The Canadian business tycoon and television presenter, Kevin O’Leary, comes across many crazy business ideas on his show Shark Tank. As per his experience in the field of finance, he invests and fortunately gets a satisfactory return. But recently in an episode of the ‘imPaulsive Clips’ podcast, Mr. wonderful reflected on one crazy failed deal that would have given him an opportunity of making $800 million.

A few years ago in an episode of the TV show, ‘The Shark Tank’, the 67-year-old came across legendary entrepreneur, Jamie Siminoff, who was the founder of Ring. After failing to get a deal on Shark Tank, he eventually sold his company to Amazon for $1 billion. Miraculously, Siminoff returned to Shark Tank, but this time as a judge on season 10 of the cut throat show.

According to Leary, he came up with an idea and everyone on the forum was impressed with him. Siminoff wanted $600k for his business plan. But Leary put forth another proposal, which the entrepreneur denied without hesitating too much.

Leary told, “I really like you and I’ll give you the six hundred thousand dollars as a loan for three years not an outrageous interest but I want two and a half percent of the company I want some warrants and I want some advisor shares and but then you’ll get a shark tank deal. I’ll give you 600,000. He says no. I said you really should think about that he said nah, I’m not going to think about it. So I would have made about $800million.”

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The two eventually became friends because of the show, and every year when they meet for a grand celebration, Siminoff grinds Leary for missing out on the lucrative deal.

Why did Kevin O’Leary opt out of paying $600k?

The difference of opinion on the crazy business idea prevented O’ Leary from coming to a deal. According to Leary, Siminoff was scared of debt and he was asking for certainty.

Though he tried to convince him, it all went in vain. As of now, Leary could kick himself for turning down that idea.

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What do you think of Leary’s opinion on investing in this crazy deal? Let us know in the comments below.