Mark Cuban lauded for backing Trump after Dem lawmaker accuses him of ‘lying’ about being a billionaire

LOS ANGELES, CALIFORNIA: Former ‘Shark Tank’ host Mark Cuban backed former President Donald Trump on Tuesday, March 19, after a Democratic lawmaker accused him of lying about his net worth.

Per the New York Post, Rep Ted Lieu (D-Calif) posted on X with the hashtag #TrumpIsBroke, following the announcement by the former president's attorneys to a New York court that, despite contacting over thirty insurance companies, the 77-year-old MAGA strongman was unable to obtain the nine-figure bond sum in his civil fraud case.

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.”

What did Mark Cuban say in response to Democrat Ted Lieu’s tweet?

Cuban, the billionaire entrepreneur, defended Trump in a lengthy rebuttal to the Democratic congressman, claiming that "Net worth is completely different than cash in the bank."

The 65-year-old TV personality and philanthropist began his tweet, “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,” Cuban remarked, adding, “But you are wrong on this topic Ted.”

Cuban explained that Trump would have been "dumb" to retain his cash in a money market or bank account in a situation where there would have been a "zero interest rate".

The founder of Cost Plus Drugs, Cuban posted, “Also dumb was keeping interest rates that low for that long. Something Trump demanded more of.”

“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,” he elaborated. “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 added.

Few people, according to Cuban, keep more than 45 percent of their assets liquid, and Trump's non-liquid international holdings and commercial real estate would be unacceptable as collateral.

“No bond company is loaning against them in this commercial real estate market, if ever,” the Dallas Mavericks minority owner argued. 

In a recent court filing, lawyers for former President Donald Trump stated that he has declined to sell off his properties to make the bond payment for his civil fraud judgment.

His legal team argued that a fire sale of his assets would cause significant financial losses.

Meanwhile, Mark Cuban recently disclosed that he voted for former South Carolina Governor Nikki Haley in the Texas GOP presidential primary and that he intends to cast his ballot for President Joe Biden in the upcoming November election.

Cuban told Bloomberg News, “If they were having his last wake, and it was him versus Trump, and he was being given last rites, I would still vote for Joe Biden.”

Internet hails Mark Cuban for speaking facts despite personal dislike for Trump

People on X lauded the former ‘Shark Tank’ host for giving his take on what he believes the former President is going through at this time, after news broke of him failing to comply with the New York court orders and post the massive bond by March.

One X user remarked: “Even this is gaslighting. You know he didn’t lie on the application. This is why Trump Has support."

Another user said: "I have no idea what Trump‘s financial state is, but if he doesn’t have $400 million in cash he should stop saying that he has $400 million in cash."

Another user wrote: "Trump spent a year telling us Mar-A-Lago was worth over a billion dollars, so he should be able to get a 50% LTV loan on the property, even in this interest rate environment. All lending hasn't ended."

One user stated: "Mark, I really appreciate you. I do not necessarily agree with everything you say; however, I appreciate your ability to think independently and logically express ideas that may not be popular on the platform. Keep up the good work, Sir!"

Another X user asked: "Why aren't his wealthy children bailing him out? Hmmmm....telling."

Finally, this user tweeted: "I agree with Cuban. Most of Trump's wealth was sunk, meaning it was not available. Add to that the book values were severely overinflated. Trump is broke."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.