A basic life lesson is that you generally get to steal one time from individuals with some common sense. Like Delaware, New York just posted a no business investment sign wanted at their border.
Major investors pull business from New York City following Trump verdict
By
Peter CordiFebruary 21, 2024 1:21 pm
Prominent investors have signaled their intent to halt their business in
New York following the $355 million verdict in former President Donald
Trump’s civil
fraud case.
Real estate mogul Grant Cardone announced on Tuesday that his firm Cardone Capital would no longer underwrite New York real estate, one day after Shark Tank star Kevin O’Leary vowed to no longer invest in the state as a result of the verdict.
“Immediately discontinue ALL underwriting on New York City real estate,” Cardone
his firm in a post on X. “The risk outweigh the opportunities at this time. Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges. Focus on Texas & Florida.”
The Sell or Be Sold author
explained his decision on Wednesday in an interview with Fox & Friends.
“When that [Trump] ruling happened, it was like, ‘Pencils down,'” Cardone said. “‘Don’t touch it. Don’t go there.'”
Judge Arthur Engoron
ruled on Friday that Trump must pay over $355 million for conspiring to alter his net worth to receive tax and insurance benefits. Engoron’s verdict additionally bars Trump and his sons, Eric and Donald Jr., from doing business in New York for three years.
“We invest for 14,000 investors at Cardone Capital that depend on cash flow,” Cardone said. “And if I can’t predict the cash flow because of some ruling, or because of the migrants, or because I can’t evict people, New York City just keeps doing every single thing they can to sell real estate in Florida, not sell real estate in New York.”
O’Leary
called New York “a loser state” and told Fox Business on Monday that he “would never invest in New York now, and I’m not the only person saying that.”
“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,” O’Leary said. “I can’t even understand or fathom the decision at all. There’s no rationale for it.”