"Been stealing and cheating for 21 years"— Shark Tank's Kevin O'Leary slams China for allegedly wiping out millions of small American businesses

Shark Tank investor Kevin O’Leary has criticized China’s economic practices. In an April 15 Instagram post, Kevin commented on the country’s history of alleged intellectual property theft, claiming that startups in other nations often have their ideas stolen once they hit $5 million in sales.

Kevin accused China of "stealing and cheating for 21 years," and blamed the country for the destruction of millions of small American businesses. Although he felt like he was just one voice, he believed his message was starting to gain attention— and that the situation demanded urgent and decisive action.

"We're three weeks and four days into this narrative. That's nothing in the context of what we're trying to solve. They've been stealing and cheating for 21 years," he said about China.

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Shark Tank investor Kevin O’Leary urges people to take action against China's IP theft

In the Instagram post, Shark Tank star Kevin O’Leary claimed that while it had been just three weeks since China's IP theft threat was brought to attention, the country had been practicing such economic practices for years.

Further emphasizing the weight of the situation, Kevin noted that China had been stealing and cheating from other countries for over 21 years. He also criticized past US administrations and European governments for being too lenient with China's practices and being afraid of making them mad.

However, the Shark Tank star expressed a glimmer of hope, noting that most of the current administrations, including the Europeans and all the other American administrations, were concerned about the situation.

"We're finally getting administration, including the Europeans and all the other American administrations, since the beginning of time that always were complacent with China saying, 'Ohh, let's not make them mad'," he said.

Kevin noted that he was not afraid of making China's government mad as he was determined to solve the issue. Being one of the entrepreneurs who did business in the country, he claimed that China wiped out millions of American companies that got to 5 million in sales, by ripping off their IP.

"You want to keep this going? You want to start entrepreneurship? Let a family build a business and have China wipe it out cause they didn't have to pay for any of the IP? I think I'm done with that," he continued.

After expressing his frustration over the situation, the Shark Tank star emphasized that while he was currently alone, raising his voice, he felt that the narrative was getting some traction and resonating with others. He asked people not to put up with such practice and urged them to take action.

Kevin further contrasted himself with fellow investor Bill Ackman. While both are investors, he pointed out that Bill operated in large-scale investing and didn't represent small business owners like him.

The Shark Tank star highlighted that 62% of the American jobs came from small companies that had 5 to 500 employees, and he felt responsible for advocating for them. He added that most small business owners around the world were angry, and he was just representing them.

Kevin further acknowledged the White House's recent attention to the IP theft situation, calling it a positive step. He felt a bit relieved as he believed that he would soon have an army of like-minded people behind him.

"62% of jobs in America are created companies 5 to 500 employees. I am their advocate and we're pisssed, okay? So we finally got somebody in the White House saying what about this IP theft? I'm just speaking on behalf of every small entrepreneur in America and I think I have my army behind me. I'm okay with it," he concluded.

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Shark Tank season 16 episodes air every Friday on ABC.