Mark Cuban Defends Trump’s Finances Amid Fraud Case Allegations
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Following former President Donald Trump’s legal troubles, including a court order to pay over $450 million as bond, the public and political figures weighed in on his financial standing. One notable voice defending Trump’s financial situation was billionaire and Dallas Mavericks owner Mark Cuban, who stepped forward in response to California Rep. Ted Lieu’s assertion that Trump might be financially strained.
The controversy began when Lieu tweeted, “Trump claims he is a billionaire. But he can’t pay a $464 million judgment. That means he is lying. How do I know? Math. #TrumpIsBroke,” referencing Trump’s inability to secure a nine-figure bond in his civil fraud case. The case, which had been making headlines for months, questioned the accuracy of Trump’s reported net worth and financial dealings.
Cuban, however, took a different stance, making a distinction between net worth and liquid assets, especially considering the economic environment at the time. He explained that low interest rates have played a significant role in how businesses operate financially.
“Ted, you know I’m no supporter of Trump. That’s for damn sure,” Cuban wrote, according to Marca. “How anyone can vote for someone who has so many of his executive employees turn on him and say he is incompetent is beyond me. But you are wrong on this topic, Ted.” Cuban also criticized the extended period of low interest rates, adding, “Also dumb was keeping interest rates that low for that long. Something Trump demanded more of.”
Cuban then elaborated on how Trump’s financial situation might not be as straightforward as it seems. He noted that Trump’s net worth largely consisted of non-cash investments, particularly in commercial real estate, which may have made it challenging for him to liquidate assets quickly. “You can argue that [Trump] put himself in this situation by making sure that the only way to grow his net worth was non-cash investments,” Cuban explained.
“You can also argue Trump sucked at growing his net worth, which led to him putting himself in this position by lying to banks about his assets. There is only one reason to lie on a loan application – you have to.”
In closing, Cuban pointed out that Trump’s assets, which include stakes in commercial real estate and foreign holdings, wouldn’t likely be accepted by bond companies as collateral, especially in the current market. “No bond company is loaning against them in this commercial real estate market, if ever,” Cuban concluded.
Despite defending Trump’s financial complexities, Cuban has previously supported other political figures, including Trump’s rivals Nikki Haley and President Joe Biden. Meanwhile, Trump continued to use his platform, Truth Social, to address his supporters. In a recent post, he outlined his priorities should he win the 2024 election, including pledges to “Close the Border,” “DRILL, BABY, DRILL,” and “Free the January 6 Hostages being wrongfully imprisoned!”
In response, Sarafina Chitika, a spokesperson for Biden’s campaign, criticized Trump’s rhetoric. As reported by The Guardian, she stated that Trump “has demonstrated his willingness to take any measures necessary to retain power — even by condoning and promoting political violence.” Trump’s ongoing legal challenges and public statements continue to spark debate, with figures like Cuban stepping in to provide perspective on the financial realities behind the headlines.
