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.”
Payne said $1 trillion in business has already left New York largely for Florida and Texas, and that with Manhattan skyscrapers around 50% capacity, it appears unlikely they will return to full use.
Payne added New York’s crime crisis and ever-increasing regulations are keeping businesses out of the states.
Charles Creitz is a reporter for Fox News Digital.
He joined Fox News in 2013 as a writer and production assistant.
Charles covers media, politics and culture for Fox News Digital.
Charles is a Pennsylvania native and graduated from Temple University with a B.A. in Broadcast Journalism. Story tips can be sent to charles.creitz@fox.com.
