Powerball Warning From Kevin O'Leary of 'Shark Tank' | TMZ Live

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Powerball Warning From Kevin O'Leary of 'Shark Tank' | TMZ Live

Kevin O'Leary has some advice and some warnings for the potential winners of the HUGE Powerball jackpot. SUBSCRIBE: About TMZ Live: Subscribe to the TMZLive YouTube channel for new clips Monday-Friday at 1pm, 3pm, 6pm (PST). TMZ Live blends elements of the TMZ website with TV for a global conversation that starts in the newsroom and involves viewers from all over the world via skype, phone and twitter. Join Harvey Levin, Charles Latibeaudiere and the rest of the TMZ staff as hot topics and breaking news are argued. Celebrities come in to talk about breaking stories, especially those in which they are involved. Want to be on TMZ Live? Call: (855) TMZ-LIVE Facebook Message: @TMZLive Skype: skypetmzlive@tmz.com Need More TMZ LIVE? TMZ Live Website: po.st/TMZLiveWebsite LIKE TMZ Live on Facebook! FOLLOW TMZ Live on Twitter! FOLLOW TMZ Live on Instagram! TMZ on TV & TMZ Sports on FS1 Tune In Info: TMZ is on iOS! TMZ is on Android! Got a Tip? Contact TMZ: Check out TMZ, TMZ Sports and toofab! TMZ: po.st/TMZWebsite Subscribe! TMZ: TMZ Sports: Subscribe! TMZ Sports: Toofab: Subscribe! toofab: Powerball Warning From Kevin O'Leary of 'Shark Tank' | TMZ Live

Comments to the video: Powerball Warning From Kevin O'Leary of 'Shark Tank' | TMZ Live

Mr Trickster 1 day ago
Americans r stupid as fk. If the jackpot is 1.6 billion why the fk would u only walk away with 400m
Purifier Phoenix The Mecca 6 days ago
who in their rightful fucking mind would take the lump sum.. You're losing $400 million on the spot. I rather take the 30 year plan and make the 26-27 mill a year with the added bonuses of interest build up.
Oliver Astudillo 9 days ago
Gracias a dios muy bien mucho trabajo
Tina Iverson 11 days ago
Hey Kevin, if you give me one million dollars, I will never call you! ;)
Organic Spiritual Tech:OST Deep Tranzitionz 14 days ago
I would say nothing. And be a real G. And move be and live in silence. Get a nice comfortable living put my money several acts and move to a poor country. To do me and stay to myself. I ain’t donating shit to no one. Everyone abandoned me and left me for dead so if they call they getting the silent treatment.
Snacky McGoo 15 days ago
I don't follow Mr. Oleary's math. $1,600,000,000 = $800,000,000 cash value = $400,000,000 after tax x 4% bonds = $16,000,000 per year = $1,333,333 per month = $600,000 after annual income tax. Yet he says $166,000 per month. And TMZ host agrees and says I thought so. What am I missing?
Snacky McGoo 11 days ago
+David Brown Govt bonds perhaps, but not AAA corporate bonds. And not only that, there aren't any govt bonds paying 4%. So that only leaves AAA corporate which do have taxes.
David Brown 12 days ago
Snacky McGoo You’re correct he’s wrong.but you’re incorrect on the income tax. Bonds are tax free.
Moe Trill 16 days ago
Ya exactly u all would need a white bitch to tell u what to do lol
Dr Soul 17 days ago
There's only 1 good thing about the lottery, proves there's no such thing as a psychic
Tibor Vari 18 days ago
Hey Kevin 4% of 400 million is 16 million so your math that says it is 1.6 million is wrong. How did you make it so far with these skills. Hire somebody that can do math.
Teray Jones 18 days ago
Those numbers are completely false
kodak tae 18 days ago
My mf guy Kev 😂
Alex 18 days ago
wanna know who plays the lottery? Poor people!
Central Group 18 days ago
Those are Powerball tickets not Mega Millions Kevin
Kevin Law 18 days ago
As of today, there were 5.3 million views on this video. The odds of winning the Powerball are 1 in 292 million. Statistically speaking, nobody who watched (or ever will watch) this video will not now, or ever win the lottery. The best advice? Stop dreaming and live in reality - the lottery is for suckers
clifford yawn 19 days ago
No no no you buy gold, railroad cars, tobacco stock, marijuana stores in Colorado and a bunch of payday loan stores and finance companies.
Koyalukar Sonisoni 11 days ago
Ur phone number plllsssssssss
James Bond 19 days ago
The odds of you winning megamillions or powerball jackpot is about the same as someone choosing someone in the entire United States at random, and you being chosen. Think about that. I was at a ceremony where there was like 100 people and they had like 10 drawings for different items. I STILL didn't fucking win. But I'm going to win 1 drawing with a pool of 300 million people? Ok.
