There are many stories of the corrupt and secretive dealings of the Biden family. They include a controversial China business, prostitution, and their net worth. Let’s find out more about the Biden family’s background. You may be surprised to learn how rich and well-connected they are. If you’re curious about the Bidens’ net worth, read on to find out more. But before you do, here’s a little history about them.
James Biden’s net worth
The former vice president is one of the highest-profile senators in America, but his ties to big business have left many wondering about his net worth. In addition to serving as the finance chairman for Joe Biden’s first Senate campaign, James was also a partner in a construction company with a contract worth more than $1 billion in Iraq. His business partner was Hunter Obama, the younger of Joe’s two sons. Hunter is a graduate of Yale Law School and Georgetown University and has struggled with substance abuse.
In 2012, Fox Business estimated James Biden’s net worth at $7 million. In 2013, he and his wife Sara bought a vacation house on Keewaydin Island for $2.5 million. The house served as a family getaway but didn’t pay off as an investment. The couple later listed the Keewaydin island property for $5.9 million, but sold it for a much lower price. Currently, James Biden’s net worth is reportedly at $7 million.
The family relocated to Delaware in 1972. When Joe was a young boy, James Biden’s brother was a financial entrepreneur. He opened a nightclub in a shopping center near the state line. The club failed and left a trail of debt. James obtained a series of loans from Farmers Bank, including one that was unsecured, which meant that the bank couldn’t seize the money if James didn’t make his payments. Because of this experience, his brother was disgraced and put the bank on a Federal Reserve Board watchlist for potentially unsound lending practices.
James Biden’s prostitution involvement
Hunter Biden, the son of Vice President Joe and First Lady Jill Biden, may have paid $25,000 to a Russian prostitute through his father’s bank account. While the videos were not filmed publicly, the video shows Hunter Biden reportedly smoking crack and filming porn with a Russian prostitute, Yanna. Later, he was seen holding an M&M candy balanced on his penis.
The emails also suggest that Joe Biden met with the head of a Chinese prostitution ring and paid them with his credit cards. Biden’s spokesperson, however, denied the claims. In the emails, the Vice President’s son was paid for a variety of things, including airline tickets, hotel rooms, and other expensive items. Hunter Biden’s financial transactions with the Chinese-based Burisma firm show that many of the payments were intended for Biden family members. One of the emails shows attempts to send nearly $8,000 to Gulnora. This amount was then followed by a receipt for $25,000 within a matter of hours.
However, the accusations have no direct evidence to support them. Rather, the Senate committees have documents indicating that Biden paid prostitutes and was involved in human trafficking. Though the records of payments and transactions do not prove that Biden paid prostitutes directly, they suggest that the Vice President and his wife were involved in prostitution. These documents are not public yet. This is an extremely troubling development.
James Biden’s involvement with China business
In August 2018, Sen. Bobulinski asked Biden about his involvement with a business venture in China, and he did not provide any specific answers. Biden’s autobiography, however, does not mention any business dealings with the country. The emails Biden sent and received with Hudson West III associates do not reveal any details about the deal. However, they indicate that Biden and Hudson West III discussed a potential Monkey Island gas deal in 2017. The business deal may not have been made, and there are no publicly available documents revealing its existence.
However, this latest report shows that Biden was involved in a lucrative foreign venture. The CEFC, which is connected to the Chinese Communist Party, paid Hunter Biden and other entities tied to the senator a combined $4.8 million. Biden signed several agreements with the businessman, and had a $1 million legal retainer. The documents also show that the Biden family profited from the public service of their brother.
Although the White House denied that Biden and Hunter discussed such business dealings, their associates said James wanted to use the family name to generate more money. James did not directly respond to the lawsuits, but he did suggest that they were meritless. In addition, the emails show that Biden and Hunter were close friends. This makes it difficult to understand why such a close relationship could have resulted.