If Donald Trump can’t do business in New York, then Kevin O’Leary won’t either.
In an interview Monday, the “Shark Tank” investor blasted last week’s $355 million verdict against the former president as a threat to all businesses that turns New York into a “loser state.”
“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,” Mr. O’Leary told Fox News Channel. “I can’t even understand or fathom the decision at all. There’s no rationale for it.”
The fine resulted from a lawsuit by New York’s Democratic Attorney General accusing the former president, the Trump Organization and its top officials of fraud. Judge Arthur Engoron also blocked Mr. Trump from doing business in New York for three years.
Mr. O’Leary said existing businesses and new ventures will now head for different states.
“It was already on the top of the list of being a loser state. I would never invest in New York now,” the chairman of O’Leary Ventures said.
“And I’m not the only person saying that,” he added.
Fox anchorman Neil Cavuto asked Mr. O’Leary about assurances from New York Gov. Kathy Hochul that Mr. Trump is a uniquely dishonest person and others have “nothing to worry about.”
He was not reassured.
“I’m sorry, her words fall on deaf ears to everybody,” he said.
Mr. O’Leary said the legal standards in New York are the issue and that “this has nothing to do with Trump.”
“Every investor is worried because where is the victim? Who lost the money? This is some arbitrary decision a judge made,” he said. “What does this say about the bar? About the legal bar in New York? Aren’t they going to question this judge? What is this?”