Comedian and commentator Jon Stewart fired back at conservatives after a New York Post article attempted to paint him as a hypocrite. The article, fueled by a tweet from podcaster Tim Pool, insinuated that Stewart had committed fraud when he sold his New York City penthouse for $17.5 million in 2014.
Post reporter Mary K. Jacob wrote that Stewart's "New York City penthouse sold for 829% more than its assessed value" when he sold it to financier Parag Pande for $17.5 million. Jacob noted that while the property’s asking price at that time "is not available in listing records," the property's estimated market value was $1.882 million and "the actual assessor valuation was even lower, at $847,174."
The article, which began with several paragraphs suggested Stewart's criticisms of former President Donald Trump's New York civil case and $454 million appeal bond were hypocritical because he "benefited from a similar inflation."
Stewart took to X, formerly Twitter, to address the allegations, sarcastically pointing out the vast differences between his actions and those of the former president and highlighted the absurdity of equating his legitimate property sale with Trump's documented instances of fraud:
"OMG!! I've been caught doing something not remotely similar to Trump! I guess all I need to do now is start a fraud college, steal classified docs, bankrupt casinos, pay hush money, grab pussies, discriminate in housing, cheat at golf and foment insurrection and you'll revere me!"
You can see his post below.
The crux of Stewart's argument lies in the distinction between his property transaction and Trump's fraudulent activities. While Trump manipulated property values to deceive lenders and financial institutions, Stewart's sale of his penthouse was based on a willing buyer's offer of $17.5 million. Stewart did not engage in the deceptive practices that characterized Trump's business dealings.
Moreover, the difference between assessed value and market value is a common occurrence in real estate transactions, as Forbes notes. Market value, representing what a buyer is willing to pay, often differs from assessed value, which is determined for tax purposes.
Liberal writer and activist Ed Krassenstein also stressed this in addressing the accusations against Stewart, noting Stewart "didn’t lie about the value to make more money."
He added:
"Trump's fraud lawsuit centered on allegations that Trump and the Trump Organization misrepresented the value of their assets on financial statements used for loans and tax benefits. The lawsuit argued that Trump inflated the value of his assets to secure loans and insurance benefits and deflated them to reduce tax liabilities."
"It's not fraud to sell a property for more than the city says it's worth. It is fraud to knowingly inflate the value of your property on paper in order to maximize loans you could obtain, while also deflating the value in order to save money elsewhere."
"Stop comparing apples to orange men."
You can see his post below.
Others were quick to dismiss the Post article for drawing false parallels.
Trump received a significant reprieve as an appeals court reduced the amount he must pay to pause the collection process while he appeals a judgment of over $454 million in his New York civil fraud case.
A panel of five appeals judges granted Trump's request on Monday, agreeing to halt the collection process if he provides a $175 million bond within the next ten days. This decision comes as a notable relief for Trump, particularly considering that one of the judges had previously rejected his proposal for a $100 million bond.
Although the nearly half-billion-dollar bond seemed to pose a challenge for Trump, he recently stated that he possesses $500 million in cash-on-hand. However, he clarified that these funds are earmarked exclusively for his ongoing presidential campaign.
@realDonaldTrump/Truth Social
@realDonaldTrump/Truth Social
@TimmyFiveTimes/X
