One of the co-stars of the business show “Shark Tank,” Kevin O’Leary, recently said that he would never “invest” in New York City after a state judge ruled former President Donald Trump must pay $350 million in damages in a lawsuit brought forth by radical leftist New York Attorney General Letitia James.
Trump must pay the whopping figure set forth by New York state Judge Arthur Engoron, who found the former president guilty in his civil fraud trial, following allegations made by James that Trump manipulated banks and insurance companies into inflating his assets.
While speaking with Fox News Business host Neil Cavuto, O’Leary said he couldn’t understand Engoron’s ruling, arguing that it was irrational. The “Shark Tank” co-star called New York a “mega-loser state.”
“I’m no different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all. There’s no rationale for it,” O’Leary told Cavuto. “And so, let me give you a real-time experience I’m having regarding this — and I’m not the only one … New York was already a mega-loser state, like California’s a loser state.”
“There are many loser states because of policy, high taxes, uncompetitive regulation. It was already on the top of the list of being a loser state,” he added. “I would never invest in New York now. And I’m not the only person saying that.”
O’Leary continued by saying that New York’s laws hinder job creation, consequently moving jobs to “winner states,” such as North Dakota, Oklahoma, Tennessee and West Virginia.
Cavuto asked O’Leary if he believed that foreign investors or private equity firms would conduct business in New York, to which he responded, “No!”
🇺🇸SHARK TANK'S O'LEARY: "NYC IS A LOSER STATE FOR BUSINESS"
Kevin O'Leary: "New Yorkers should be concerned. The fine people of New York should ask themselves, why are we such a loser state?"
Source: Fox Business https://t.co/NwbzqbNP8c pic.twitter.com/HRBBW33k34
— Mario Nawfal (@MarioNawfal) February 19, 2024
In her closing statement from early January 2024, James argued that the former president should be required to pay $370 million in damages despite initially seeking $250 million.
Engoron later dealt a blow to Trump in September 2023, saying the former president deceived banks and other financial institutions into inflating his net worth and assets. The judge ruled that Trump’s business certificate should be revoked.
Shortly after Engoron’s ruling in the former president’s civil fraud trial, Trump issued a scathing rebuke of James, accusing her of interfering in the 2024 presidential election.
“We’ll be appealing,” Trump said outside his Mar-a-Lago residence on Feb. 16, 2024. “But, more important than that, this is Russia, this is China, this is the same game, all comes out of the DOJ. It all comes out of Biden.”
“It’s witch-hunt against his political opponent, the likes of which our country has never seen before, you see it in third world countries, banana republics, but you don’t see it here,” he added.
