"Shark Tank" investor Kevin O'Leary says he is "shocked" by the ruling, which found that Trump inflated the value of his assets to obtain better rates from lenders and insurers.
"I can't even understand or fathom the decision at all," O'Leary said about the ruling, which also bars Trump's sons from managing their businesses in New York for the next three years. "There's no rationale for it."
Often called "Mr. Wonderful," O'Leary, who is from Canada, called New York a "mega loser state" for business following the verdict against Trump.
"New York was already a loser state, like California's a loser state," O'Leary fumed.
"There are many loser states because of policy, high taxes, uncompetitive regulation. It was already on the top of the list of being a loser state. I would never invest in New York now."
O'Leary says he will instead look to conduct business in states like Oklahoma, North Dakota and West Virginia, all of which he called "winner states" because "they don't do things like this."
On his Truth Social platform, Trump thanked O'Leary for his comments, calling him "so great" because he "tells it like it is."
"Businesses will flee NYC & State after the Corrupt Judge's ruling!" Trump further declared.
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(Related: New York Gov. Kathy Hochul recently admitted that Trump was specifically singled out for prosecution in the left-versus-right political wars – other New York businessmen committing similar crimes need not worry, she says.)
Private equity fund multi-millionaire creates GoFundMe to raise money for Trump's fine
Another outraged business owner is private equity fund manager and Cardone Capital real estate investment firm owner Grant Cardone, who claims he was planning on investing in New York before Justice Engoron's ruling against Trump.
"CardoneCapital [sic] just started to research real estate investments in New York believing it was time to get into the market," Cardone tweeted on X. "After the over reach [sic] by the judge in the Trump case & penalties imposed of $355M I told the team do NOT waste time in New York."
Instead, Cardone is planning to expand his mega-businesses in other states like Arizona, Florida, Tennessee and Texas.
Cardone's wife, Elena, created a GoFundMe campaign begging the American public to contribute cash to pay off Trump's $355 million fine. In its first four days on the platform, the GoFundMe raised more than $660,000 for Trump.
"I stand unwaveringly with President Donald Trump in the face of what I see as unprecedented and unfair treatment by certain judicial elements in New York," Elena wrote on the GoFundMe.
"The recent legal battles he faces are not just an attack on him but an attack on the very ideals of fairness and due process that every American deserves."
Elena added that the purpose of the fundraiser is not just to send Trump cash but also to protect all businesses against "a system that increasingly seeks to penalize dissent and curb our freedoms."
The $355 million that Trump will have to pay is on top of the $83 million that he was also recently ordered to pay to writer E. Jean Carroll in a defamation case involving allegations that he sexually assaulted her.
Trump says he will appeal all the cases, complaining on Truth Social that he "SHOULD NOT HAVE TO GO THROUGH ANY FAKE PROSECUTIONS BEFORE THE ELECTION," writing in all caps.
"THIS IS COMMUNISM, AND A THREAT TO DEMOCRACY."
The latest news about Trump's re-run for president in 2024 can be found at Trump.news.
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