'Shark Tank' Investor Kevin O’Leary Has a 'Wonderful' Net Worth
Kevin O’Leary, the mega-millionaire also known as “Mr. Wonderful” from Shark Tank, was rich long before the TV show first aired in 2009. He’s been a business owner since the 1980s, and his track record makes it clear why he was selected as an original investor on the series.
Despite his decades of success—and a net worth that could last him many lifetimes—O’Leary is more dedicated to work than ever. “I don’t need more money,” he told CNBC Make It. “I just want to do the things in my life that I want to do, and money allows me to do that.”
Here’s a look at how Mr. Wonderful made his millions and became the face (and personality) we know so well.
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How did Kevin O'Leary get rich?
As his website reads, “Kevin O'Leary's success story starts where most entrepreneurs begin: with a big idea and zero cash.” In 1986, he founded Softkey Software Products, the company that launched his career—and net worth—into the stratosphere.
Throughout the ‘90s, Softkey knocked out its major competitors by acquiring them, the sort of cutthroat business strategy Shark Tank viewers might expect from O’Leary. "Here's how I think of my money: as soldiers. I send them out to war everyday. I want them to take prisoners and come home, so there's more of them,” he said.
His company garnered such a reputation that it sold to Mattel for $4.2 billion in ‘99.
O’Leary went on to found more companies, such as Storage Now, O’Leary Fine Wines and O’Leary Ventures, and he invests in many more. He’s also the bestselling author of Cold Hard Truth on Men, Women & Money and two other books.
What is Kevin O'Leary's net worth?
Kevin O’Leary has an estimated net worth of $400 million in 2023.
Related: Barbara Corcoran's Net Worth in 2023 Is Fit for a Real-Estate Queen
What companies does Kevin O'Leary own?
O’Leary owns several companies he’s founded himself, including O’Leary Fine Wines, an award-winning wine label, and O’Leary Ventures, his private venture capital investment company.
What are Kevin O'Leary's investments?
Like other Shark Tank cast members, O’Leary has a rich portfolio of investments. According to his website, these include Basepaws, a cat DNA-testing company, BenjiLock, a rechargeable and fingerprint-accessible padlock, and 20-plus additional investments. The website Sharkalytics says he’s made 40 deals across 131 episodes of Shark Tank.
How did Kevin O'Leary become Mr. Wonderful?
O’Leary is part of the original cast of Shark Tank, along with Barbara Corcoran, Daymond John, Robert Herjavec and Kevin Harrington. And as it turns out, his famous nickname, “Mr. Wonderful,” can be tracked all the way back to that first season.
He told Boston Magazine, “In season one, someone was trying to sell a publishing deal to us for music and I proposed an aggressive 51% equity position because I wanted control of the business. And Barbara [Corcoran] said, 'Well aren’t you Mr. Wonderful?' and I said, 'You know what Barbara, I am!'”
It’s no surprise to seasoned fans that the nickname is a sarcastic comment on O’Leary’s TV persona, which is often criticized as too harsh or downright mean. For his part, O’Leary has said he’s simply “testing the mettle” of entrepreneurs that come on the show.
“Maybe people think I'm bullying them. That's not true. I'm the only guy there who tells the truth all the time,” he told Business Insider. “I don't care about your feelings; I care about your money.”
Related: Find Out Daymond John's Enormous Net Worth in 2023
What is Kevin O'Leary's best Shark Tank investment?
O’Leary has made many successful investments on Shark Tank. One of the biggest was his investment in Plated, a meal-delivery-kit company. Its founders originally appeared on Shark Tank in 2014, and although their deal with Mark Cuban fell through, they later came to an agreement with O’Leary. After Plated sold to Albertsons Companies for $300 million, O’Leary saw a 1,346% return.
“These guys are a classic Shark Tank story—excellent in executional skills and marketing logistics,” O’Leary said.
Other successful deals include his $75,000 investment in Wicked Good Cupcakes, which reached $10 million in sales within three years. He also put $75,000 into Groovebook, which sold to Shutterfly for $14.5 million less than a year later.
Interestingly, O’Leary told CNBC Make It that he’s had more successes than losses, and that one statistic stands out. “This is real data: 75% of my returns have come from companies run by women,” he said.
What is Kevin O'Leary's worst Shark Tank investment?
Not every Shark Tank deal is a winner. “What I’ve learned after doing this a long time [is] no matter how you feel, and how optimistic you are, in the moment of making an investment, pulling the trigger, you have no idea of the outcome,” O’Leary said to CNBC Make It.
He won’t name his worst investment for legal reasons, but reveals he lost $500,000 on it.
“You put $250,000 on a deal. And then the guy calls you up four months later saying, ‘Look, I burned through all the cash. But I know what I did wrong. I need another [$250,000],’” O’Leary recalled. “My gut said ‘No.’ But because I knew the guy and I liked him, and he was a friend, and yada, yada, yada ... I gave him another [$250,000].”
Needless to say, that money went down the drain in much the same fashion, and O’Leary was out half a million dollars. “The lesson is: Listen to your gut, because that is your experience [talking],” he said.
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What does Kevin O'Leary make per episode of Shark Tank?
Variety reported in 2016 that the sharks each make $50,000 per episode of Shark Tank. However, given the show’s continued success years later, it’s likely O’Leary and the rest of the cast command higher TV salaries today.
Is Kevin O'Leary the richest Shark?
Kevin O’Leary has a track record of winning, but he does have to settle for second-best when it comes to the richest Shark Tank investor. That title goes to Dallas Mavericks owner Mark Cuban, who is worth an impressive $5.1 billion, according to Forbes.
