Who is Kevin O’Leary? What is net worth of Kevin O’Leary? On many occasions, The US President Donald Trump has put his foot into his mouth. He is not the first and will certainly not be the last person to do so either. He has tough competition in this sector from Canadian television personality, Kevin O’Leary.
To call Kevin O’Leary as a television personality alone would be an understatement. He is a successful business magnate, author, and politician as well. Born on 09 July 1954, Kevin is the co-founder of O’Leary Funds and SoftKey. He gas appeared on Canadian Television in various programs such as the Land and the O’Leary Exchange, and the reality show series Dragon’s Den, etc. Discovery Channel had him of Project Earth. He also starred on ABC’s Shark Tank from 2009 to 2016.
He is the co-founder of SoftKey Software Products, specializing in selling software focusing on family education and entertainment. After the acquisition of companies such as The Learning Company and Broderbund, the company changed its name to ‘The Learning Company’. The Mattel Toy Company acquired this software company in 1999. This deal made a millionaire out of O’Leary. He tried his hand at politics as well by becoming a candidate to lead the Conservative party of Canada.
His first initiation into business was through an internship with Nabisco. With the help of two former classmates, he co-founded Special Event Television (SET). He was working as a television producer at that time. This Company produced some sporting programs and had moderate success. He quit this company with one of the existing partners buying out his share.
This money formed part of the seed capital for his new venture, SoftKey. His friends John Freeman and Gary Babcock collaborated with him in this endeavor in 1986. After having a successful run in the market, SoftKey acquired the Learning Company for $606 million in 1995. There was a change in the name of the company thereafter. The new name was The Learning Company (TLC).
TLC made some initial losses before acquiring Broderbund in 1998 for $416 million. Subsequently, Mattel acquired TLC for $4.2 billion. This deal has the reputation of being one of the most disastrous deals in the history of business. On suffering a loss of $105 million, the stocks of Mattel dropped on the US Stock Exchange taking down with it $3 billion of its shareholder’s funds in a single day. Mattel filed a lawsuit claiming O’Leary of misleading them. Kevin settled the deal out of court by paying a sum of $122 million in 2003.
A couple of projects followed this debacle before O’Leary co-founded the mutual fund company, O’Leary Funds Inc. This company formed the base for setting up companies such as O’Leary Ventures, O’Leary Mortgages, etc.
He has written many books as well on the subject of investment and business such as ‘Cold Hard Truth’.
On the TV front, he made his debut as one of the venture capitalists on Dragon’s Den. He acted in the American version of the same program, Shark Tank. It was during one such episode that the name of ‘Mr. Wonderful’ stuck to his name. He collaborated with journalist Amanda Lang on the show, The Lang and O’Leary Exchange.
The political career of O’Leary started with the resignation of Stephen Harper as the leader of the CPC. O’Leary decided to throw his hat into the ring leading to comparisons with Donald Trump. Both were business magnates and TV personalities before trying their hand at politics. Both have a sharp tongue and a wicked sense of humor. O’Leary faced dissent among the party members because of his inability to speak French.
On the personal front, he differs a lot from Trump. O’Leary is married to Linda. They stayed together for 21 years since 1990 before splitting in 2011. However, they reunited in 2013. Linda is now serving as the VP (Marketing) for O’Leary Wines. O’Leary is a big supporter of the New England Patriots, a football team in Canada.
Education: O’Leary is of mixed descent. He has an Irish father and a Lebanese mother. His parents divorced very early when he was a child. After his father’s death soon thereafter, his mother started running his business. She remarried an economist. Kevin used to live with his mother and stepfather. He had his initial schooling in St George’s School, Quebec. His first college was the Stanstead College in Quebec. He graduated from Nepean High School in Ottawa. Subsequently, he went to the Royal Military College Saint Jean. He has a Bachelor’s degree from the University of Waterloo along with an MBA from the University of Western Ontario.
Kevin O’Leary Net Worth
Kevin O’Leary has an estimated net worth of $420 million US dollars as of 2017. This is perfectly possible if you go through the profile of Kevin O’Leary. Co-founder of several companies, such as SoftKey, etc, Kevin O’Leary is in this field since a long time. His deal of selling the company SoftKey to Mattel made him a millionaire and the deal one of the most disastrous in history. With his sharp business acumen, O’Leary wriggled out of the Mattel lawsuit by paying an amount of $122 million. In spite of this debacle, he has raked in the millions into his bank accounts.
Kevin O’Leary Business Model:
O’Leary’s mother had great business acumen. She used to make it a point of investing one-third of the monthly income in dividend-bearing stocks. She forced Kevin to follow the same principle as well. While pursuing his MBA, he did an internship with Nabisco. This stint helped him a lot in setting up the company SoftKey.
On winding up SoftKey for $4.2 billion, he invested the money in different ventures thereby earning rich dividends.
Kevin O’Leary is bidding to become the leader of the Conservative Party of Canada and run for the President ship. The party will make its decision in May 2017.
With a temperament very similar to that of Trump, he can forge a good understanding with the US President in case O’Leary does manage to become the President. This same trait can also cause his downfall because of the natural dislike of the people towards the policies of Donald Trump. They might not risk having a second Trump in the area. However, you never know what can happen. No one expected Trump to win either.