Trump fraud ruling reveals New York's 'assault' on real estate, 'Mr Wonderful' says: Move your business out
West Virginia, Florida and North Dakota are 'winner states' for business; California, New York and New Jersey are 'losers' O'Leary says
By Charles Creitz Fox News
Published February 19, 2024 8:55pm EST | Updated February 19, 2024 8:56pm EST
O'Leary Ventures chief and "Shark Tank's" "Mr. Wonderful" Kevin O'Leary warned real estate investors against developing in New York following a state judge's ruling that former President Trump must pay $355 million in punitive damages in his civil fraud case.
O'Leary told "Fox & Friends Weekend" to take the "Trump factor" out of the equation and look at the case as if it were any real estate developer with a marked presence in New York State.
"Forget about the Trump factor," he said. "It's not about that. What does this say to everybody that wants to do work in New York and wants to risk capital? … this judge arbitrarily decide[d] that this is the right amount. I don't understand it. No developer does."
He added, "It's an atrocity. It's an embarrassment, but it's an assault on real estate."
O'Leary echoed his comments Monday on "Cavuto: Coast to Coast" on FOX Business.
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