Immediately Discontinue All Underwriting on New York City Real Estate

Grant Cardone is less than pleased with the ruling against former President Donald Trump, in which Trump has been ordered to pay $355 million in penalties plus interest. If Trump were to pay the full amount of the penalty today, it would cost him over $400 million.

Grant Cardone posted the following on X, formerly Twitter, on February 20:

Dear Cardone Capital team,

Immediately discontinue ALL underwriting on New York City real estate. The risk outweigh the opportunities at this time.

Recent political decisions will continue to deteriorate price and benefit states that don’t have these challenges.

Focus on Texas… pic.twitter.com/nTdJ5d4dO5

— Grant Cardone (@GrantCardone) February 20, 2024

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Cardone’s comments echo what Kevin O’Leary said in a recent interview, calling the decision to fine Trump “unjust,” “appalling,” and “Un-American.”

“That fact that he was found guilty, you might as well find guilty every real estate developer on Earth,” O’Leary said.

New York Governor Kathy Hochul has tried to calm the fear that has come from the ruling, insisting that “law-abiding, rule-following New Yorkers who are businesspeople have nothing to worry about because they’re very different from Donald Trump and his behavior,” according to the New York Post.

O’Leary believes that the ruling against Trump will likely be overturned on appeal, but the consequences of the decision may hurt New York going forward.