Kevin O’Leary and Grant Cardone Opt Out Of New York After Donald Trump’s $355 Million Fraud Verdict

Former FTX spokesperson and “Shark Tank” investor Kevin O’Leary has a lot of feelings about former president Donald Trump’s big loss in New York. At a recent appearance on Fox Business, O’Leary had a lot to say about the verdict and one of them was that he would no longer invest in “loser” New York.

“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. “I can’t even understand or fathom the decision at all. There’s no rationale for it.”

O’Leary is talking about the $355 million that Judge Arthur Engoron ordered Trump to pay on Friday, capping off  the case that was initiated by New York Attorney General Letitia James, accusing Trump of inflating his net worth for years to secure better loans and deals.

James sought penalties for the ill-gotten gains from the fraudulent documents and to restrict Trump from owning business in the state. Engoron ruled that Trump should pay $355 million plus interest but only banned him from running any New York business for three years.   

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

Financial influencer and real estate investor Grant Cardone is also saying that, it seems. After the ruling, Cardone said that his company will “immediately discontinue ALL underwriting on New York City real estate.”

Cardone’s wife even started a GoFundMe campaign to help Trump pay for the at least $355 million penalty for the New York fraud case.

Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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