Layne Landon 19 days ago
Believe it or not you could go broke within a few years if you get stupid with that kinda money. Like blowing it on ridiculous (better than nice) cars and boats, and clothes. I’m broke as shit and will probably never see that much money in one place but. if I ever did I’d have to say I think the biggest and most important rule of all would be just staying your humble self and don’t go out flaunting. Take care of yourself and your absolute closest loved ones that have stuck by your side all your life and just live happily and comfortably with them.
Layne Landon 19 days ago
Ps a nice house and land is never a bad investment. But the value of cars and all that shit will deprecate as soon as you drive them off the lot, and every mile you put on them from there
omar perez 19 days ago
I would invest in real estate buying apartment complexes
Justin Smith 19 days ago
Wrong u take what u get after taxes and lock it in a safe
timothy chung 20 days ago
Still good pocket change? He is a Canadian that was in the Canadian show called the dragons den that started the formatted show. That is 1/2 of his asset. He is an idiot. The Dragon's Den is a way better show. They have people with better business advice than this show.
Jazz Jazzy 20 days ago
Love it.
Neil Patrick Choad 20 days ago
I don't understand where he got 166,000 / month???????
Cognizent1 20 days ago
I always wonder if all these people are compensated by the Powerball Commission, because every investment advisor will tell you that lottery tickets are the worst investment imaginable.
fuckerupper 20 days ago
Waste of money. Lol
Wally Dones 20 days ago
i love that guy kevin he is a prick but he is REAL AND thats what i like!
Neon Knight Rider 20 days ago
It's not 50%, More like 35%
tyler bonser 20 days ago
So reinvest it and make 1.4 million a year or spend 10 million a year for the next 40 years.
Dhel of the Zhangkani 20 days ago
Love how brutally honest he is.
David Hamilton 20 days ago
From my perspective, what's insane is US Tax laws when it comes to Lotteries. In Australia, we can keep that 1.6 billion, or whatever figure it'd be, and if we theoretically also paid 50% tax on the interest it accrued in 12 months, we'd still have quite a small fortune in after tax profit to roll over to the initial 1.6 billion. That aside, our Powerball will never reach those staggering amounts, so, purely as an exercise, let's imagine that it did. Even proposing one invested it at a paltry interest rate of 5%, on a term deposit account, the accrued interest after 12 months would be $80,000,000. 50% tax applied is $40,000,000. The remaining 40 mil is then rolled over to the 1.6 billion capital invested. In the States, Uncle Samuel is cleaning up big time every week off the backs of US lottery winners. Double dipping?, nah, more like triple dipping. Even if US winners commute it to an annuity, I daresay Uncle Sam will invest it in other ventures at a high interest rate, then each 12 months, slugging the recipient the usual rate of tax as well. Perhaps someone could clarify that end to it, as I'm not totally au fait with US tax policy on annuities in regard to lottery wins, or if in that case, a lower percentage rate is applied. That said however, it'd need to take a colossal big win for the eventual winner taking the reduced lump sum, to not really give a toss as to how much their least favorite Uncle has ripped them off, as what they're left with, should be more than enough to satisfy them. But I guess it's the way these taxes are implemented, so that with far lesser wins, it has to irk the individual, that is left holding a bag that has virtually been got at by the IRS, before the winner even spends a dime. Man that has to suck.
Justin Wolf 20 days ago
Im happy when I win $10 from a $1 scratcher. 100% profit. And thats the most I'll ever spend a month on the lottery lol. Only disgusting greedy people want a billion dollars, no one needs that.
Icarus 20 days ago
He wants you to Not stay anonymous so they (the 0.001%) can send their cavalry after you and watch the entrainment as they tear your life apart. You definitely want to stay anonymous if you win.
Tyler Nolan 20 days ago
Why does Kev speak in terms of Billions when his networth hasn't even reached 1B?!
Jeff Lott 20 days ago
Man that guy is a douchebag. This guy was either bullied growin up or he's got a little d*ck. Walks around with that stupid f*ckin smirk on his face and has that attitude that he's better than everyone.
Mark Williams 21 days ago
Keven is an idiot. Can’t even do math.
BBFoxx 21 days ago
Powerball ?? 1.6bill was the mega million
CannedHam6 21 days ago
His math is all jacked up. If you have 400M and you can only put 250K in each institution and be insured that means you need to spread you money into 1600 banks, not 3.
CannedHam6 19 days ago
+Neil Patrick Choad FDIC insurance for deposit accounts, covers bank failures.
Neil Patrick Choad 19 days ago
What does it mean that they can only guarantee 250k??
