Amid the scandal of Joe Biden’s son receiving payments from business deals in Ukraine and China related to his family influence, ABC steps in to run defense with an exceptionally obtuse interview with Hunter Biden.
Either the interviewer doesn’t know anything about how Corporate Boards pay members and the structure of business ventures, partnerships, capital fee repayment, board fees etc; or the interviewer intentionally didn’t challenge some of these ridiculous obfuscations by Hunter Biden; perhaps both.
During the Chinese deal Hunter Biden was in a partnership. Hunter Biden paid $420,000 for a ten percent equity position (a “capital call”) in the new venture AFTER the Chinese invested $1.5 billion [a 10% equity purchase would be worth $150 million]. The partnership could then pay the board members “board fees” or “capital investment fees” as the investment matures. The big payout doesn’t come until after the investment matures and Biden -as a partner- then sells his equity position back. That payoff is coming.
So when Hunter Biden says he “hasn’t made a dime” off the China deal, that’s because the investment fund hasn’t matured yet. In essence, he’s fibbing; and counting on people not to know how this stuff works.