Republican billionaire Ken Langone rails against the media and Trump’s critics

Key Points
  • Ken Langone criticizes the media's reporting on President Donald Trump, especially regarding Russia's interference in the 2016 election.
  • Langone says the media "encourage people to believe" that the election process "is bad."
Ken Langone says North Korea could be 'trigger of a calamity in the world'
Ken Langone says North Korea could be 'trigger of a calamity in the world'

The media lost its objectivity in its reporting on President Donald Trump, threatening the U.S. political system, Republican billionaire Ken Langone told CNBC on Thursday.

"I think the media ought to be ashamed of itself," the co-founder of Home Depot said on "Squawk Box."

"The whole idea of a newspaper to me is 'give me the facts,'" Langone said. "The New York Times' front page is the equivalent of the editorial page now."

Although Langone is a vocal supporter of President Donald Trump, he said Trump was his third choice, behind New Jersey Gov. Chris Christie and Ohio Gov. John Kasich. Speaking before Trump's speech in Warsaw, Poland, Langone said the president's moves to lift "onerous and burdensome" regulations are helping to reposition America "in the best shape we've been in as a nation right now."

"Somebody told me in November, 'Don't listen to what he says, watch what he does.' What he has done so far in lifting these onerous and burdensome, needless regulations is absolutely incredible," Langone said.

Ken Langone
Cameron Costa | CNBC

He also said North Korea's test of an intercontinental ballistic missile that can reach Alaska is "the single greatest threat since World War II."

Langone criticized the media's focus on Russia's interference in the 2016 presidential election as a way to "encourage" distrust in the electoral process.

"The minute we encourage people to believe that our process is bad, we don't have a process," Langone said.

During the campaign and after the election, Trump has harshly criticized the media for what he calls "fake news." A CNN analysis found that Trump has sent more tweets attacking the media than he has about jobs or the military.

After Trump's speech in Warsaw, Langone said he hopes the president can avoid "demeaning" his own agenda through his behavior.

"He keeps saying he's president. Guess what? He is president, he won fair and square. Act like it."