Grant Cardone has been very vocal about the ruling against former President Donald Trump, in which has was ordered to pay $355 million in penalties plus interest. Cardone told his team to “immediately discontinue all underwriting on New York City real estate” in the days following the judge’s decision, since the risks outweigh the opportunity presented by the market following the ruling.
In a new post on X, formerly Twitter, Cardone said the following:
“$454M judgement (Sanction) against Donald J Trump will wreak financial havoc on New York City Economy that will take decades to erase.
The biggest losers in the judgment will be New York City tax collectors, property owners, private equity & pensions fund invested in New York City.
Since the Judgment, my company, CardoneCapital, committed $500 million in new investments in Florida. Just prior to the judgement we were targeting opportunist cities like New York City but have sense stopped all underwriting there & cities like it.
Biggest Winners of the judgement are
Donald J Trump who is winning over undecided voters and ALL red states with laws that protect property owners.
This sanction against Trump is an abusive over reach similar to the vaccine mandates. And like the mandates this will backfire, benefitting red states & those willing to move their businesses & investments.
Florida, Texas, Tennessee, Arizona, & Alabama will be massive beneficiaries.”
@GrantCardone on X
Don’t Miss:
Florida, Texas, Tennessee, Arizona, and Alabama
In a post following his announcement that his team would discontinue underwriting in New York City, Cardone said that his team would double down in Florida, Texas, and Arizona.
That list has now grown to include Tennessee and Alabama.
These five states are all traditionally “red states,” meaning they tend to carry an advantage to Republicans.
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This article Grant Cardone Says These 5 States ‘Will Be Massive Beneficiaries’ to New York’s Ruling Against Former President Donald Trump originally appeared on Benzinga.com
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Source: finance.yahoo.com