Hunter Biden Likely Has 'Millions' Invested in China Firm, Expert Reveals
Former Vice President Joe Biden’s son has stood down from Chinese investment fund
After former Vice President Joe Biden's son, Hunter Biden, announced Sunday he was standing down from the board of a China-backed investment fund, an expert has revealed that he likely has "millions" still invested in the company.
Hunter Biden is stepping down from his position at BHR Equity Investment Fund Management, yet despite surrendering his role, he likely still holds millions of dollars of value in the company.
In a statement from Hunter Biden’s lawyer, he claims that his client’s stake in the company is only valued at $420,000.
Fact checker FactCheck.org debunked this analysis, however, estimating it’s value to be in the millions.
“It is difficult to imagine, if not incomprehensible, that a 10% stake in those economics is worth only $420K,” Steven Kaplan of the University of Chicago Booth School of Business told FactCheck.org.
“The distinction they appear to be making is they capitalized the management company with $4.2 M even if the fund manages $2 B.
"The value of that management company is likely far in excess of $4.2 M if they are managing $2 B.”
FactCheck.org cited Kaplan estimating that Hunter Biden’s share in the investment company could be valued at around $20 million and up to “hundreds of millions of dollars” over the investment lifetime.
Hunter Biden’s lawyer said that if Joe Biden won the race for president, he would agree “not to serve on boards of, or work on behalf of, foreign-owned companies.”
The statement did not mention his current foreign investments in BHR, however.
President Donald Trump continues to target Hunter Biden’s foreign investments as corrupt, questioning Vice President Joe Biden’s knowledge of his son capitalizing on his father’s specific diplomacy with China and Ukraine on behalf of former President Barack Obama’s administration.
Over the weekend, President Trump blasted his predecessor Barack Obama, saying he "knows all about" the alleged corruption involving Joe Biden and his son Hunter's dealings in Ukraine.
President Trump insists that former President Obama is "hiding" from questions regarding former Vice President Biden and Hunter's work for a gas company in Ukraine.
Trump made the revelations during an interview on Fox News's "Justice with Judge Jeanine" on Saturday night.
Speaking about Obama in relation to the allegations of the Bidens potential corruption in Ukraine, Trump said, "I think he knows all about it."