Kevin O'Leary Slams 'Wasteland' Liberal City Over Store Closures

"Shark Tank" star Kevin O’Leary slammed the political blunders leading to San Francisco’s downfall. He called the once thriving city a "wasteland."

O’Leary highlighted the errors by California’s leaders affecting the state’s largest cities. He urged people to see the decline firsthand.

"Walk around San Francisco. It is not America anymore. It just isn’t," he emphasized on "Cavuto: Coast to Coast" Monday.

O’Leary blamed the city’s quick decline on poor policies, high taxes, and bad policies.

Earlier this year, San Francisco Centre, the city’s largest mall, was reportedly only 25 percent occupied after more retailers closed.

In June, the mall’s owner, Westfield, announced it would return the property to the bank due to "challenging operating conditions in downtown San Francisco." Soon after, Cinemark Holdings announced its theater at the mall would close.

"What a wasteland. All of these places shutting down. It is not a partisan argument. When a Walgreens shuts down and a drug store shuts down and a convenience store shuts down, a bodega shuts down, that’s nothing to do with whether you’re blue or red," O’Leary explained.

"Don’t listen to me. Go try it out. You wouldn’t run a convention in San Francisco. You have to take an Uber one block to your hotel, or you get executed," he stressed.

He blamed the top managers, city administrators, and mayors for the current living standards.

O’Leary, a vocal critic of California Gov. Gavin Newsom, didn’t mince words about the state’s poor policies.

Recently, California’s $20 minimum wage hike has become a major issue for many business owners.

"It’s a mistake, it’s a Gavin Newsom mistake," O’Leary said about the new law.

"It's not just fast food and convenient dining that's shutting down because they're unprofitable at $20 a minimum wage. Lots of other businesses are leaving that state," he continued.

O’Leary admitted he no longer invests in startups in California. Despite investing in a few, he would move their headquarters out of the state.

He told FOX Business’ Ashley Webster that the state is being "hollowed out" and that taxpayers, businesses, and wealthy individuals are moving to Tennessee, Texas, and Florida.

"It [California] is not a place to do business. It’s not in business," O’Leary said.

"I think Gavin Newsom, for his interest in running for president, should probably fix California now, because everybody in the country has figured out that place is a disaster," he urged.

Our Privacy Policy has been updated to support the latest regulations.Click to learn more.×