Thread by @JewhadiTM

I’ve been waiting for this.
cc: @adamhousley

The Biden ‘Family Legacy’

What we learned from the text messages of Hunter’s partner Tony Bobulinski.

@WSJ
wsj.com/articles/the-b…

As the deal takes shape in 2017, Mr. Bobulinski begins to question what Hunter will contribute besides his name, and worries that he was “kicked out of US Navy for cocaine use.” Mr. Gilliar acknowledges “skill sets [sic] missing” and observes that Hunter “has a few demons.”

He explains that “in brand [Hunter is] imperative but right know [sic] he’s not essential for adding input.” Mr. Bobulinski writes that he appreciates “the name/leverage being used” but thinks the economic “upside” should go to the team doing the actual work.

Mr. Gilliar reminds him that those on the Chinese side “are intelligence so they understand the value added.”
This dispute almost derails the deal. Hunter is hardly visible through most of the work, until final contract negotiations ramp up in mid-May.

He brings in his uncle Jim Biden for a stake. (Mr. Gilliar in a text message soothes Mr. Bobulinski with a promise that Jim’s addition “strengthens our USP”—unique selling proposition—“to the Chinese as it looks like a truly family business.”)

Hunter in texts and emails wants offices in three U.S. cities, “significant” travel budgets, a stipend for Jim Biden, a job for an assistant, and more-frequent distributions of any gains.

As for annual pay, he explains in an email that he expects “a hell of a lot more than 850” thousand dollars a year (the amount Mr. Bobulinski, the CEO, is getting), since his ex-wife will take nearly all of it.

Mr. Bobulinksi pushes back, warning Mr. Gilliar in a text that they need to “manage” Hunter because “he thinks things are going to be his personal piggybank.” The duo worry about his “mental state,” substance abuse, and his ability to make meetings.

Hunter, in his own angry texts, makes clear that his contribution is his name. He rails at Mr. Bobulinski that the CEFC heads are “coming to be MY partner to be partners with the Bidens.”

He reminds him “that in this instance only one player holds the trump card and that’s me. May not be fair but it’s the reality because I’m the only one putting an entire family legacy on the line.”

Mr. Gilliar privately tells Mr. Bobulinski to show flexibility, since “I know why [CEFC Chairman Ye Jianming] wants the deal and what makes it enormous, It’s the family name.”

CEFC was closely entwined with the Chinese government and military until it went bankrupt, following U.S. charges of money laundering.

There is no question CEFC was buying Hunter for influence.

Joe Biden claims he has never discussed his son’s business. Yet a May 2017 “expectations” document shows Hunter receiving 20% of the equity in the venture and holding another 10% for “the big guy”—who Mr. Bobulinski attests is Joe Biden.

In one text, Hunter says that “my Chairman gave an emphatic NO” to a version of the deal. Mr. Walker, Hunter’s partner, explains in a text to Mr. Bobulinski that when Hunter “said his chairman he was talking about his dad.”