"Loser state": Kevin O'Leary announces that he will not invest in New York again after the ruling against Donald Trump

Businessman Kevin O'Leary is boycotting New York. The Canadian investor spoke out about the $355 million fine that the New York Justice imposed on Donald Trump after ruling that he committed civil fraud.

O'Leary described New York as a "loser" state for these types of policies. "I can't even understand or fathom the decision at all. There's no rationale for it," the businessman said during an interview with Fox. "And I'm no different from any other investor, I'm shocked at this," O'Leary said regarding the ruling that also prevents Trump from doing business in New York.

"(New York) was already on the top of the list of being a loser state. I would never invest in New York now," the businessman investor told Fox. He claims the state's policies are disastrous for businessmen in the Democratic state. O'Leary said Florida or Texas are much better places to invest as they are hubs for business development.

O'Leary spoke on behalf of the business sector and investors and criticized New York Governor Kathy Hochul. She spoke out over the weekend after Trump's ruling was made public and assured business owners that they have "nothing to worry about." However, O'Leary called the court ruling against Trump "arbitrary."

"I'm sorry her words fall on deaf ears to everybody," said the businessman about Governor Hochul's statements. "There's nothing she can say to justify this decision. And this has nothing to do with Trump, nothing to do with Trump. Forget about Trump, this is not a Trump situation, this is a New York problem," he said.