Real estate investor Grant Cardone appeared on the fox Business Network this week following the Trump verdict and said that it is going to have far reaching effects on the city’s economy.
He suggested that nobody (including him) wants to do business in New York City anymore because they no longer trust the political and legal system there.
Cardone says that the people who are invested in his company wouldn’t even allow him to do business there.
From FOX Business:
“If they can do this to Donald Trump, a former president, regardless of how you feel about the politics, if they can do this to a former president, what can they do to Grant Cardone? What can they do to any other businessman?,” the Cardone Capital founder also chimed in Friday on “Varney & Co.”
Cardone recently pulled his business out of the Empire State and cautioned that Trump’s legal troubles — including a previous $355 million fine in a New York civil fraud case in February — would “wreak financial havoc” on the city.
“I have 15,000 investors with me at Cardone Capital. We’ve raised $1.3 billion. If I went to them today and said, ‘I want to invest in New York City,’ they would not give me money to do that,” the investor argued.
“That’s one of the greatest cities on planet Earth. And nobody wants to go there and do business,” Cardone continued. “I blame the legal system. Clearly, the political system has been weaponized.”
Watch the video below:
New York City is already struggling under the weight of crime, reduced revenue due to people leaving, and the border crisis.
Now they are also going to deal with fewer investments from people just like Cardone.
This situation is going to have an impact on NYC that will last a long time and in ways that cannot even be seen yet.