Billionaire business entrepreneur Mark Cuban came to the defense of former President Donald Trump – sort of – and schooled Rep. Ted Lieu for accusing him of “lying” about his assets.
Lieu took to social media to mock Trump after his lawyers revealed in a court filing on Monday that it is a “practical impossibility under the circumstances presented” to secure a $464 million appeal bond that is needed in the judgment against Trump in the civil fraud case in New York.
“Trump claims he is a billionaire. But he can’t pay a $464 million [judgment],” the California Democrat posted on X. “That means he is lying. How do I know? Math.”
He used the hashtag “TrumpIsBroke” in reposting the story about Trump’s situation and calling into question the net worth of the 2024 presumptive Republican nominee.
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
As Lieu began to get pushback online, he repeatedly asserted in one comment that “If bond companies thought Trump had enough assets, they would have provided him the bond. x.com/projectlincoln…”
Several X users tried to correct the Democrat’s logic, to no avail. Cuban stepped in to drop a reality check on Lieu in a lengthy post.
“Ted, you know I’m no supporter of Trump. That’s for damn sure,” the former “Shark Tank” host began, adding that “you are wrong on this topic Ted.”
“Net worth is completely different than cash in the bank,” Cuban explained, adding that “keeping cash in the bank or even money markets was dumb” in an economy that has long had a zero-interest rate environment.
“Also dumb was keeping interest rates that low for that long. Something Trump demanded more of,” he wrote. “So 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.”
Ted, you know I’m no supporter of Trump. That’s for damn sure.
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.
Net worth is completely different than… https://t.co/WG6cY1t5qq
— Mark Cuban (@mcuban) March 19, 2024
“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,” Cuban noted.
“On a more macro basis Ted. Even if rates were along a long term trend line for the past ten years, few people are keeping more than 45 percent of their assets in liquid assets,” added Cuban, who has said he will be voting for President Joe Biden in November.
“And as far as the bond companies Trump’s assets are mostly interests in commercial real estate and foreign assets. No bond company is loaning against them in this commercial real estate market, if ever .,” he concluded.
Social media users filled up Lieu’s comments with criticism of his take on Trump’s attempt to secure bond after approaching more than 30 firms.
Liquidity does not = net worth.. in fact I would say he would probably be considered a poor businessman if he kept that much cash in hand- it’s much better invested in real estate or the stock market… the fact that a grown adult such as yourself doesn’t get this is concerning…
— AmericaFirst (@americafirst024) March 18, 2024
Can’t sell his real estate by court order.
Prohibited from getting a bank loan by court order.Sounds like Grand Theft State Edition to me.
— Karl Wright (@DaddyWri) March 18, 2024
Tell us you don’t understand what it means to be liquid without actually telling us.
— Chris Carapezza (@Chris_Carapezza) March 18, 2024
You don’t have to have Billions of dollars in your savings account to be a billionaire. Your net worth has to be over a billion dollars.
What is being done to Trump in New York is wrong but you’ll never admit that because you’re a tyrant.
Which is why we are going to vote you…
— Philip Anderson (@VoteBidenOut) March 18, 2024
