Billionaire entrepreneur and former “Shark Tank” host Mark Cuban came forward on Tuesday to support Donald Trump amidst claims made by Democratic lawmaker Rep. Ted Lieu (D-Calif.) regarding the former president’s wealth.
Lieu used social media to accuse Trump of misrepresenting his financial situation, utilizing the hashtag “TrumpIsBroke” following revelations from Trump’s legal team in a New York court. They disclosed that Trump was unable to obtain a nine-figure bond amount in his civil fraud case, despite approaching over 30 firms.
“Trump claims he is a billionaire. But he can’t pay a $464 million judgement. That means he is lying. How do I know? Math,” Lieu wrote on X.
Trump claims he is a billionaire. But he can’t pay a $464 million judgement. That means he is lying. How do I know? Math.#TrumpIsBroke https://t.co/OSS0nR8d6r
— Ted Lieu (@tedlieu) March 18, 2024
Cuban, renowned for his keen business insight and as a vocal opponent of the former president, defended Trump by providing a thorough response to Lieu, highlighting the disparity between net worth and liquid assets.
Sending a direct message to Lieu, the 65-year-old Cuban began his rebuttal by affirming his stance against Trump’s policies: “Ted, you’re aware I’m not a supporter of Trump. That’s definitely true.” He then proceeded to tackle the specific matter at hand.
Cuban contended that given the current “zero interest rate environment,” it wouldn’t have been prudent for Trump to retain his cash reserves in a bank or money market account. He further scrutinized the prolonged period of low interest rates, which he alleged Trump supported, asserting that this approach incentivized investments in non-cash assets.
Cuban speculated that Trump’s hesitation to liquidate his assets to fulfill the bond obligation was influenced by the unfavorable market conditions. Selling properties hastily would likely incur substantial losses, as indicated by Trump’s legal team.
Lieu responded to the lengthy post on X, stating, “Thank you @mcuban, I agree with you.”
“If Trump has the assets he claimed (including any revenues flowing from those assets), the underwriters would have backed the bond. But no one did,” the Democratic lawmaker continued. “Trump doesn’t have enough liquidity or assets to be a worthwhile risk for the underwriters.”
Thank you @mcuban, I agree with you. If Trump has the assets he claimed (including any revenues flowing from those assets), the underwriters would have backed the bond. But no one did.
— Ted Lieu (@tedlieu) March 19, 2024
Trump doesn’t have enough liquidity or assets to be a worthwhile risk for the underwriters. https://t.co/Kuh535B5xP
In previous statements, Cuban revealed that he cast his vote for former South Carolina Governor Nikki Haley in the Texas GOP presidential primary instead of Trump. Additionally, he has expressed his plans to vote for President Biden in the forthcoming November election.
Mark Cuban, who is a raging leftist, just made Ted Lieu & every other leftist lunatic look dumb for saying Trump is broke.
— The Constitutional Conservative (@TheCCShowcast) March 20, 2024
