“Shark Tank” co-star Kevin O’Leary said Monday that he will “never” invest in the “Mega-loser state” of New York following a judge’s ruling in former President Donald Trump’s civil fraud trial.
Judge Arthur Engoron ruled that the former president must pay $350 million in damages in a lawsuit brought by New York Attorney General Letitia James, who alleged that Trump deceived banks and insurance companies by overvaluing his assets. The judge further ruled that Trump is barred from serving as an officer of any New York corporation or legal entity for three years.
“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 Fox Business’ Neil 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.”
“I would never invest in New York now,” he continued. “And I’m not the only person saying that.”
O’Leary said New York’s regulations are restricting job creation and forcing jobs to move to “winner states” like Oklahoma, North Dakota, West Virginia and Tennessee. (RELATED: ‘They’re All Corrupt People’: Trump Says Civil Fraud Case Is An Attempt To ‘Hurt Him’ In 2024)
“Do you think any foreign institution or any private equity firm or any pension fund would touch New York?” he continued. “No! And that’s why New Yorkers should be concerned. The fine people of New York should ask themselves why are we such a loser state? How are we gonna attract business? It’s not just the existing businesses that are fleeing out to Texas and Florida. What about new money like I’m talking about? Like a $4 billion data center? Not a chance I would put that in New York! Zero probability! Never!”
James argued in her closing statement in early January that Trump and his family should be required to pay $370 million. She initially sought $250 million. Engoron found in September that the former president deceived banks and insurance companies by overvaluing his net worth and assets, and ruled that his business certificate should be revoked.
Trump called James “a horribly corrupt attorney general” and accused her of interfering in the 2024 election.
“We’ll be appealing,” Trump said outside of Mar-a-Lago on Friday. “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.”