More about Kevin O’Leary
Kevin O’Leary was born in Montreal, Quebec, Canada on July 9, 1954. 68-year-old businessman, writer, politician and TV presenter.
O’Leary has appeared on the business news programs SqueezePlay and The Lang and O’Leary Exchange.
He has been a co-star of ABC’s Shark Tank since 2009 and is often described as a “fierce” investor.
His appearances on Dragons’ Den and Shark Tank popularized his nickname: “Mr. Wonderful.’
In addition to Shark Tank, O’Leary co-hosted the Discovery Channel television series Project Earth, which explored the financial impacts of global climate change, and is a regular contributor to CNBC.
The Entrepreneurial Spirit of Mark Cuban
ABC Shark Tank host Mark Cuban said he started making money in Pittsburgh by selling trash bags to his neighbors to buy new basketball shoes.
“My dad told me the only way to get new basketball shoes is to have a job,” he told GQ in 2019.
Speaking positively about today’s youth, Cuban wants teens to start thinking about what services they can provide to their community.
Cuban went on to suggest that those who want to get involved should sell “something they can do or a service they can offer to friends, family and neighbors.”
How are judges and participants paid?
Shark Tank investors are paid for their contributions to the show, but the money they invest is their own.
On the other hand, entrepreneurs do a handshake on the show if a panel member is interested.
However, if all members of the commission refuse to participate, the entrepreneur will leave empty-handed.
Read more about Kevin Hart’s investments
Unlike Transformation Factory, Snactiv sells products that are not edible but can be useful for those who love to eat.
Snactiv co-founders Kevin Choi and Edwin Cho came on the show looking for $200,000 for a 10 percent stake in their company, and Hart laughed throughout the presentation.
After their performance, Hart told Choi and Cho, “It’s an amazing product, I love the idea, I love the fun behind it.”
The Sharks fought when it came to offers, but ultimately the founders decided to give Hart and Lori Greiner a deal worth $200,000 for a 20 percent stake.
It is unclear how much popularity the company gained after this episode, but The Daily Meal confirmed in 2023 that it still has an active presence on Facebook and Instagram.
Kevin Hart’s Investments
One of the companies Kevin Hart showed a huge interest in on Shark Tank was The Transformation Factory, which sells an edible sea moss gel that may have health benefits.
Hart, along with fellow shark Mark Cuban, offered company founder Alexiu Gibson $600,000 for a 20% stake, which Gibson happily accepted.
During negotiations, Hart told the founder, “I truly believe that you have significant value here, and I truly believe in your growth potential, as well as in you as a business person.”
However, Hart admitted that he had already tried the product before the show due to its growing popularity on social media.
After the episode premiered, sales of the product increased, and The Palm Beach Post reported that Gibson hopes their investment will help get the product into retail stores.
More on Kevin Hart’s first appearance on Shark Tank
During his first appearance on the show, Kevin Hart spoke about his reasons for starting his first company, HartBeat Productions.
Hart stated in his video profile: “I started HartBeat Productions because I didn’t want to be a star that could just be hired.”
He continued his business endeavors by creating HartBeat Ventures following the success of HartBeat Productions, which Hart stated in his video profile is about “financial inclusion.”
At the time of publication, Hart has invested in at least 35 companies, with two notable investments coming in The Transformation Factory and Snactiv.
According to Celebrity Net Worth, the actor is worth $450 million.