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Over the years,Shark Tank’sKevin O’Leary has become rather controversial because of his views. Although the investor has become one of the most feared Sharks apart from Mark Cuban on the show, some of his statements have left fans feeling a little weary about his stances. Apart from his public advice for young couples to keep their money separate, the 70-year-old also seems to have some iffy opinions on lending money to his only relatives and family.
In fact, O’Leary might be ready to lend a helping hand to his close connections. However, he has one simple rule that he strictly follows that has come off as snobby to everyone else who has heard it.
Shark Tank’s Kevin O’Leary’s one condition on giving his family money
When most people face money troubles, they might choose to lean on their friends and family for help to stay afloat. However, forKevin O’Leary, he believes in helping out his relatives. But there is one strong condition that theShark Tankstar emphasizes. In a video onYouTube, the 70-year-old explained that he would not shy away from lending $150,000 to kin, but he would only do it once.
It’s not a loan. It’s a gift. I never want it back from you on one condition and one condition only: You never ask me for money ever again.
O’Leary would remove the stress of paying back the money that his relatives borrowed. However, he would not feel comfortable with them coming back to ask for more. The Shark also explained,“My extended family keeps getting bigger and bigger, and the more money you have, the more problems you have — that’s the bottom line.”
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The investor’s advice might seem accurate to some. But some people thought it could be a little unfair to his family members who had bigger financial woes. However, this isn’t the only advice for family that O’Leary follows.
Kevin O’Leary’s thoughts on mixing business and family
Kevin O’Leary has been known for sharing hard truths online and not mincing his words. However, his on-screen persona seeps into his real life as well. As a businessman, the 70-year-old has had to learn to keep his work life and private life apart and theShark Tankstar lives by it. In an interview withThe Street, he ended up revealing his thoughts on mixing work with family and relatives.
When you build a company around family and you have that blood tie, the hardest thing is to fire someone in your family that can’t execute. You realize that no one person is the business.
O’Leary added,“You have to make the tough decisions.”Although the Shark Tank investor made some very good points, his candid answer sent ripples through his fans. After all, many businesses in today’s world are run by families and seem to do rather well. However, no one knows what is going down behind the scenes.
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Apart from O’Leary’s business advice for young entrepreneurs who are just starting out, the businessman has also been extremely vocal about how young couples should manage their finances. Although some things that he says might not sit right with those listening, most ofthe 70-year-old’s advicehas been drawn from his own experiences.
Stream the iconicShark Tankon Hulu
Prathika Prashant
Articles Published :192
With over three years of experience in the field of writing, and a knack for storytelling, she dives into the pop culture world to provide fans with insightful updates and engaging narratives worldwide. Her articles add a dash of insightful commentary and a captivating narrative to ensure that readers get the whole story. When she is not working, you can find her browsing new music or going down a rabbit hole of old timey sitcoms and more.
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