Kevin O'Leary facts for kids
Quick facts for kids
Kevin O'Leary
|
|
|---|---|
O'Leary in 2023
|
|
| Born |
Terrence Thomas Kevin O'Leary
July 9, 1954 |
| Other names |
|
| Citizenship |
|
| Alma mater | |
| Occupation | Businessman, investor, author, television personality |
| Known for | Reality TV host, CNBC and BNN contributor |
| Political party | Conservative (2004–present) Liberal (before 2004) |
| Spouse(s) |
Linda Greer
(m. 1990) |
| Children | 2 |
Terrence Thomas Kevin O'Leary (born July 9, 1954), also known as Mr. Wonderful, is a Canadian businessman and television personality. He is famous for appearing on business reality TV shows like Dragons' Den in Canada and Shark Tank in the United States.
O'Leary helped start a technology company called SoftKey Software Products. This company sold educational and entertainment software for families. SoftKey grew by buying other software companies. It later changed its name to The Learning Company. In 1999, a toy company called Mattel bought The Learning Company. This sale made O'Leary a very rich person.
In 2017, he tried to become the leader of the Conservative Party of Canada. However, he decided to stop his campaign before the election. He felt he did not have enough support in Quebec. Besides being a Canadian citizen, O'Leary also has citizenship in Ireland and the United Arab Emirates.
Contents
Early Life and Education
Kevin O'Leary was born on July 9, 1954, in Montreal, Canada. His mother, Georgette, was a small business owner and investor. His father, Terry, was a salesman. Kevin also has a brother named Shane. Because of his father's family background, Kevin also has Irish citizenship.
O'Leary grew up in Mount Royal, Quebec. His parents divorced when he was young. His father passed away when Kevin was only seven years old. After his father's death, his mother managed the family's clothing business. His mother later married an economist who worked for the United Nations. Because of his stepfather's job, Kevin's family moved often. He lived in many different countries, including Cambodia, Ethiopia, Tunisia, and Cyprus.
Kevin's mother was a very smart investor. She saved and invested a lot of her money in stocks and bonds. She earned good returns on her investments. Kevin learned many important lessons about investing from his mother. She taught him to save a third of his money.
O'Leary first wanted to be a photographer. But his stepfather encouraged him to think about a more practical career. This led him to go to university. He studied environmental studies and psychology at the University of Waterloo. He earned his degree in 1977. In 1980, he received his MBA (Master of Business Administration) from the University of Western Ontario.
Business Ventures
After finishing his MBA, O'Leary worked briefly as a television producer. He co-founded a company called Special Event Television (SET). This company made sports shows and documentaries. He later sold his share of SET for $25,000.
Starting SoftKey Software
In 1986, O'Leary used the money from selling his SET share to start SoftKey. He also borrowed $10,000 from his mother. SoftKey published and sold computer software on CDs. The company focused on educational software for home users.
SoftKey grew quickly during the 1980s and 1990s. By 1993, it became a big player in the educational software market. SoftKey bought other companies like WordStar and Spinnaker Software. In 1995, SoftKey bought a company called The Learning Company (TLC) for $606 million. SoftKey then changed its name to The Learning Company.
In 1999, Mattel, a large toy company, bought The Learning Company for $4.2 billion. After this, Mattel's sales and profits dropped. O'Leary was let go from the company. The purchase by Mattel was seen as a very bad business deal. Mattel's stock price fell a lot, losing billions of dollars for its shareholders.
StorageNow Holdings
In 2003, O'Leary invested in StorageNow Holdings. This company built and managed storage facilities in Canada. StorageNow became the biggest storage company in Canada. It was sold in 2007 for $110 million. O'Leary made a good profit from this sale.
O'Leary Funds
In 2008, O'Leary co-founded O'Leary Funds Inc. This company managed mutual funds, which are investments that pool money from many investors. O'Leary was the chairman and a main investor. The company's managed assets grew to $1.2 billion by 2012.
In 2015, O'Leary Funds was sold to Canoe Financial.
Other Investments
O'Leary also founded O'Leary Ventures, which invests in new, early-stage companies. He also started O'Leary Mortgages, O'Leary books, and O'Leary Fine Wines.
He launched an Exchange-Traded Fund (ETF) through O'Shares Investments in 2015. O'Leary believes in investing in different types of assets. He suggests that investors should have a percentage of bonds in their portfolios equal to their age. For example, a 30-year-old should have 30% in bonds and 70% in stocks. He also likes to invest in stocks that pay dividends. O'Leary also invests in physical gold.
Cryptocurrency
At first, O'Leary was unsure about cryptocurrency like Bitcoin. He called it a "digital game" in 2019. He thought it was not a "real currency" because its value changed a lot.
However, in May 2021, O'Leary changed his mind. He invested some of his money in Bitcoin. He also became an investor in a company called Defi Ventures, which later changed its name to WonderFi Technologies.
In August 2021, O'Leary became a spokesperson for FTX, a cryptocurrency exchange. He received an ownership stake in FTX as part of his payment. FTX later went bankrupt. O'Leary said he lost money in digital assets and equity because of this. He has continued to support cryptocurrency investing. He owns coins in Ether, Polygon, SOL, Bitcoin, and Pawthereum.
Books
Kevin O'Leary has written several books about business, money, and life.
