Mark Cuban has formally endorsed Democratic presidential nominee Hillary Clinton, and took aim at her opponent Donald Trump for being a poor leader.

Speaking at a campaign event in his native Pittsburgh on Saturday, Cuban announced: "I am ready to vote for a true leader, I am ready to vote for the American Dream. I am ready to tell the world that I am here to endorse Hillary Clinton."

He also referred to the Republican nominee as a "jagoff," which is Pittsburgh vernacular for a brash person who yells and intimidates, he explained.

"Trump scares me," Cuban said in a subsequent interview with CNN. "Donald, initially, I really hoped he would be something different, that as a businessperson, I thought there was an opportunity there. But then he went off the reservation and went bats--- crazy."

Cuban, it's worth pointing out, had previously stated he would be willing to run as vice president on either a Trump- or Clinton-led ticket. He's since waffled, though, coming out strongly in opposition to his fellow billionaire. Last week, he lambasted Trump on Twitter for failing to make his taxes public, writing that the Clintons' transparent tax payments, by contrast, make them "much smarter business people and negotiators."

As the race for the White House grows increasingly fraught, it's worth considering that entrepreneurs take a risk by formally endorsing a candidate. You could alienate potential customers, and the business may suffer in the event that the candidate loses.

Still, Cuban isn't the only high-profile business owner to come out in support of Clinton: Just last week, it was revealed that Apple CEO Tim Cook is planning a fundraising event for the Clinton campaign, though he's doing so as a private citizen, according to BuzzFeed News. (Earlier this summer, he hosted a fundraiser for Republican Speaker of the House Paul Ryan, suggesting some measure of support for both parties.)

Meanwhile, Peter Thiel, the billionaire PayPal co-founder, gave a ringing endorsement of Donald Trump at the Republican National Convention two weeks ago.

Published on: Aug 1, 2016