Real estate mogul Grant Cardone said he'll never do business in New York City again after former President Donald Trump was found guilty of all 34 charges in his hush money trial.
In a May 30 post on X, Cardone asked his followers why anyone would invest in New York City real estate, noting that investors can't evict, can't raise rents, can't predict taxes, can't get fair legal treatment and can't do business in New York.
Accompanying the post is an image of a Fox News video from February in which Cardone said he would "immediately discontinue" doing business in New York City. The Fox News interview came after New York Judge Arthur Engoron ruled that Trump and his organizations owe more than $345 million in damages plus 9% interest and barred the former president from running a business as an officer or director in the state for three years.
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During that interview, Cardone said the risks outweigh the opportunities and that New York demonstrated its politicization when it comes to doing business.
"We invest for 14,000 investors at Cardone Capital that depend on cash flow. And if I can't predict the cash flow because of some ruling, or because of the migrants, or because I can't evict people, New York City just keeps doing every single thing they can to sell real estate in Florida, not sell real estate in New York," Cardone said.
After Thursday's verdict, Cardone encouraged his followers to send a message by donating to the $355M Unjust Judgment gofundme account created by his wife, Elena. So far, more than 34,000 contributions amounting to over $2 million have been raised for the effort.
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"Any amount sends a message [that] we support Donald Trump," he wrote.
"Given the circumstances, my husband and I have also now decided to cancel all future events in NY and halt all our real estate ventures there," Elena Cardone wrote on the gofundme page. "I believe NY is not safe nor a place to conduct business at this time."
In the days leading up to the verdict, Cardone indicated he had planned to invest $500 million in New York City but redirected the money to Florida because New York is too risky. He said the state violated the First Amendment, weaponized the legal system, is unfriendly to property owners and that crime is out of control.
"New Yorkers get a handle on those in power or risk losing your great state forever," he posted.
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