Former New York Mayor Rudy Giuliani has filed for bankruptcy in New York with debts of up to $500 million owed to creditors, including Hunter Biden. Giuliani, who led Donald Trump’s campaign challenging the 2020 election result, said he had less than $10 million in assets. The filing, made in the U.S. Bankruptcy Court for the Southern District of New York, listed President Joe Biden’s son as one of the creditors owed money.
Giuliani has faced numerous legal challenges and mounting legal issues in recent years. In August, he admitted to having “financial problems” and said he didn’t have enough money to defend himself. Last Friday, a jury ordered Giuliani to pay $148 million in damages to election workers Ruby Freeman and Shaye Moss for claiming they tried to rig the vote for Joe Biden.
According to court documents, Giuliani said he had between $100 million and $500 million in liabilities, while his assets totaled only $1 million to $10 million. The bankruptcy filing comes as a result of his inability to pay the mounting legal bills and debts he has accrued.
Giuliani’s fall from grace has been considerable. After serving as New York City’s mayor from 1994 to 2001, he was widely regarded as a national hero following the 9/11 terrorist attacks. However, in recent years his reputation has suffered due to his close association with Trump and his involvement in efforts to overturn the 2020 election result.
With his financial troubles now public, Giuliani’s future remains uncertain. He has been a prominent figure in the Republican Party for decades, but his legal troubles and association with Trump have damaged his credibility. Moreover, the bankruptcy filing has tarnished his reputation further, with some people now questioning his ability to manage his own finances, let alone serve in public office.
Giuliani has not yet commented publicly on the bankruptcy filing or his future plans. However, it seems clear that his once-prominent political career has come to a crashing end. How he moves forward from here remains to be seen, but it is likely that he will face continued political and legal challenges in the years to come.