Staff Reports
A major real estate transaction was highlighted in a recent investigation by the U.K. Daily Mail, adding to the attention surrounding President Joe Biden's financial activities.
President Biden received $1.2 million in 1996 for the sale of his 10,000 square foot estate in Greenville, Delaware, more than six times the amount he had paid for it when he had bought it more than twenty years earlier.
A senior executive from MBNA, a credit card corporation with its headquarters located in Delaware and a major donor to Biden's Senate campaign, purchased the home. Notably, the President's son Hunter Biden was hired by MBNA in the same year as the mansion sale, not long after he graduated from law school. It's important to note that Hunter eventually became a senior vice president within the organization. The house is currently assessed to be worth just approximately $1.65 million, despite the claims made at the time by both Biden and MBNA that the transaction price was reasonable.
Suspicious: The Home Biden Sold for $1.2 Million Only Worth $1.65 Million Three Decades Later https://t.co/VOSOarZqCF
— Ben Owen (@hrkbenowen) October 31, 2023
The property should be worth more than $3 million now if the original sale price was true, which raises doubts about the agreement given the history of Delaware home values over the past 25 years. To further heighten the mystery, a 2020 Delaware Online piece disclosed that Biden bought a $350,000 empty property from well-known local real estate developer Keith Stoltz using the considerable sum from the sale of the residence. Remarkably, just five years prior, Stoltz had purchased the identical property for the same sum of money and had made no profit whatsoever.
The Stoltz family has contributed significantly to Biden's campaign over the years as a longtime backer. According to property records, in the same month that the land sale was finalized, Stoltz personally gave Biden a campaign donation. Although the participants to these transactions dispute receiving any special treatment, doubts regarding the circumstances surrounding these transactions have been aroused by the Biden family's financial activities.
