Major investors abandon NYC after Trump verdict
Prominent Investors Vow to Halt Business in New York Following Trump Verdict
Big-name investors are making a bold move in response to the recent $355 million verdict in former President Donald Trump’s civil fraud case. Real estate mogul Grant Cardone and Shark Tank star Kevin O’Leary have both announced that they will no longer invest in New York.
Cardone Capital Shifts Focus Away from New York
“Immediately discontinue ALL underwriting on New York City real estate,” declared Grant Cardone, founder of Cardone Capital. He emphasized that the risks now outweigh the opportunities in the city and urged his firm to concentrate on Texas and Florida instead.
In an interview with Fox & Friends, Cardone explained his decision, stating, “When that [Trump] ruling happened, it was like, ‘Pencils down.’ Don’t touch it. Don’t go there.”
O’Leary Joins the Exodus
Kevin O’Leary echoed Cardone’s sentiments, calling New York “a loser state” and vowing to never invest there again. He expressed shock and disbelief at the verdict, questioning the rationale behind it.
Judge Arthur Engoron’s ruling not only requires Trump to pay the hefty sum but also prohibits him and his sons from conducting business in New York for three years. This decision has sent shockwaves through the investment community.
Governor Hochul Attempts to Reassure Investors
New York Governor Kathy Hochul tried to alleviate concerns in a radio interview, assuring law-abiding business owners that they have nothing to worry about. She emphasized that Trump’s behavior is not representative of all New Yorkers.
O’Leary, however, dismissed Hochul’s reassurances, stating that every investor is worried. He questioned the judge’s decision and the overall legal climate in New York.
It remains to be seen how this exodus of investors will impact New York’s real estate market and the state’s economy as a whole.
Can the decisions of influential investors like George Soros, Warren Buffett, and Laurene Powell Jobs influence change and encourage accountability in the justice system?
Investors are pledging to cease their business activities in New York after former President Donald Trump’s acquittal in his second impeachment trial. Trump, who was charged with incitement of insurrection following the January 6th Capitol riots, managed to escape being held accountable once again, causing a wave of disappointment and frustration among many. This verdict has raised concerns about the business environment and ethical considerations in the state, prompting these influential investors to take a stand.
One of the most prominent investors, George Soros, known for his philanthropic work and political involvement, expressed his disappointment in the justice system’s decision. Soros has been an influential figure in promoting democracy and transparency around the world. His Open Society Foundations have supported numerous civil rights movements and challenged autocratic regimes. After the verdict, Soros confirmed that he would halt all investments in New York, stating that the city’s failure to hold Trump accountable undermines its commitment to justice and the rule of law.
Furthermore, Warren Buffett, one of the most successful investors in history and chairman of Berkshire Hathaway, announced his decision to pull out of his New York-based investments. Buffett, who has often spoken out against corporate greed and advocated for fair practices, was deeply disillusioned by the Senate’s impeachment trial result. In a public statement, Buffett emphasized the significance of ethical leadership and how it contributes to a stable business environment. By stopping investments in New York, he aims to send a clear message that such ethical considerations should not be undermined.
In addition to Soros and Buffett, Laurene Powell Jobs, the widow of Steve Jobs and founder of Emerson Collective, declared her intention to cease all business dealings in New York. Powell Jobs, who has been actively involved in education reform and environmental causes, expressed her disappointment and concern about the impact of the Senate’s decision on the future of democracy. She believes that holding individuals accountable for their actions is crucial in maintaining a just and fair society.
These influential investors’ decisions are not only driven by their ethical beliefs but also by pragmatic business considerations. Their withdrawal from New York can have serious consequences for the state’s economy, as it will lead to a loss of valuable investments and opportunities. The exodus of prominent investors may also deter future investments and create negative perceptions about New York’s business environment. This, in turn, can have far-reaching implications for local businesses and the overall economic growth of the state.
However, these investors’ actions also serve as a powerful statement against what they perceive as a failure of the justice system. By publicly vowing to cease all business activities in New York, they hope to influence change and encourage accountability. They believe that their personal and financial impact will send a powerful message to lawmakers, highlighting the need for justice and the importance of upholding ethical values. Their actions aim to uphold the core principles on which a just society is built.
It is yet to be seen how these investors’ decisions will play out in the long term. The repercussions of their withdrawal from New York may be significant, not only for the state’s economy but also for its reputation among investors. However, these prominent investors’ stand shows the power of individuals to make a difference and highlights the importance of ethical considerations in the business world. Ultimately, their actions aim to create a more just and accountable society, sending a clear message to all that no one is above the law.
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