Trump Was Bad For His Business, Billionaire Friend Testifies: 'The Continued Drama This President Found Himself In...'

Donald Trump’s presidency was “disastrous” for Thomas Barrack’s business — the latter testified at a criminal trial in Brooklyn, New York on Monday.

What Happened: Touching on the impact on his company Colony Capital, Barrack said, “The owners of public shares vote with their feet,” reported CBS News.

He said, “The continued drama that this president found himself in … a lot of these institutional shareholders were upset that I was involved with the president."

On the impact of Trump’s friendship, Barrack told the court that this was the reason he was "sitting with all of you today."

Why It Matters: Barrack, age 75, is accused of serving as an “unregistered foreign agent” and meeting with and taking directions from the United Arab Emirates.

Trump and Barrack have spoken at least once after the trial began last month, a person familiar with the matter told CBS News.

Rex Tillerson, a Trump-era Secretary of State, said earlier this month that he was unaware that Barrack was privy to “sensitive internal discussions” and that he never requested the California-based billionaire to act as a conduit between the U.S. and UAE.

On Sunday, Trump called Barrack a “highly respected businessman whose DREAM was to see PEACE IN THE MIDDLE EAST.” The former U.S. leader described it as a “very good and noble thing” on Truth Social.

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