Kevin O'Leary Takes SVB's Collapse As A Promotion Opportunity? Observers Clap Back

Kevin O'Leary, the well-known entrepreneur, investor, and television personality, is not one to shy away from self-promotion. From his regular appearances on "Shark Tank" to his frequent media appearances, O'Leary has built a reputation as a savvy and promotional businessman.

Though his latest promotion upset some investors.

What Happened: In the wake of the collapse of the Silicon Valley Bank SIVB, the second-largest bank collapse in U.S. history, O'Leary took to Twitter to promote a company he is invested in.

Under the tweet, O’Leary disclosed that he is a paid spokesperson for Startengine Crowdfunding Inc STGC, where he earns $400,000 per year for the first three years, then $420,000 in year four, $450,000 in year five, and $480,000 in year six.

O’Leary was also paid roughly $15 million to be a spokesperson for failed crypto exchange FTX, something one of his Twitter followers was quick to bring up.

The investor also received compensation from StartEngine in the form of 322,506 options at a $7.50 strike price and 343,282 options at a $40.50 strike price.

In a separate tweet, O'Leary offered his opinion on what happened with SVB, saying that the "combination of a negligent board of directors [at] SVB with idiot management is the potent cocktail that led to a disastrous outcome," adding that the takeaway for depositors who almost lost their money is to "never put more than 20% of your liquid assets in any one financial institution!"

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