Kevin O’Leary uses basic logic to explain how ruling against Trump will backfire on New York: ‘Never invest in New York now’

News & Politics

Businessman Kevin O’Leary vowed on Monday never to invest in the state of New York again.

O’Leary, the star “Shark Tank” investor, slammed Judge Arthur Engoron’s ruling against Trump in the civil fraud trial. Last Friday, Engoron ordered Trump to pay a penalty of $355 million plus interest — a total of approximately $450 million. The fraud case was brought by New York Attorney General Letitia James, a Democrat who campaigned on targeting Trump.

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

According to O’Leary, the ruling demonstrates what he and many other businessmen believed was already true: New York is a “loser state” because of liberal policies, high taxes, and uncompetitive regulation.

“I would never invest in New York now,” he promised.

“The fine people of New York should ask themselves, ‘Why are we such a loser state? How are we going attract business?’ It’s not just the existing businesses that are fleeing out to Texas and Florida. What about new money like what I’m talking about? Like a $4 billion data center?” O’Leary continued. “Not a chance I would put that in New York! Zero probability! Never!”

O’Leary cited Tennessee, Oklahoma, West Virginia, and North Dakota as “winner states” because of their business-friendly policies. But New York, he argued, has just proved it is a “mega-loser state.”

‘LOSER STATE’: O’Leary says he will never invest in NY after Trump fraud

Finally, O’Leary responded to Democrat Gov. Kathy Hochul’s attempt to reassure businesses and real estate developers — those not named Trump, of course — telling them that there is “nothing to worry about.”

Ultimately, O’Leary explained that New York has shot itself in the foot — and state officials have no one to blame but themselves.

“We’re very worried. Every investor is worried because where is the victim? Who lost the money? This is some arbitrary decision a judge made,” O’Leary said. “What does this say about the legal bar in New York? Aren’t they going to question this judge? What is this? $355 million as a penalty plus interest at 9% and there’s no victim?

“I’m sorry. Her words fall on deaf ears to everybody. There’s nothing she can say to justify this decision,” he continued. “Forget about Trump. This is not a Trump situation — this is a New York problem.”

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