“Shark Tank” stars Kevin O’Leary and Mark Cuban both had something to say about the nearly half-billion dollar bond New York is trying to force former President Donald Trump to post.
Trump’s lawyers argued on Monday that the ex-president was not liquid enough to put up the outrageous $454 million bond required to appeal his civil fraud ruling.
New York Attorney General Letitia James, the Democrat who prosecuted him, said she would seize his assets if he doesn’t pony up.
O’Leary spoke about the “horrible” that was set by the judgement to CNN anchor Laura Coates the same day.
NEW: Shark Tank's Kevin O'Leary slams AG Letitia James and Judge Arthur Engoron seizing Donald Trump's assets 'like in Venezuela or Cuba' during heated CNN shouting match.
"This may be great for the attorney general, but this is not good for America."
"Forget about Trump. You… pic.twitter.com/yzb6YhPKfc
— KanekoaTheGreat (@KanekoaTheGreat) March 19, 2024
“What a great message to send out all around the world. Take a claim where there was no money is lost,” he told the host.
“There was no fraud here in the context of actually people losing money. Deutsche Bank, who made the loan, was made whole.”
O’Leary said that it was a “scary, scary message” to send to both New York and the country.
“There are no half a billion-dollar bonds. Never been done before. Never. This law has never been applied,” he continued.
He noted that his opinion has “nothing to do with Trump” and everything to do with both the Big Apple and the nation.
O’Leary said it was a “horrible message to everybody around the world watching this. Absolutely horrific.”
The next day, costar Mark Cuban schooled Democratic California Rep. Ted Lieu when he accused Trump of “lying” about not being able to afford almost half-billion dollar judgement.
“Trump claims he is a billionaire. But he can’t pay a $464 million judgement. That means he is lying.” Lieu posted on Tuesday. “How do I know? Math. #TrumpIsBroke.”
That’s when Cuban chimed in with a lesson in billionaire math, but first made it clear that he was far from a fan of the former president.
Ted, you know I'm no supporter of Trump. That's for damn sure.
How anyone can vote for someone who has so many of his executive employees turn on him, and, say he is incompetent is beyond me.
But you are wrong on this topic Ted.
Net worth is completely different than… https://t.co/WG6cY1t5qq
— Mark Cuban (@mcuban) March 19, 2024
“Ted, you know I’m no supporter of Trump. That’s for damn sure,” Cuban commented on the post.
“How anyone can vote for someone who has so many of his executive employees turn on him, and, say he is incompetent is beyond me.”
“But you are wrong on this topic Ted. Net worth is completely different than cash in the bank,” he noted. “We were in a zero interest rate environment for a long, long time.”
Cuban noted that keeping money in the bank or low investment risk money markets was a “dumb” move, and is why plenty of small banks were “killed” last year.
He also explained that “few people” keep 45% of their assets liquid.
He then took another shot at the billionaire ex-president for allegedly falsifying his company assets to secure loans.
“You can also argue Trump sucked at growing his net worth which led to him putting himself in this position by lying to banks about his assets,” Cuban contended.
“There is only one reason to lie on a loan application – you have to.”
The shark had a final explanation for why Trump couldn’t get help paying the judgement.
“As far as the bond companies Trump’s assets are mostly interests in commercial real estate and foreign assets,” Cuban concluded.
“No bond company is loaning against them in this commercial real estate market, if ever.”
O’Leary thinks that Letitia James’ threat to seize Trump’s assets if he doesn’t pay up in 30 days is “an attack on America.”
He told Fox News’ “Outnumbered” that the judgement has shaken the the country’s “number one economy” to “the core,” by pushing aside “due process” and “property rights.”
“This is case setting against the American brand. The most stable country on Earth anywhere to put capital for a long period of time, particularly in real estate, is the United States of America,” he said on Tuesday.
The ABC star pointed out that “the concept” of seizing Trump’s assets on a 30-day bond “has never been issued” before.
“This is an assault on what we believe to be core and I find it extraordinary,” he continued.
“I think it’s very troubling, it has absolutely nothing to do with Donald Trump at this point in my view and it is completely bipartisan.
“This is an attack on America, and I don’t how you can look at it any other way,” O’Leary concluded.