In the week prior to the presidential election, I wrote a piece that asked the question, “Where Is Hunter Biden’s Money?” It was an important question then, even more so now. Given the legacy media’s recent validation of Hunter’s laptop that discussed a slice of equity planned for the “Big Guy” in a deal that involved an entity controlled by the Chinese Communist Party (CCP), we should know if any money from it (or other foreign sources) ended up in Joe Biden’s pocket, but we don’t.
Recall that despite then-presidential candidate Biden having bragged that he had released his tax returns with what his team called “a historic level of transparency,” the truth is that he only released his individual returns. Those returns provided no detail regarding the source of most of his income, dollars that flowed to him and his wife Jill by way of S-corporations they set up shortly after his departure from the office of vice president. Those entities, CelticCapri Corp (his) and Giacoppa Corp (hers), contained more than $13 million of the $17 million the couple had reported in income after Biden left office, most of it in the first year (2017).
The same media that ignored Hunter’s laptop has shown a complete incuriosity about these entities, accepting the premise that Joe and Jill raked in $13 million from their book deal to generate their huge increase in income. We simply don’t know if that’s true, though. What we do know is that their book sales were dismal.
Perhaps sensing smoke starting to build just before the election, USA Today published a “fact check” piece that attempted to support that the Bidens earned “$15.6 million … from speaking fees and book deals” in the years 2017 through 2019 and that “more than $10 million of that total income was profits from Biden’s memoir ‘Promise Me, Dad’ and $3 million in profits from Jill Biden’s book.”
Follow the source link provided to that $10 million number, though, and you’ll end up at Joe Biden’s campaign website with financial disclosure links to only their individual returns — no S-corporation tax returns. So, in reality, readers were left with a smokescreen. (Now the financial disclosure links for 2016, 2017, and 2018 have even been changed to connect to a Democratic National Committee fundraising site via ActBlue rather than the tax documents.)
I noted back in 2020 that, “While (Joe Biden’s) financial disclosures reasonably support the $2.7 million of net income reported by CelticCapri in 2018, a notable $8.7 million gap exists between its $9.5 million net income in 2017 and the $809,709 of disclosed income in that year from book tour and related speaking events. Since his disclosure covers only part of 2017, we lack the insight into other income that may explain it.”