Kevin O’Leary Net Worth: Kevin O’Leary is a Canadian businessman, writer, politician and tv persona who has a net worth of $400 million. He is greatest identified for being the founding father of software program firm SoftKey International and actuality tv reveals “Dragons’ Den” and “Shark Tank”.
Early Life: Terence Thomas Kevin O’Leary was born in Montreal, Quebec, Canada on July 9, 1954. His mom is of Lebanese descent, and his father is of Irish respectable. Due to his paternal heritage, O’Leary additionally holds an Irish passport and citizenship.
Following his dad and mom’ divorce, and his father’s dying quickly after, O’Leary’s mom married economist Gorge Kanawaty. Due to his stepfather’s work with the UN’s International Labour Organization, O’Leary grew up transferring across the globe, dwelling in locations together with Cambodia, Tunisia and Cyprus. His mom was a talented investor, and taught him a lot of what she knew, together with the lesson to at all times save one-third of his cash.
On the recommendation of his stepfather, O’Leary attended college as an alternative of pursuing his preliminary aspirations to be a photographer. It was in school that he continued to develop his curiosity in enterprise and investing. He graduated from the University of Waterloo with a bachelor’s diploma in 1977, and an MBA from the Ivey Business School on the University of Western Ontario in 1980.
Business Career: While finding out for his MBA, O’Leary accomplished an internship at Nabisco, and labored as an assistant model supervisor for the corporate’s cat meals model. He credit this expertise as serving to him develop expertise that aided his later success. After leaving Nabisco, O’Leary launched into a short profession as a tv producer, co-founding unbiased tv manufacturing firm Special Event Television (SET) with two former MBA classmates. O’Leary’s share of the enterprise was finally purchased out by one among his companions for $25,000.
After promoting his share of SET, O’Leary began the software program firm SoftKey in 1986 in a Toronto basement with enterprise companions John Freeman and Gary Babcock. After a significant monetary backer withdrew their $250,000 dedication, O’Leary used his $25,000 SET share cash and a $10,000 funding mortgage from his mom to ascertain the corporate, which was a writer and distributor of CD-ROM-based private pc software program for Windows and Macintosh computer systems.
The firm developed a lot of instructional software program merchandise, and by 1993 had develop into a significant consolidator within the instructional software program market after buying rival corporations similar to WordStar and Spinnaker Software. In 1995 after buying The Learning Company (TLC) for $606 million, Softkey adopted the TLC title. In 1999 TLC was purchased by Mattel for $4.2 billion. Following a drop in gross sales and earnings for Mattel, O’Leary departed the corporate. Mattel executives and O’Leary had been sued by Mattel shareholders for deceptive traders in regards to the well being of TLC, however O’Leary disputed all prices, blaming the failure of the acquisition on the expertise meltdown and tradition conflict of administration of the 2 corporations.
In 2003 O’Leary turned a co-investor and a director of the corporate Storage Now in 2003. They are a developer of local weather managed storage amenities. After a string of improvement initiatives and acquisitions, Storage Now has develop into Canada’s third largest proprietor/operator of storage providers. Storage Now had amenities situated in eleven cities serving such main corporations as Merck and Pfizer. The firm was acquired for $110 million in March 2007.
Media and Other Ventures: In September 2011, O’Leary launched his first ebook “Cold Hard Truth: On Business, Money & Life.” He launched two follow-ups in 2012 and 2013. O’Leary’s first tv look got here in 2006 as one of many 5 enterprise capitalists on the CBC present “Dragons’ Den”. He developed an on-screen persona as a blunt, bullying investor, one thing inspired by the present’s producers. O’Leary was invited to hitch “Share Tank”, the American model of “Dragons’ Den”, in 2009. He remained on each reveals till leaving “Dragons’ Den” in 2014. Through his appearances on the 2 reveals, he gained the nickname “Mr. Wonderful”, each a tongue-in-cheek reference to his repute for being imply, but in addition that his blunt suggestions is useful to misguided entrepreneurs showing on the present. He has a holding firm, Something Wonderful, for managing his investments on the present. Some of his notable offers from “Shark Tank” embody investments in Talbott Teas (later acquired by Jamba Juice) and GrooveBook (later acquired by Shutterfly).
Other tv and media pursuits by O’Leary embody co-hosting Discovery Channel’s “Discovery Project Earth” in 2008; a section on CBC News Network with journalist Amanda Lang, “The Lang and O’Leary Exchange”, in 2009; and producing and internet hosting his personal actuality present in 2012, “Redemption Inc.”, wherein he tried to assist ex-convicts begin their very own companies.
Politics: On January 18, 2017, O’Leary formally entered the Conservative management race following months of public hypothesis. During his marketing campaign, he was typically in contrast by the press to U.S. President Donald Trump: each had been rich businessmen who gained wider recognition by actuality tv, and ran on platforms that included reducing taxes and rules. O’Leary has dismissed comparisons, noting specifically his distinction from Trump with reference to immigration, declaring that he himself is descended from Irish and Lebanese immigrants, and “wouldn’t exist if Canada had walls”. He formally left the management race on April 26, 2017, noting that though he believed he might win the management election, it might be “selfish” of him to proceed as a result of an absence of help for him in Quebec meant it might be tough for him to beat Justin Trudeau in 2019.
Political Life: O’Leary has been married to his spouse Linda since 1990, with a short two-year separation in 2011. She serves because the VP of Marketing for O’Leary Wines. The couple have two kids.
His main residence is in Toronto, though he maintains a cottage in Muskoka, Ontario, in addition to properties in Boston and Geneva, Switzerland.