Shark Tank star Kevin O'Leary blasts ‘fraud’ ruling against Trump, ‘I would never…’

Author:Vertika Kanaujia 2024-02-20 16:50 9

Shark Tank investor Kevin O’Leary has vehemently criticised what he termed a “loser” New York and declared his refusal to invest in the state following a New York court's verdict against Donald Trump. Former US President has been ordered to pay over $355 million for manipulating his net worth for tax and insurance benefits.

Shark Tank investor Kevin O’Leary has criticised ‘loser’ New York and declared his refusal to invest in the state after its court ruling against Donald Trump

Expressing shock at the decision, O’Leary, chairman of O’Leary Ventures, spoke out against New York, deeming it a “loser state” due to policies, high taxes, and uncompetitive regulations. He contended that the recent ruling added to New York's unfavorable business environment and claimed that businesses, both existing and new ventures, are now opting for states like Texas and Florida.

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"I’m shocked at this decision”, O’Leary

“This award, I mean, just leaving the whole Trump thing out of it and seeing what occurred here … And I’m no different than any other investor, I’m shocked at this,” O’Leary said in an interview Monday with Fox Business. “I can’t even understand or fathom the decision at all. There’s no rationale for it.”

O’Leary dismissed New York Gov. Kathy Hochul’s assurances to business owners, stating that every investor is concerned about the arbitrary nature of the judge’s decision and questioned the credibility of the legal system in New York. He emphasized that the issue was a broader problem for New York rather than just being about Trump.

“New York is already a loser state,” O’Leary

Chairman of O’Leary Ventures, argued New York was “already a loser state,” citing policy, high taxes and uncompetitive regulation as primary reasons.

“It was already on the top of the list of being a loser state. I would never invest in New York now,” O’Leary said. “And I’m not the only person saying that.”

O’Leary claimed existing businesses and new ventures are going to different states such as Texas and Florida.

In response to Hochul’s attempts to assure residents, O’Leary remained skeptical, asserting that her words fall on deaf ears and contending that there is nothing she can say to justify the court's decision.

Former President Trump applauded O’Leary’s comments on Truth Social, highlighting the potential impact of the court ruling on businesses in New York. “Kevin O’Leary is so great, and tells it like it is. Businesses will flee NYC & State after the Corrupt Judge’s ruling!”

Title:Shark Tank star Kevin O'Leary blasts ‘fraud’ ruling against Trump, ‘I would never…’

Url:https://www.investsfocus.com

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