- Cold Hard Truth: On Business, Money & Life (2011)
- Cold Hard Truth on Men, Women, and Money: 50 Common Money Mistakes and How to Fix Them (2012)
- Cold Hard Truth on Family, Kids and Money (2015)
- Cold Hard Truth on Marriage and Money: Part Two of Cold Hard Truth on Family, Kids and Money (2015)
- Digital Pivot or Bust In a Post COVID-19 World: Why Small Businesses Must Re-Think Everything to Survive and Thrive! (2020)
Media Appearances
Dragons' Den and Shark Tank
In 2006, O'Leary became one of the investors on the Canadian TV show Dragons' Den. On the show, he became known for being a very direct and tough investor. He would often give blunt advice to people trying to get investments. The show became very popular in Canada.
In 2009, the American version of the show, Shark Tank, started. O'Leary was invited to be an investor on this show too. He has been on Shark Tank ever since. For some years, he appeared on both shows. Shark Tank also became a huge success, with millions of viewers. It has won several awards.
His appearances on these shows made the nickname "Mr. Wonderful" very popular for him. He says people often call him that in public. O'Leary has explained that the nickname is a bit of a joke about his tough personality. But it also shows that he believes his honest advice helps new business owners.
On both shows, O'Leary often prefers to lend money to entrepreneurs. In return, he asks for a percentage of their future sales. This is different from taking a share of their company.
Other TV Projects
In 2008, O'Leary co-hosted Discovery Project Earth on the Discovery Channel. This show looked at new ways to help the environment.
From 2009, O'Leary appeared on The Lang and O'Leary Exchange on CBC News Network. This was a business news program.
In 2012, O'Leary co-produced and hosted Redemption Inc. on CBC. In this show, former prisoners competed to get O'Leary to fund their business ideas. He also appeared as a contributor for Discovery Channel's radio and TV stations starting in 2014.
In 2015, O'Leary was a celebrity judge for the 95th Miss America pageant. He also hosted a podcast called Ask Mr. Wonderful and started posting videos with the same title on YouTube in 2019. In 2021, he appeared on CNBC's Money Court, where he helped solve financial disagreements.
Political Activities
In January 2016, O'Leary suggested he would invest $1 million in Alberta's economy. This was if the Premier of Alberta, Rachel Notley, resigned. He also attended meetings for federal Conservatives. This led to people wondering if he would run for leader of the Conservative Party of Canada.
2017 Conservative Party Leadership Race
_(cropped).jpg)
On January 18, 2017, O'Leary officially joined the race to become the leader of the Conservative Party. Some people criticized him for not speaking French well. O'Leary said he was taking French lessons.
O'Leary was a leading candidate in the polls for most of his campaign. However, he left the race on April 26, 2017. He said that he didn't have enough support in Quebec. He felt this would make it hard for him to win against Justin Trudeau in the next federal election. When he dropped out, he supported another candidate, Maxime Bernier.
Political Views
Economy and Trade
O'Leary supports free trade agreements, like the North American Free Trade Agreement. He believes that business taxes in Canada are too high. He has said he would remove the national carbon tax. He also wants to end government spending that creates debt.
He has criticized some politicians for wanting higher corporate taxes. O'Leary supports increasing tariffs (taxes on imported goods) on products from China.
Labor Rights
O'Leary does not support laws that give employees the right to ignore work messages outside of work hours.
Energy
O'Leary supports building a pipeline from the Athabasca oil sands to Eastern Canada. He wants Canada to produce all its own energy. He has criticized Canada for relying on other countries for oil and gas.
Social Issues
O'Leary describes his social views as "very liberal." He supports same-sex marriage and transgender rights.
Foreign Policy
O'Leary supported ending Canadian airstrikes against ISIS. He believes Canada should take a peacekeeping role in the Syrian Civil War. He has also said that Russia is "neither an ally nor a foe."
He supports increasing spending on the Canadian Armed Forces. He believes Canada should spend 2% of its GDP on military expenses, as recommended by NATO.
Immigration
O'Leary has suggested a "fast track" for citizenship. This would be for immigrants who graduate from college or university and find jobs. It would also apply to their families. He also wants stronger border security.
Personal Life
O'Leary is Catholic. He has been married to Linda Greer since 1990. They separated for two years but got back together. They have two children, Trevor and Savannah. The O'Learys live in Miami Beach and Toronto. He also has a cottage in Muskoka, Ontario, and homes in Boston and Geneva, Switzerland. He also has citizenship in the United Arab Emirates.
O'Leary is a big fan of the New England Patriots football team. He enjoys wine and is part of a group that celebrates Burgundy wine. He is also a lifelong photographer. He has shown and sold his photos, giving the money to charity. O'Leary also collects watches and shares his knowledge about them.
Boating Accident
On August 24, 2019, O'Leary and his wife Linda were in a boating accident on Lake Joseph in Muskoka, Ontario. Their boat collided with another boat. Sadly, a 64-year-old man and a 48-year-old woman on the other boat died. O'Leary stated that he was working with the police investigation.
Cool Facts About Kevin O'Leary
- Because his father was Irish, Kevin also has Irish citizenship. He carries an Irish passport.
- Kevin O'Leary has dyslexia. He believes this learning difference actually helped him in business.
- When he was young, he met two famous leaders: Haile Selassie of Ethiopia and Pol Pot of Cambodia.
- Kevin says his success at The Learning Company came from marketing skills. He learned these skills when he worked at Nabisco.
- Many of his best money lessons came from his mother. She taught him to save one-third of all his money.
- O'Leary is a fan of cryptocurrency investing. He owns different digital currencies like Ether, Polygon, SOL, Bitcoin, and Pawthereum.
- He loves the New England Patriots football team. He says he watches every one of their games.
See also
- List of University of Waterloo people
