Investor and "Shark Tank" star Kevin O'Leary once warned against mixing family with money, offering blunt advice on lending, borrowing and even working with in-laws.
O'Leary's Rule On Lending To In-Laws
In a May 2025 Fox News clip, O'Leary cautioned viewers to steer clear of financial entanglements with extended family. When asked about lending to in-laws, he suggested gifting money instead — but only once.
O'Leary said, "Never lend or borrow situations between in-laws. Just gift it to them. But that's the last time, it's over. It works."
Why Family Business Can Be Risky
When pressed about going into business with relatives, O'Leary doubled down. "Never a good idea," he said, stressing that successful companies require the freedom to make hard calls.
"You have to be able to fire your mother," O'Leary quipped. "Nepotism is horrible. The id**t cousin can destroy a business. It's better to hire a good manager."
According to O'Leary, family ties often make it impossible to make objective business decisions, a risk he argues can jeopardize long-term success.
US Giants Still Thrive On Family Leadership
Despite O'Leary's skepticism, many of America's biggest companies remain under strong family influence.
For example, Walmart, founded by brothers Sam Walton and Bud Walton, is still controlled by the Walton family.
Another case is Ford Motor Company, which retains family oversight through special shares, with William Clay Ford Jr. serving as executive chairman.
Other examples include Koch Industries, Comcast Corporation, Estée Lauder Companies, Dell Technologies, Nike Inc. and Panda Express, all of which maintain family-driven leadership or ownership structures.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
