Kevin O'Leary Net Worth 2018: Is He Really As Rich As He Claims?

Kevin O'Leary net worth, Kevin O'Leary, Kevin O'Leary net worth 2018, Kevin O'Leary salary, Net Worth, Kevin O'Leary

The Squander Staff
Kevin O'Leary net worth 2018

Kevin O'Leary maybe best known for his appearances on Shark Tank and his investment style, but he has been a well-known figure in the business world for decades.

O'Leary made a name for himself by founding and building companies all over the world.

So how did Kevin O'Leary become so rich? What is Kevin O'Leary's net worth in 2018? What does he make every year? Read on...

Kevin O'Leary Career, Earnings, Salary

Kevin O'Leary was the son of a small business owner and investor.

As a child, he watched his father build and run a small business, until he he passed away.

After his father passed away, O'Leary's mother took over their family business, and she ran it for decades, while she also carefully invested money into the stock market.

Although the O'Leary's didn't have a huge family fortune, much of their fortune was the result of smart investing on his mother's part.

Kevin O'Leary got started in business when he ended up doing an MBA in Canada after he graduated from college.

His first real job was at a cat food company, where he acted as a brand manager.

O'Leary only did that job for a short while, before he went on to start a media company, with some of his close friends from business school.

In the early 1980s, O'Leary and his classmates started a company called Special Event Television.

The company made TV shows about sports, which were distributed by other media companies. That company didn't do particularly well, and O'Leary left the company within a few years.

But Kevin O'Leary's biggest stepping stone to success was likely a company name Softkey.

O'Leary started SoftKey after being bought out at Special Event Television.

After looking around for investors, he ended up having to beg his mother to lend him $10,000 in addition to his own savings in order to get started with the company.

O'Leary made the company successful by getting the software bundled with hardware products, thereby ensuring that and users all over the world would be using his software.

In fact, much of the software that O'Leary distributed was in his at all - it was freeware which he merely put on CDs as an added value.

The company benefited significantly from the early computer and Internet boom, and it began to grow very rapidly.

However as competitors moved in, the company started to falter. In fact, according to The Globe and Mail, by 1993, it was taking a loss of $60 million a year.

In a bold move, O'Leary decided to spend $600 million to do a hostile takeover of another company, The Learning Company, and change the direction of Softkey.

The Learning Company was an educational software business, and it quickly bought another company called Broderbund, which produced well-known games and productivity software like Printshop, and Where in the World Is Carmen San Diego.

By acquiring all of these other businesses, O'Leary built a conglomerate made up of several smaller companies, which he named The Learning Company.

Nevertheless, O'Leary's company never did particularly well after the acquisitions, and it ended up with several hundred million dollar losses every year.

At one point, the company had to be bailed out by Bain Capital, which tried to change the management, to little success.

Eventually, O'Leary had to sell the company to Mattel for $3-$4 billion (depending on how you look at the deal).

Given that the company was publicly traded, and had significant amount of public investment, O'Leary didn't make a huge amount of money on the sale (approximately $6 million), but he got a $650,000 salary from Mattel plus a $5 million severance.

Mattel, meanwhile, took a huge hit from purchasing the company and suffered significant losses in the future.

Making Money From Failure

After selling The Learning Company/Softkey, Kevin O'Leary went onto build several different ventures. At one point, he tried to purchase the Atari company. He then tried to start a TV channel about video games, but neither ventures worked out.

O'Leary then went on to invest in a company called StorageNow. According to reports, he gave $500,000 for 13%.

He got into a dispute with the founder of the company, and a major lawsuit followed.

Although O'Leary had a potential profit of several million from the business, a significant amount was lost in legal proceedings. In the end, he walked away with around $4.5 million.

His later projects included a wine company, a mortgage company, and a book publisher. None of them did particularly well.

Another company that O'Leary started, was called O'Leary Funds. That company started off with $400 million under management, and grew quickly.

But according to McLeans, it had lots of problems. It was mired in lawsuits, and had many rounds of layoffs. The company raised nearly a billion dollars, even though it started to perform terribly.

O'Leary Funds lost a lot of assets, as investors fled the underperforming company. It was sold in 2016. According to McLeans, the sale price was $13.7 million immediately, with a performance bonus of up to $8 million.

O'Leary still runs an ETF company, called O'Shares, which sells Exchange Traded Funds that are supposed to track certain target indices. O'Leary also sells gold. It's not clear how much money O'Leary makes from these businesses.

Kevin O'Leary Net Worth 2018: How Much Money Does Kevin O'Leary Have?

So how much money does Kevin O'Leary have? Well, many people think he's a billionaire...but he's definitely not.

Even though he has sold numerous businesses with revenues or assets in the billions, he's made only a tiny fraction of that.

As we wrote earlier, O'Leary made less than $50 million in total from the sale of his businesses. He also didn't make a particularly large amount from his investment fund, or some of his smaller ventures.

However, O'Leary has made several million from successful Shark Tank businesses, and he has earned a significant salary and earnings from his work on Shark Tank and Dragon's Den.

Other stars who gained significantly in net worth from Shark Tank include Lori Greiner, whose net worth now tops $80 million.

He has also earned money through his book sales, his advisory work, and other adjunct businesses he runs.

Many estimates put Kevin O'Leary's net worth as high as half a billion dollars. However, looking at his individual businesses and investments, it appears that the number may be far lower.

From court records and other public information, it appears that the amounts that he earned from the sales of his business make up less than $50 million.

Even though he's made a significant amount investing, it's hard to imagine his net worth shooting up to $400 million or more.

In all, we estimate Kevin O'Leary net worth in 2018 at $200 million.

Wanna read more on this? Check these out: Lori Greiner Net Worth 2018: The Shark Tank Cast Member's Shocking Recent Rise In Wealth (more); Kevin O'Leary Net Worth 2018: Is He Really As Rich As He Claims? (more); Shark Tank cast -- What's the net worth of the Sharks? Updated: Sep 2018 (more); Shark Tank Cast Net Worth 2018 — It Will Boggle Your Mind! (more).

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