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Shark Tank investor Kevin O’Leary wasn’t always a Tesla fan. Before 2019, he avoided companies that didn’t deliver immediate profits. If Elon Musk had pitched Tesla on Shark Tank in its early days, O’Leary admitted he would have dismissed the idea outright. In a 2020 interview with CNBC Make It, he put it bluntly:
"If Elon Musk came into the Shark Tank and told me to invest in his electric car company before he started it, I would say, 'You're crazy.'"
But by mid-2019, his perspective shifted. That July, O’Leary bought Tesla stock. By January 2020, Tesla’s market value had skyrocketed to $100 billion, proving that his bet on the company wasn’t misplaced. By February 2025, O’Leary publicly confirmed he still held Tesla shares and continued to support Musk’s ventures.
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Shark Tank investor Kevin O’Leary changes stance on Tesla
In early 2019, O’Leary was vocal about his skepticism. He believed Tesla was overvalued and faced too much competition. But something changed later that year. His son, Trevor, landed an internship at Tesla.
Trevor worked directly with Tesla’s data systems, getting a firsthand look at the company’s tech and operations. In 2019, Trevor challenged Shark Tank investor’s perspective on Tesla, saying:
"You don't understand what Tesla is doing. I work there,"
He then explained how Tesla collected data from every vehicle on the road, building a massive database for developing autonomous driving technology. The discussion with Trevor led O'Leary to research Tesla's data collection systems. He learned about the company's neural networks that processed information from millions of miles driven by Tesla vehicles.
This technology created detailed mapping systems and improved self-driving capabilities through constant updates. O'Leary purchased Tesla shares in July 2019 when the stock traded in the $200 range. The investment showed significant returns within months as Tesla's market value increased.
By January 2020, Tesla's stock price had risen substantially, and the company achieved a $100 billion market capitalization. The growth continued through May 2020, maintaining a six-month average market value above $100 billion.
O'Leary publicly updated his Tesla investment status in February 2025. His support for Tesla expanded to include backing Musk's management strategies and business decisions.
"Am I a shareholder today in Tesla? Yes I am," O'Leary stated during a CNBC Make It segment. He added that Tesla ranked as his highest-performing stock investment.
In a Fox News interview from February 2025, Shark Tank investor supported Musk's plans to examine government spending patterns and backed the approach to fiscal management. O'Leary referenced how standard budget reviews could apply to larger government systems. He drew connections between basic financial management and broader economic strategies.
Elon Musk's Tesla journey
Tesla’s story started in 2001 when Martin Eberhard and Marc Tarpenning met Elon Musk at a Mars Society event at Stanford. At the time, Musk had his hands full with PayPal and SpaceX, so Tesla wasn’t on his radar yet. That changed in 2002 when eBay bought PayPal, leaving him with $165 million.
In 2004, Musk led Tesla’s first investment round and took a seat as board chairman. The company set up operations in Fremont, California, inside a massive 5.3 million-square-foot factory. The plant, previously run by Toyota and General Motors, came with a 1.5-mile assembly line and two paint shops.
Then came 2008. Musk took charge, and Tesla rolled out its first car, the Roadster. A high-performance electric sports car, it shattered the idea that EVs had to be slow or boring. Over the years, the company expanded its footprint with factories in the US, China, and Germany while opening 438 stores and 100 service centers worldwide.
Musk transformed Tesla from a car manufacturer into a data technology company. By January 2025, Tesla's market value reached $1.3 trillion, making it the largest automaker by market capitalization.
Shark Tank season 16 is airing on the ABC network.
