In a riveting exchange on CNN, Kevin O’Leary, widely recognized from “Shark Tank,” passionately defended the real estate industry in the wake of Donald Trump’s controversial verdict in New York.
The discussion ignited with CNN’s Laura Coates posing a question on the implications of fraud and its impact on business confidence. O’Leary swiftly retorted, “Excuse me, what fraud? This is not about Trump anymore.”
O’Leary continued, “When you get a developer that builds a building and he says it’s worth $400 million and he wants to borrow $200 million from a bank, which happens every day, everywhere on earth, including every American city.”
He then passionately pointed out the real-world consequences of penalizing developers based on disputed valuations, referencing the judge’s decision to penalize “this developer” – a veiled reference to Trump – for $355 million.
“Let’s penalize all the developers across America. They’ve all done the same thing.”
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Amidst the back-and-forth, O’Leary expressed his concerns over the implications of the verdict for New York’s investment climate. He argued that the ruling sends a negative message to investors worldwide, potentially driving investment away from New York to other states that are more business-friendly and less litigious.
On Monday, O’Leary announced