Kevin O'leary Net Worth
Facts of Kevin O'leary Net Worth
|Net worth||$400 million|
|Date of Birth:||1954 July 9|
|First Name||Terence Thomas Kevin|
|Age:||69 years old|
Terence Thomas Kevin O’Leary aka Kevin O’Leary is one of a famous Candian-Irish business, television personality, and an author. He is a co-founder of O’Leary Funds and Soft Key. He also appeared on various Canadian television shows making his net worth extremely high.
Kevin O’Leary’s net worth is over $400 million which is extremely high, people! So, how did he build up such a huge amount? What were his former steps to collect and grab $400 million? Scroll down to know everything about him right below:
How much is Kevin O’Leary’s Net Worth?
While Kevin O’Leary was studying in between the first and second years of his MBA program in 1979, he got selected for an internship at Nabisco in the downtown Toronto and worked as an assistant brand manager of Nabisco’s cat food brand.
He also credits his later success at The Learning Company that skilled his development in the marketing during his days at Nabisco. Since then, it’s been almost four decades that he has been actively working in the field.
Brace yourself, people! You know, Kevin O’Leary’s net worth is estimated to be over $400 million which is pretty impressive, right?
So how Kevin O’Leary did make $400 million?
After leaving Nabisco, O’Leary started his professional career as a television producer. He along with his two former MBA classmates, Dave Toms and Scott Mackenzie founded Special Event Television (SET).
The company only got limited success with minor shows, sports documentaries, soccer films, and professional hockey games. However, later one of his friends bought out his share of the venture for worth $25,000.
After leaving SET, he started Softkey in 1986 in a Toronto basement along with John Freeman and Gary Babcock. As a major financial backer who committed $25,000 backed out the day before signing the documents, he took the proceeds from the share of SET and told his mother to lend him $10,000.
As a result, Softkey made a tough competition from other software companies in the 1980s and it’s journey prospered out throughout the 1990s. In 1996, Softkey acquired The Learning Company (TLC) for around $606 million adopting its name.
In 1998, TLC lost $105 million on revenues $800 million. They suffered a huge loss over the previous two years and later bought it’s rival Broderbund back in June 1998 for $416 million.
In 1999, Mattel acquired TLC for around $4.3 million. After Mattel soon dropped sales and earnings, O’Leary departed him. Mattel’s purchase was one of the most disastrous acquisitions in the history. Mattel had a bad experience of $105 million loss, and the management had only projected $50 million profit.
Mattel’s shareholders filed a class-action lawsuit where O’Leary and Michael Perik was accused of misleading investors about the health of TLC and the benefit. O’Leary along with his defendants disputed the charges and Mattel had to pay around $122 million to settle the lawsuit in the year 2003.
O’Leary founded O’Leary Funds Inc in 2008 with his brother. The fund’s assets under the management which grew from $400 million to $1.2 million which is the major step that helped him to build up over $400 million net worth.
Businessmantelevision personalityauthorKevin O'learyCanadian-Irish