On April 10, 2025, during an Instagram reel, Kevin O’Leary, the prominent Shark Tank investor and businessman from Canada, shared his insights on the nation’s economic landscape. This conversation took place during an interview with journalist Daniela Cambone on The Daniela Cambone Show.
Concerns About Canada’s Economic Growth
O’Leary expressed his alarm regarding Canada’s sluggish economic performance over the last decade, highlighting a mere 1.4% growth throughout this time frame.
“It’s so unfortunate for Canada,” he lamented.
In a more detailed caption accompanying the reel, he elaborated:
“We actually only grew 1.4% in a decade. Not per year, in the whole decade. No one has ever done that, ever before, to Canada,” he asserted.
Criticism of Leadership and Policy Direction
During the interview, O’Leary did not hold back in his critique of former Prime Minister Justin Trudeau and his administration. He indicated that the existing governmental policies were jeopardizing Canada’s economic future. His focus was particularly directed at the government’s commitment to a green agenda, which he argued is coupled with insufficient energy and development strategies.
“We have just been slaughtered with bad management. It’s so depressing to look at the numbers,” he explained.
O’Leary clarified that the 1.4% growth statistic spanned the entire decade, emphasizing the gravity of the situation. He further described Trudeau disparagingly:
“Trudeau is an empty suit. He was the idiot king. Butts did all the policy, along with Telfer,” he remarked.
He identified Gerald Butts and Katie Telfer as the leading architects behind the policy framework, specifically criticizing the emphasis on transitioning to a green economy. O’Leary pointed out that Butts is “hell-bent” on reshaping Canada into a green utopia, which he believes includes neglecting critical energy resources and infrastructure.
“The numbers don’t lie. This isn’t emotional,”he stated, reinforcing his argument with data rather than sentiment.
This interview has sparked broader discussions among the public and in media regarding the direction of Canada’s developmental strategies and governmental effectiveness.
Trudeau’s Potential Resignation and O’Leary’s Ongoing Critique
Following his criticisms, Trudeau announced on January 6, 2025, that he would step down after a new Liberal Party leader is elected. In a separate interview with BNN Bloomberg in January, O’Leary did not hold back on his views regarding Trudeau and Finance Minister Chrystia Freeland.
“I mean no disrespect, but I wouldn’t let them run a bodega. They don’t know what they’re doing,” he stated.
O’Leary also questioned Freeland’s credentials:
“I want to respect Freeland because she is the finance minister. But I don’t know why she’s the finance minister. She has no experience at this,” he noted.
He argued that the government’s recent policy changes, such as the capital gains tax increase, could significantly harm Canada’s competitive edge, potentially leading to a loss of business investment and corporate relocation. In a December 2024 CBC News interview, O’Leary characterized the economy as being in a state of “free fall,” attributing this crisis to longstanding issues in natural resource management and fiscal policy.
Stay tuned for the latest episodes of Shark Tank, which are currently available for streaming on ABC.