Kevin O’Leary, the outspoken investor known as “Mr. Wonderful” on Shark Tank, didn’t always plan on becoming a business magnate. His first love was something else entirely: photography.
Fresh out of high school, Kevin dreamed of turning his passion into a career. He even set up a lab in his basement and did everything he loved. But his father had a harsh dose of reality for him.
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“You’re not good enough and you’re going to starve to death,” his father told him bluntly. His father pushed him to go to college and get a degree, telling him not to follow his heart. This tough love turned out to be some of the best advice Kevin could have received, even though it may have felt like his aspirations were being dashed.
When I first wanted to be a photographer, my dad told me I wasn’t good enough: I would starve. So I got an MBA and eventually built and sold a company for $4.2 billion. It all came together: business, creativity, and the drive to win. I wouldn’t change a thing. photo.twitter.com/Xv8ttJFk2V
—Kevin O’Leary, aka Mr. Wonderful (@kevinolearytv) September 17, 2024
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Kevin followed his father’s advice and went to college, eventually earning an MBA. Although it wasn’t in his original plan, this degree would later prove to be a game-changer. He soon found a way to combine his passion for photography and production with his business skills, launching his first company, Special Event Television, which produced programming for hockey games on the East Coast.
That first venture set the tone for a very successful career. Kevin and his co-founders eventually sold the company, and Kevin used the money to start his next venture, a software company called Softkey, which he later sold for $4.2 billion.
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Kevin was only in his mid-30s when he decided to retire and live the kind of financially independent life most of us can only imagine. He traveled the world, visiting the most beautiful beaches and other breathtaking locations. But something unexpected happened: Despite the luxury and endless travel, he became bored. “I went to every beach on earth,” he says, but after three years, “it was really boring.”
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The excitement of creating something, taking risks and participating in the business world was something he missed. Retirement, even though it seemed like the ultimate goal, proved unsatisfying.
In addition to his father giving him tough advice, Kevin also credits his mother with giving him some of the best financial advice he’s ever received. She taught him and his brother a simple but effective lesson: “Boys, never spend the capital, only the interest.” Although he didn’t fully understand it at the time, this lesson has guided him throughout his life and career.
Kevin O’Leary’s life story shows that success usually does not follow a straight line, but often involves following difficult-to-understand advice.
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This article Kevin O’Leary’s Father Warned Him He’d ‘Starve’ If He Pursued His Passion. Getting an MBA Ultimately Changed His Life originally appeared on Benzinga.com
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