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These Are 2 'Stupid' Ways That People Waste $15,000 Every Year, Kevin O'Leary Says: 'Are You an Idiot?' "Mr. Wonderful" doesn't mince words when it comes to saving money.

By Amanda Breen

Key Takeaways

  • Kevin O'Leary launched his business career with software company Softkey in 1986.
  • The "Shark" boasts an estimated net worth of $400 million today.

Only 44% of U.S. adults say they have enough money saved to cover a $1,000 emergency expense, a recent Bankrate survey found. And Shark Tank's Kevin O'Leary has some tough-love advice for those who want to improve their financial situations.

In a post published on social-media platform X in September, the investor and judge known as "Mr. Wonderful" revealed a couple of "stupid" ways that people spend money every year, per personal finance site GoBankingRates.

Image Credit: Michael Kovac | Getty Images

Related: Shark Tank's Kevin O'Leary: Having Dyslexia Is a 'Superpower' in Business

According to the "Shark," who boasts an estimated $400 million net worth, people "need to stop spending money on crap [they] don't need," which includes buying coffee and lunch out instead of making both at home.

In a video accompanying the post, O'Leary questions the decision to spend more than $5 on a coffee or $15 on lunch during the work day.

"What are you, an idiot?" O'Leary says. "It costs you 99 cents to make a sandwich at home and bring it with you. You start to add that up every day, it's a ton of money. Most people, particularly working in metropolitan cities, are just starting out on their job, making their first $60,000, p*ss away about $15,000 a year on stupid stuff."

Related: 'Shark Tank' Star Kevin O'Leary Says He Wants to Build a $14 Billion Oil Refinery in the U.S.: 'I Want To Do Something Big'

O'Leary, who's appeared as a Shark Tank investor since the show's 2009 debut, kicked off his business career with the launch of educational software company Softkey in 1986, per TheStreet. Barbie producer Mattel purchased Softkey for $4.2 billion in 1999.

Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

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