Mark Cuban defends Trump after Dem lawmaker accused him of being too broke to pay $464M judgment

Politics

Through Victor Nava

Printed
March 19, 2024, 7:24 p.m. ET

Mark Cuban defended Donald Trump Tuesday after a Democratic lawmaker accused the previous president of mendacity about his internet value.

Rep. Ted Lieu (D-Calif.) used the hashtag “TrumpIsBroke” in a publish on X after the previous president’s legal professionals instructed a New York courtroom that the 77-year-old didn’t safe the nine-figure bond sum in his civil fraud case regardless of drawing near greater than 30 corporations.

“Trump claims he’s a billionaire. However he can’t pay a $464 million judgment. That implies he’s mendacity. How do I do know? Math,” Lieu wrote.

Lieu accused Trump of mendacity about his internet value. Bryan Olin Dozier/NurPhoto/Shutterstock

Cuban, a billionaire entrepreneur and previous “Shark Tank” host, got here to Trump’s protection In a long reaction to the Democratic congressman, arguing that “Web value is totally other than money within the financial institution.”

“Ted, you realize I’m no supporter of Trump. That’s for rattling positive,” Cuban, 65, started his publish. “How someone can vote for any individual who has such a lot of of his govt staff activate him, and, say he’s incompetent is past me.”

“However you might be flawed in this subject Ted.”

Cuban famous that during a “0 rate of interest surroundings” it will’ve been “dumb” for Trump to stay his money in a financial institution or cash marketplace account.

“Additionally dumb was once protecting rates of interest that low for that lengthy. One thing Trump demanded extra of, “ the Dallas Mavericks minority proprietor claimed.

“So you’ll argue that [Trump] put himself on this scenario via ensuring that the one strategy to develop his internet value was once non money investments. You’ll additionally argue Trump sucked at rising his internet value which resulted in him hanging himself on this place via mendacity to banks about his belongings,” Cuban endured. “There is just one explanation why to lie on a mortgage software – you must.”

Cuban argued that it will be unfair to be expecting Trump to have 45% of his belongings liquid. Getty Pictures

The founding father of Price Plus Medicine stated “few individuals are protecting greater than 45 % in their belongings” liquid, and Trump’s non-liquid industrial actual property and overseas belongings could be not possible to make use of as collateral.

“No bond corporate is loaning towards them on this industrial actual property marketplace, if ever,” Cuban argued.

Trump refuses to unload his houses to place up the bond in his civil fraud judgment since that kind of fireplace sale would lead to large losses, his legal professionals stated in a courtroom submitting.

Trump’s legal professionals notified a Long island courtroom Tuesday that the previous president has been not able to safe a bond for the $454 civil fraud judgement towards him. Getty Pictures

Previous this month, Cuban printed that he voted for former South Carolina Gov. Nikki Haley within the Texas GOP presidential number one over Trump and he plans to forged his poll for President Biden in November.

“In the event that they had been having his ultimate wake, and it was once him as opposed to Trump, and he was once being given ultimate rites, I’d nonetheless vote for Joe Biden,” Cuban instructed Bloomberg Information.

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