseas, complicating collection efforts.
Reports have previously suggested financial pressures on the Biden family. The Wall Street Journal reported in September 2025 that former President Joe Biden was experiencing difficulty generating income from speaking engagements, a common practice for former presidents, potentially due to his perceived unpopularity and concerns about antagonizing then-President Donald Trump. The report also noted that Joe Biden had accrued approximately $800,000 in personal debt and faced increased property taxes on his Delaware home.
Despite these claims of financial strain, Joe Biden continues to receive more than $400,000 annually 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 comes after a period of publicized struggles with substance abuse, during which he reportedly spent significant sums on drugs, alcohol, luxury accommodations, and other personal expenses. He has previously stated that he should not have taken a position on the board of the Ukrainian energy company Burisma. Representatives for Hunter Biden and former President Joe Biden did not immediately respond to requests for comment.