Despite multiple reports claiming he has a net worth in the millions, Hunter Biden, the son of former President Joe Biden, now claims he is in significant debt and can no longer pay his bills — and may be on the verge of declaring bankruptcy.
Hunter Biden, who is knee deep in on-going legal battles, has asked a Los Angeles area judge to drop a lawsuit filed against him, citing “financial hardships” that prevent him from paying his legal bills.
Hunter Biden's financial woes revealed in new motion to drop lawsuit: 'Significant debt' https://t.co/qvI7XlP99q
— Fox News (@FoxNews) March 6, 2025
According to a Fox News report, Hunter Biden’s legal team recently filed a motion to drop his lawsuit against the ex-White House aide who published the contents of his infamous laptop, citing financial issues.
The motion, filed in Los Angeles yesterday, pertains to the former first son’s lawsuit against Garrett Ziegler.
According to the report, the court documents illustrate the financial and personal issues Biden has experienced in the new year, including being a victim of the wildfires in the Pacific Palisades in Los Angeles.
Biden first filed the lawsuit in September 2023 but “does not have the resources to continue to litigate this matter,” according to the filing.
“Plaintiff has suffered a significant downturn in his income and has significant debt in the millions of dollars range,” the document states.
The house Biden rented in Los Angeles is now “unlivable” according to the filing, which says Biden has “had difficulty” finding both a new home and a new job.
“Moreover, this lack of resources has been exacerbated after the fires in the Pacific Palisades in early January upended Plaintiff’s life by rendering his rental house unlivable for an extended period of time and, like many others in that situation, Plaintiff has had difficulty in finding a new permanent place to live as well as finding it difficult to earn a living,” the document states.
“So, Plaintiff must focus his time and resources dealing with his relocation, the damage he has incurred due to the fires, and paying for his family’s living expenses as opposed to this litigation.”
Biden also penned a letter explaining that his income “has decreased significantly” and revealed what he earned for his artwork, which was included in court filings.
“In the 2 to 3 years prior to December 2023, I sold 27 pieces of art at an average price of $54,481.48, but since then I have only sold 1 piece of art for $36,000,” Biden wrote.
“Similarly, for my book sales, in the six month period before the statements (April 1, 2023 through September 30, 2023), based on the September 30, 2023 statement, 3,161 copies of my book were sold, but in the six months after the statements, only approximately 1,100 books were sold.”
Selling 27 pieces of art for an average price of $54,481.48 means he could have earned nearly $1.5 million on the artwork.
Hunter Biden also wrote that he expected to land paid speaking engagements and appearances after the success of his book, “but that has not happened,” Biden wrote.
“This significant decrease in revenue has also impacted my ability to pay off my significant debt, which as has been reported in the press as being several million dollars. As a result of this, I am not in a position where I can borrow money.”
There is no official documentation available that can confirm Hunter Biden’s exact net worth.
Unverified claims about Hunter Biden’s net worth have been shared across social media.
In May of 2023, Rep. Marjorie Taylor Greene, R-Ga., shared a graphic that said Hunter Biden is estimated to have a net worth of $230 million and that the president’s son makes more than $20 million each year.
However, that exact figure can not be confirmed.