Shark Tank star and investor Kevin O’Leary said Monday on Fox Business Network’s “Cavuto Coast To Coast” that former President Donald Trump’s $350 million-plus fraud ruling was causing him to rethink investing in the “mega loser state” of New York.
O’Leary said, “I’m not different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all. There’s no rationale for it.”
He continued, “It does not matter what the governor says. New York was already a loser state, like California is a loser state there are many loser states beacuse of policy, high taxes, uncompetitive regulation it was already on the top of the list to be the loser state. I would never invest in New York now. I’m not the only person saying that.”
O’Leary added, “That is why New Yorkers should be concerned. The fine people of New York should ask themselves why are we a loser state? How are we going to attract business? It is not just the existing businesses moving to Texas and Florida, what about new money that I’m talking about like a 4 billion-dollar data center? Not a chance I would put that in New York.”
He concluded, “They have a lot of work to do to find themselves getting out of the situation and this has occurred post pandemic. It’s winner versus loser states, look at Tennessee the fastest growing city in Nashville, good policy, competitive taxes. You gotta start thinking about this in the context of winners and losers. New York is a mega loser state.”
Follow Pam Key on Twitter @pamkeyNEN
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