“You get to do due diligence:” Shark Tank investor Kevin O’Leary shares behind the scene details of the show

Shark Tank investor Kevin O'Leary, also known as Mr. Wonderful, is the founder of O'Leary Financial Group and O'Leary Fine Wines. During his time on the ABC show, Kevin has helped aspiring entrepreneurs and new business owners assess whether their strategies and plans can be sustained in the long run. He has signed various deals and invested in many businesses.

O'Leary appeared on the Full Send Podcast on September 20, 2024, where he discussed what happens off-camera while the sharks film for the show.

In his interview, Kevin shared that after the pitch airs, there is a "long-form negotiation" after the deal is confirmed that happens behind the scenes. He stated that during their pitches people might "say things" just in front of the camera:

"You get to do due diligence. People say things in front of the camera and the lights, in the moment. And I don't blame them for trying to pitch themselves in the best light they can, they've been practicing for months in front of a mirror. But nothing is the same when you walk out there."

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Shark Tank investor Kevin O'Leary talks about the serendipitous nature of the show

Mr. Wonderful shared that there are twenty-six cameras rolling on the sets of the reality TV series. Over the course of sixteen years, Kevin has seen "crazy sh*t" happen with business owners refusing to leave without getting a deal and some of them even passing out. He stated that people "go nuts" when none of the sharks are ready to invest in their business and back out.

The Shark Tank investor shared details of what happens behind the scenes:

"The twenty-six cameras are rolling, and the sharks are up there, there's a billion dollars in front of you and this is your moment. This is it. I have seen crazy sh*t happen, like people pass out.

Kevin further mentioned:

"They go nuts when they don't get a deal. I have seen it all, I mean I have seen thousands of pitches over 16 years."

Kevin also talked about the "unique" and "unusual" aspects of the reality TV series, as he felt he could not predict which deal would cost him millions of dollars. The Shark Tank investor shared that the pitch he thought was "a funny TV deal" ended up giving him a lot of profit, Kevin said:

"I'll do ten, twelve deals in a show, I'm shooting it right now, we're all sitting in LA, I'm shooting it. And the ones that I think are the very best, turn out to be dog sh*t. And the ones that I think are ah this is just a funny TV deal, I make millions off. You just don't know. It's so serendipitous, so unusual, so unique."

Shark Tank fans can follow Kevin on his official Instagram account to stay updated with the financial and business lessons and advice he shares. All previous episodes of the reality TV series are available to stream on ABC.