North Korea's Fourth of July test of an intercontinental ballistic missile represents a "very ominous" and "extremely dangerous situation" for the world, billionaire Ken Langone told CNBC on Thursday.
"This is the trigger, OK? This could be the trigger of a calamity in the world," Langone said on "Squawk Box."
"We're looking at the single greatest threat since World War II," he said.
Langone, a longtime Republican supporter and co-founder of Home Depot, spoke after President Donald Trump warned he is considering a "severe" response to North Korea after it claimed it successfully launched a missile capable of hitting Alaska.
On Wednesday, U.S. ambassador to the United Nations Nikki Haley said Washington was ready to use force if it became the only option to stop North Korea's nuclear missile program.
Langone said Trump and Russian President Vladimir Putin, who are set to meet at the G-20 on Friday, should talk about North Korea's leader and "nothing else" instead of "all this other crap."
"This is an extremely dangerous situation," Langon said. "We better figure out what we better do with this guy."
"We'll survive as a society and as a nation. He'll hit us once. We'll obliterate him. But look at what happens to the world when you do that."
—CNBC's Silvia Amaro contributed to this report.