What is Hunter Biden's net worth? A look at wealth of formerly highly paid consultant who went into immense debt
Being the son of Joe Biden has several perks, no one knows this better than the President's younger son Hunter Biden. The 51-year-old's personal life has raised quite a few brows thanks to his drug addiction and his involvement with overseas business ventures through the course of his career.
Hunter's memoir 'Beautiful Things' which released earlier this month openly discusses his battles with addiction and his path to sobriety. Although the book heavily focuses on his addiction, Hunter also touched upon his time as a board member of the Ukrainian gas company Burisma Holdings. His involvement with Burisma Holdings came under the scanner after Senate Republicans released an 87-page report on his work with Burisna in September 2020.
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The report claims that Hunter sent "thousands of dollars" to Russian and Ukrainian women residing in the US who have "subsequently wired funds they have received from Hunter to individuals located in Russia and Ukraine”.The report also ties some of the transaction to an "‘Eastern European prostitution or human trafficking ring," reported The Sun. Needless to say Hunter's professional life and his personal finances became a huge subject of interest. Read on to know more about his net worth.
What is Hunter Biden's net worth?
Hunter Biden graduated from Georgetown University and went on to earn a law degree from Yale University. He served in the United States Navy Reserve. In 1996, Hunter was employed with a Delaware-based bank called MBNA, where he was reportedly earning an annual salary of $100,000, as reported by CelebrityNetWorth. In 2001 he left MBNA and launched his own lobbying practice called Oldaker Biden & Belair. According to National Review, Joe Biden who was a presidential candidate at that time paid his son's firm an estimated $143,000 for 'legal fees' throughout his campaign. Aside from his father, Hunter's firm was also earning quite some money from MBNA as it reportedly paid the firm "millions of dollars," as reported by the outlet.
In 2006, Hunter teamed up with his uncle James Biden and purchased a hedge fund called Paradigm Global Advisors. Unfortunately, the venture didn't yield much success to the duo, despite Hunter drawing an annual salary of $1.2 million. The firm was liquidated in 2010.
In 2008, Hunter set up Seneca Global Advisors, consulting firm that helps companies expand into global markets. His earnings from the firm aren't publicly available. He also served on the board of Burisma Holdings from 2014 to 2019. During his time as a board member of Burisma, Hunter Biden was reportedly paid an estimated amount of $50,000 per month. It has been estimated that Hunter earned $850,000 – $3 million during his time as a Burisma Board Member.
Despite earning a high salary throughout his career, Hunter's net worth might come as a surprise to many. CelebrityNetWorth estimated his net worth at $1 million as of 2020. His extravagant spending habits took a huge hit on his finances. He was also trapped into debt to the tune of $475,000, which included $320,000 in unpaid federal taxes. As per leaked emails and texts from his laptop, Hunter spent huge sums of money on drugs, women, and cars. He paid off his back taxes in 2020. Ina 2019 interview with New Yorker, he revealed that he was living off $4,000 per month after agreeing to pay his ex-wife $37,000 per month for 10 years while they were divorcing.