Mark Cuban defended former President Donald Trump on Tuesday after the Democratic congressman accused him of lying about his net worth.
Rep. Ted Lieu (D-Calif.) said in a post to He used the hashtag “Trump is bankrupt.” Despite approaching over 30 companies, a fraud incident occurred.
“Trump claims he’s a billionaire. But he can’t pay the $464 million judgment. So he’s lying. How do we know? Math,” Liu wrote.
Billionaire entrepreneur and former “Shark Tank” host Cuban defends Trump in lengthy response to Democratic congressman, insisting “net worth is completely different than cash in the bank.” did.
“Ted, you know I’m not a Trump supporter. That’s for sure.” Cuban, 65, started his post. “I don’t understand how anyone could vote for someone who is viewed as an enemy by so many executives and who are called incompetent.”
“But on this one, Ted is wrong.”
Cuban said it would have been “foolish” for Trump to keep his cash in banks or money market accounts in a “zero interest rate environment.”
“It was foolish to keep interest rates so low for so long. What more did President Trump want?” argued the minority owner of the Dallas Mavericks.
“So you can argue that [Trump] He put himself in this situation by making sure that the only way to increase his net worth was through non-cash investments. You could also argue that Mr. Trump was so bad at increasing his net worth that he lied to banks about his assets and got himself into this position,” Cuban continued. “The only reason to lie on a loan application is because you have to.”
Cost Plus Drug’s founder said that “very few people keep more than 45% of their assets in liquid condition” and that Trump’s illiquid commercial real estate and overseas assets could be used as collateral. said it was impossible.
“In this commercial real estate market, there are no bond companies lending to them,” Cuban argued.
Trump’s lawyers said in a court filing that Trump is refusing to sell real estate to raise bail money for a civil fraud judgment. This is because such a fire sale would result in huge losses.
Cuban announced earlier this month that he voted for former South Carolina Gov. Nikki Haley over Trump in the Texas Republican presidential primary, and plans to vote for President Biden in November.
“If they had his final wake and it was him versus Trump and the last rites were performed, I would still vote for Joe Biden,” Cuban told Bloomberg News.
