The Ukrainian energy company that was paying President Biden’s son Hunter $1 million a year cut his monthly compensation in half two months after his father ceased to be vice president.
From May 2014, Burisma Holdings Ltd. was paying Hunter $83,333 a month to sit on its board, invoices on his abandoned laptop show.
But in an email on March 19, 2017, Burisma executive Vadym Pozharskyi asked Hunter to sign a new director’s agreement and informed him “the only thing that was amended is the compensation rate.”
“We are very much interested in working closely together, and the remuneration is still the highest in the company and higher than the standard director’s monthly fees. I am sure you will find it both fair and reasonable.”
After the email, the amount listed on Hunter’s monthly Burisma invoices was reduced to $41,500, effective from May 2017. The amount was paid in Euros, at the rate of between 35,000 Euros and 36,100 Euros per month, based on currency fluctuations at the time.