BILLIONAIRE entrepreneur Mark Cuban has warned businesses would be better off without politicians meddling in the economy, as he insisted the next US president needs to “shut up.”
In an exclusive interview with The U.S. Sun, the Shark Tank judge and Dallas Mavericks minority stakeholder also admitted to losing millions by trusting the wrong person in some of his biggest business mistakes.
“Just work on reducing stress,” Cuban said when quizzed about the best first action the next president should take.
“Just shut up.
“You don’t have to talk about the economy and everything entrepreneurs have been creating…we’ve seen more business creation over the past four years than we have in years previously.
“We’ve seen those businesses grow and doing well for the most part. We don’t need a president who’s just going to talk about it all the time and say what they’re going to do and not do.”
Cuban, who has endorsed Vice President Kamala Harris and joined her on the campaign trail this week, also attacked Trump, claiming the country doesn’t need “somebody who’s going to tweet in the morning about some company they hate.”
The billionaire’s comments came after Squad member Alexandria Ocasio-Cortez accused him of playing “footsie” with the election and threatened a “brawl” over his opinions on the Federal Trade Commission chair.
Her threats came after Cuban said he would not keep Lina Khan on as the chair of the FTC if he were Harris, arguing she had overstepped in taking on big tech in the AI space.
The U.S. Sun sat down with Cuban for an exclusive on-camera interview in the New York studio, discussing a number of issues, including politics, Shark Tank, business, the retail crisis, and sports.
According to data compiled by The U.S. Census Bureau and released by The White House earlier this year, America is experiencing a boom in business creation.
With the Covid-19 pandemic creating new opportunities and reshaping the US economy, the nation has seen a massive surge in new businesses opening their doors.
Census data has found the number of private industry establishments grew from an annual rate of 1.4% between 2000 and 2019 to nearly 6% in 2022.
Over the past three years, the annual pace of establishment growth has been faster than any single year in the last quarter-century.
Cuban, who voted for Obama in 2008, initially backed Trump’s first presidential campaign in 2015, calling him “probably the best thing to happen to politics in a long, long time.”
While admitting he had little concern for his policies, the Shark Tank judge said he liked the fact that Trump spoke his mind and gave honest answers.
Cuban appeared to like Trump’s push to disrupt the status quo of US politics.
“I don’t care if he says the wrong thing. He says what’s on his mind. He gives honest answers rather than prepared answers. This is more important than anything any candidate has done in years,” Cuban said in 2015.
However, the billionaire investor has since been a long-outspoken critic of Trump, recently calling his push to impose sweeping across-the-board tariffs on China “lunacy.”
With the November 5 election fast approaching, Cuban has stepped up his campaigning efforts for Harris.
Cuban is set to campaign alongside the Democratic nominee in three swing states this weekend,including Wisconsin, Arizona, and Michigan.
Allan Lichtman’s 2024 presidential election prediction
Renowned historian Allan Lichtman has accurately predicted the outcomes of presidential elections since 1984 using his 13 Keys to the White House algorithm. The scholar has revealed who he thinks will be inaugurated as the 47th president in January next year based on his system of true and false statements.
If six or more statements go against the White House party, they are projected to lose the presidential election.
Midterm elections: The Democrats suffered losses in the 2022 House elections, meaning the key turns false. (Harris 0-1 Trump)
There is no primary contest: This key turns in favor of Harris because the Democrats got “smart” and rallied behind the vice president after Joe Biden ended his campaign, according to Lichtman. (Harris 1-1 Trump)
The sitting president is seeking another term: This turns false because Biden suspended his re-election campaign. (Harris 1-2 Trump)
There is no third-party challenger: This statement is true because third-party candidates like Robert F. Kennedy Jr. needed to poll at 10% nationally, according to Lichtman. (Harris 2-2 Trump)
The short-term economy is strong: This key goes in favor of the White House Party. (Harris 3-2 Trump)
The long-term economic growth has been as good as the last two terms: This key also swings toward Harris. (Harris 4-2 Trump)
The White House Party has made major national policy changes: This key is also true, according to Lichtman’s theory. (Harris 5-2 Trump)
There is sustained social unrest during the term: College campus demonstrations have erupted in reaction to the Gaza conflict, but no protests have broken out that threaten the fabric of society. This means the key goes in Harris’ column. (Harris 6-2 Trump)
The White House is untainted by scandal: Despite House Republican efforts to impeach Joe Biden, they have been unable to pin a scandal on him. (Harris 7-2 Trump)
The incumbent is charismatic: Harris is not considered a Ronald Reagan or Franklin D. Roosevelt-like figure so the key is false. (Harris 7-3 Trump)
The challenger is uncharismatic: This key goes in favor of the White House party – even though Trump is a showman. (Harris 8-3 Trump)
Lichtman warned that the two foreign policy keys – whether there has been a major success or no failure – could flip either way.
But, even if both statements flipped against Harris, Trump would not have enough keys in his column to win the election.
In The U.S. Sun’s exclusive sit-down interview, Cuban attacked Trump, arguing that the Republican nominee did not understand the impact they would have on US businesses.
“We don’t need a president who’s just going to talk about it all the time and say what they’re going to do and not do,” Cuban said.
“We particularly don’t need somebody who’s going to tweet in the morning about some company they hate, or some country he hates, or has a bone to pick.”
“He’s not only increasing the price of goods and it being inflationary, he’s literally, if he does what he says he’s going to do, he’s going to put I don’t know how many small businesses out of businesses, and he doesn’t even understand it.
“That’s why I’m so against his presidency.”
Trump this week defended his economic plan in an interview with Bloomberg for the Economic Club of Chicago, arguing his proposal to implement tariffs would bring companies back to the US.
When asked about concerns his policies would drive up inflation, Trump pointed to prices during his presidency.
In contrast, Kamala has been slammed for alleged pandering after she announced a plan to offer 1 million business loans of up to $20,000 each to Black entrepreneurs.
Critics have also complained Harris has failed to articulate a detailed economic plan for the American economy and inflationary pressures faced by voters.
But Cuban praised Harris, claiming she understood businesses.
“I think that’s one of the reasons why I’m supporting Kamala Harris, because she understands entrepreneurs and that they just want to go and go to work,” Cuban said.
Harris has enlisted the billionaire investor to support her campaign amid ongoing concern about her ability to convince American voters to support her economic plan.
The economy and inflation consistently ranked as the most important issues to voters this election, and voters often say they think Trump would be better able to handle the economy.
Meanwhile, tech billionaire Elon Musk is backing Trump’s White House bid.
The world’s richest person has funneled $75 million into Trump’s campaign, according to new documents filed with federal regulators this week.
Musk has also appeared at multiple rallies alongside the former US President, most recently appearing in Pennsylvania on Thursday.
Former President Donald Trump campaigning alongside tech billionaire Elon Musk[/caption]
Cuban also revealed he had lost millions of dollars on two occasions, when the U.S. Sun asked him about his biggest mistake he’s ever made in terms of investing.
Cuban said he had made “so many” mistakes and blamed the faults on not doing his due diligence.
“There’s so many, and it’s a long long list,” Cuban said.
“I mean, not doing my due diligence.
“There’s been times when I kind of rushed things and thought it was a great idea and thought, okay, this person seems trustworthy and they weren’t.
“And there’s a lot of things that they said that weren’t true and it cost me a few million dollars twice.”
Cuban said he had been “arrogant” in the past and falsely believed people.
“Those were the biggest mistakes, it’s just because, you know, sometimes as somebody who’s had some success, I’d get arrogant thinking, oh, I know what’s going on.
“I don’t have to do the due diligence my people want to do. And I was wrong and they were right.”
