‘Shark Tank’ star and famed investor Kevin O’Leary declared that he is ceasing all future investment activities in New York, labeling it a “loser state” due to its political climate and legal persecution against former President Trump.
O’Leary is now turning his attention to states like Oklahoma, North Dakota, West Virginia, Florida, and Texas for his future business ventures.
O’Leary’s commentary followed the verdict by Judge Arthur Engoron in New York Attorney General Letitia James’ fraud case against President Trump. O’Leary, who has been vocal about his investment philosophy, sees this as a turning point for his and potentially others’ investment strategies.
During a Fox Business interview, O’Leary expressed his frustration with New York’s policies, which are hostile to businesses and investors.
“I can’t go to New York, so I’m going to Oklahoma, North Dakota, West Virginia. Governor Stitt, Kevin Stitt. My staff have met with him. Governor Burgum, the same thing. Those are winner states. They don’t do things like this,” O’Leary said, underscoring his decision to redirect billions of dollars in investments towards states that are more business-friendly.
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O’Leary announced this first on The Gateway Pundit during an exclusive interview with Jordan Conradson.
Speaking to The Gateway Pundit’s Jordan Conradson, O’Leary expressed his frustration and urged businesses to avoid states like New York, Massachusetts, and New Jersey, all of which he categorizes as “loser states” due to their policies, high taxes, and mismanageme
O’Leary’s focus is on states he considers “winners,” like North Dakota, Oklahoma, West Virginia, Florida, and Texas, attributing their attractiveness to superior management and business-friendly policies.
“I don’t do business in New York because it’s a loser state. It has bad policy, high taxes, it’s mismanaged, and it does this kind of thing. This is a loser state, Massachusetts is a loser state, New Jersey is a loser state. I do business in places like North Dakota, Oklahoma, West Virginia, Florida, Texas. These are winner states,” O’Leary said.
“I, as an investor, do not want to reward weak management and insane policy by investing in it. So, I’m just saying, I’m just one investor; we should throw our weight behind good management and winner states and let people understand why they’re living in loser states because they’ve hired bad managers. And when it comes time for an election, hire good managers, so you’re not a loser state anymore. Because New York, with this decision, now became my top loser state. It used to be California, but they just won the top ticket. New York first, California second. They’re both massive loser states,” he added.
This announcement will spell big trouble for New York, which has been struggling to retain its business community during the pandemic, where it closes all businesses and an exodus to states with more favorable tax and regulatory environments.
“I made an individual decision as an investor, and I’m very, very vocal about it. I want to support winner states, winner governors, winner senators that understand the importance of all eleven sectors of the S&P and building an environment, a platform where we can go and risk capital in their state and create jobs and have stable policy. New York is not one of those. It was the worst; it was number two, and now it’s number one.”
“I think as investors, I’m just one investor, but I just want to support those states that have good policy. I don’t care if they’re red or blue. It has nothing to do with it.”
Read more below:
https://www.thegatewaypundit.com/2024/02/shark-tanks-kevin-oleary-says-hes-done-investing/
https://www.thegatewaypundit.com/2024/02/private-equity-fund-manager-announces-he-will-not/
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