Congress Member Said Trump's Net Worth Was Fake. Then, Billionaire Mark Cuban Entered the Conversation

After the legal woes of former President Donald Trump, in which he had first been ordered to pay more than $450 million as bond, everyone had something to say, especially when it came to the real estate mogul's finances. Amid allegations of dishonesty surrounding his net worth, Mark Cuban once stepped forward to defend Trump in response to California Rep. Ted Lieu's assertion that the business mogul turned politician is financially strained. 

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," after Trump's lawyer couldn't secure a nine-figure bond sum for the infamous civil fraud case that constantly made headlines. That is when Cuban entered the conversation; the owner of the Dallas Mavericks made a case for distinguishing between net worth and readily available cash, particularly given the zero-interest rate environment.  

"Ted, you know I'm no supporter of Trump. That's for damn sure," Cuban wrote, as per 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. Also dumb was keeping interest rates that low for that long. Something Trump demanded more of," added the Dallas Mavericks owner. 

Continuing further, Cuban added, "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. 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 conclusion, Cuban wrote, "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." However, it is worth noting that while Cuban stepped up and cleared the air about Trump's net worth, he previously supported the ex-president's rivals, including Nikki Haley and current president Joe Biden. 

In other news, Trump recently posted on his Truth Social account, a platform similar to X, that his initial action as President would involve releasing those he believes to be 'wrongfully imprisoned.' "My first acts as your next President will be to Close the Border, DRILL, BABY, DRILL, and Free the January 6 Hostages being wrongfully imprisoned!" wrote Trump. According to The Guardian, in response to Trump's comments, Sarafina Chitika, a spokesperson for President Joe Biden's campaign, asserted that the former President "has demonstrated his willingness to take any measures necessary to retain power — even by condoning and promoting political violence."

This article was originally published on 03.21.24.