Most Talked-About Controversies Linked to Kevin O'Leary

Public opinion and media debates around Kevin O'Leary—discover key moments of controversy.

Kevin O'Leary, a.k.a. Mr. Wonderful, is a Canadian businessman and television personality. He gained prominence through appearances on Canadian shows like *The Lang and O'Leary Exchange* and *Dragons' Den*. He hosted Discovery Channel's *Project Earth* and has been a mainstay on *Shark Tank* since 2009. O'Leary also ventured into acting, debuting in the film *Marty Supreme*.

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Full Timeline Early Life & Education Career & Achievements Controversies & Scandals

1999: Acquisition by Mattel and Subsequent Termination

In 1999, Mattel acquired The Learning Company (formerly SoftKey), resulting in significant losses. Kevin O'Leary was subsequently fired by Mattel. The sale netted O'Leary around six million dollars, but also led to shareholder lawsuits.

1999: Mattel Acquires TLC; O'Leary Fired

In 1999, The Learning Company (TLC) was acquired by Mattel for US$4.2 billion. Following the acquisition, sales and earnings for Mattel soon dropped, and O'Leary was fired. Mattel's shareholders later filed a class-action lawsuit accusing Mattel executives, O'Leary, and former TLC CEO Michael Perik of misleading investors.

2003: Settlement of Shareholder Lawsuit

In 2003, Mattel paid $122 million to settle a class-action lawsuit filed by its shareholders, who accused Mattel executives, Kevin O'Leary, and former TLC CEO Michael Perik of misleading investors about the health of The Learning Company and the benefits of its acquisition. O'Leary disputed all charges.

May 2005: Wrongful Dismissal Lawsuit Filed

In May 2005, Reza Satchu and Wheeler, Kevin O'Leary's operating partner, filed a $10-million wrongful dismissal lawsuit, charging that they had altered an agreed-upon compensation deal and illegally reduced Wheeler's share of the profits. The case was later settled out of court.

2011: Controversy on The Lang & O'Leary Exchange

During a 2011 segment on The Lang & O'Leary Exchange, Kevin O'Leary criticized journalist Chris Hedges, leading to Hedges' refusal to appear on the show again and a CBC ombudsman finding O'Leary's behavior a violation of journalistic standards.

November 2014: Penalties for Securities Act Violations

In November 2014, O'Leary Funds Management agreed to pay penalties to the Autorité des marchés financiers for violating certain technical provisions of the Securities Act.

February 1, 2017: Controversy over gun range video

On February 1, 2017, Kevin O'Leary posted a video of himself shooting at a Miami gun range, which was removed from Facebook and drew criticism due to its timing coinciding with the funeral for victims of the Quebec City mosque shooting. O'Leary later apologized.

August 24, 2019: Involvement in a fatal boat crash

On August 24, 2019, Kevin O'Leary and his wife Linda were involved in a fatal boat crash on Lake Joseph in Muskoka, Ontario, resulting in the deaths of two people on the other boat. Linda was allegedly operating the O'Leary's boat at the time.

August 2021: Ownership Stake in FTX and Spokesperson Role

In August 2021, it was announced that Kevin O'Leary would take an ownership stake in the parent companies of FTX.com and FTX.US as part of his compensation for becoming a "spokesperson and ambassador" for FTX.

September 14, 2021: Linda O'Leary found not guilty

On September 14, 2021, Linda O'Leary was found not guilty of careless operation of a vessel in relation to the 2019 fatal boat crash on Lake Joseph.

November 2022: Class-Action Lawsuit Against O'Leary for FTX Promotion

In November 2022, Kevin O'Leary, along with other spokespeople for FTX, was sued in a class-action lawsuit following FTX's bankruptcy due to CEO Sam Bankman-Fried secretly using client funds. O'Leary claimed he lost $9.7 million in digital assets and a further million dollars' worth of equity after the company's insolvency.