(RepublicanDaily.org) – Real estate developer and investor Kevin O’Leary – also known by his nickname “Mr. Wonderful” – has declared New York his top “loser state” to invest in following a state court’s decision on former president Donald Trump’s civil fraud case.
According to O’Leary, his opinion is not so much related to Trump as it is to what he called the completely “arbitrary” nature of the ruling against the former president. Part of the decision metes out a more than $350 million penalty against Trump, and bars him and his sons Donald Trump Jr. and Eric Trump from holding any leadership position in any of the family businesses in New York for three years. The decision also handed down a three-year ban on taking out a loan from any New York-based financial institution.
As a result of this, O’Leary said that he would “never invest in New York now.” He added that many other developers and investors share the sentiment.
“This is some arbitrary decision,” the investor said of the ruling against Trump. “I don’t understand it. No developer does,” he added.
O’Leary, who also appears as one of the investors in the reality investment show “Shark Tank,” said that he was “shocked” that the court found fault with what Trump did, saying that declaring higher values of real estate holdings is a normal part of negotiations when securing a deal from a bank or a financial institution.
Other “loser states” for investment in O’Leary’s book include California, New Jersey, and Massachusetts, given their high tax rates. He recommends investing in developments in Florida, West Virginia, Oklahoma, Texas, and Florida.
O’Leary also said that New York Governor Kathy Hochul’s attempt at placating worried business owners in the state, saying that investors and entrepreneurs have “nothing to worry about,” is only lip service.
“Her [Hochul] words fall on deaf ears to everybody,” Mr. Wonderful said.
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