Neil Patrick Choad 19 days ago
I don't understand where he got 166,000 / month???????
sandwichtube 21 days ago
A $100,000 in savings is $3,000 per year in yearly retirement income. Due to inflation it will seem like nothing. That’s why you can’t get tied up in debt and cars.
djkaye youtube 21 days ago
$400million isn’t enough to appear on shark tank - people have appeared with as low as $40million. Besides Kevin doesn’t have more than $400million
Vane Bro 21 days ago
Why would you be considered with making more money when you have 400 mil? How in earth would you go bankrupt?! Its 400 mil not 4!? Im living ok on a couple of hundred bucks a month and we're talking about 400 mil
dan lam 21 days ago
High tax for the jackpot is better than the tax on worker income.
thomas moloian 21 days ago
i've never won the big one and most likely won't but i've tried
أحمد عبد 21 days ago
Non of you peasants are going to win, so you can stop fantasizing now😂
Alex Rod 21 days ago
It's sad no one warned him how stupid blue tooth ear pieces are
Alex Rod 21 days ago
Give me your money -o'leary
nothing to see here 21 days ago
I still don't believe people would call me if I won.
Elijah Emeruwa 21 days ago
Wow. funny to think this exact same scenario just occurred a couple of weeks ago
Mashu Falama 21 days ago
Id buy myself a beautiful house live normally and never tell nobody but my sibbnlings and mom and dad
Eber Silv 21 days ago
400 million at 4% gives u 16 million a year before taxes, He is so out of numbers, He needs a calculator.
Neil Patrick Choad 19 days ago
I don't understand where he got 166,000 / month???????
NO WAIST 21 days ago
Bye a house
studybug2010 21 days ago
Wrong wrong wrong..never sign your lottery ticket in your own name. immediately upon winning open whats known as a irrevocable trust fund. YOU CAN STAY ANONYMOUS!! and so wise to do so..!!! You winnings are still yours.but the difference is your name stays out of it and the ticket (your ticket) is signed by the trust fund (your trust fund).all yours.stays yours.
D Anton 21 days ago
$400 000 000 x 4% = $16 000 000 interest per year ÷ 12 months = $1.333 million per month minus the tax. Where is O'Leary getting his numbers? Perhaps he's been drinking too much of his Chardonnay.
Neil Patrick Choad 19 days ago
He's retarded
Mure242 21 days ago
O'leary is the definition of sin, don't listen to the illuminati financee (one of them). He knows he's not going to win, confirms its entertainment. Filth spewing filth.
ComebackShane 21 days ago
Kinda weird has Kevin O'Leary has more money than he can spend, but never enjoys it, just always working to make more that he can't spend in a lifetime..(screw that) I'd buy a island and have a few full time chicks that know how to give massage with happy endings..and knows how do bring a drink every time.running low..BAHAHAHAHAHAAAAA
Luis Prado 21 days ago
Bruh, you're not funny at all. Just shut up and let the billionaire talk. I can sit around and hear lower middle class wannabe comedians talk all day. But getting to hear a billionare talk is rare, just shut up.
tom ster 21 days ago
he is wrong. spend it all on property that you rent out what you dont want to use. way bigger return. you are going to pay taxes on income or interest so it doesnt matter about trying to avoid taxes. and when you want something else, sell one piece and buy another. lot less likely to go bankrupt or get ripped off.
Cameron Burke 21 days ago
Wow rich people buying lottery just leave it to the low class or medium class like damn we want it for food and car payments you already have millions chill
Nate 21 days ago
The house always wins, all that tax lol
incognito 21 days ago
wait so full payout of 1.6 Bill turns into 800 Mill and on top of that 50% of more taxes turns into 400 Mill so confusing and why is that???? what are government bonds and what kind of financial institutions is Kevin talking about. I don't understand this financial world :/
JoeWaylo Gaming 21 days ago
If I win, you will have a crapload of videos from the games I film because I won't be at my office no more. Doesn't matter if I only win 400 Million dollars.
Kyon 21 days ago
Bad advice, you have to stay anonymous
bill bob 21 days ago
Kevin why did you step down from the conservative party leader i would have voted for you, you would clean up Trudeaus mess
Literally Kyle 22 days ago
*When you already have millions, fuck off & stop trying to make more greedy💀*
Star Gazer 22 days ago
Zdoes anyone find it odd how some spend hundreds of dollars on lottery’s every month but won’t donate anything to homeless people,If I ever won this money I would help so many people,I would start a reality show and change people’s life’s who need help,I would also help a lot of animal organizations,Sick children and such.You know most people would just worry about themselves like self absorbed people do!!!
6DOUBLE6 22 days ago
I'm just gonna take every bit they would give and pay off whatever I need then put what I got in maybe 2 or 3 different offshore bank accounts.
Darius Roland 22 days ago
TMZ are puppet interrupting they don't care.
NotoriousMastaG 22 days ago
lmao 30% of the population will never even make $1,000,000 after taxes in their life id say. how depressing ;)
Justin Newell 22 days ago
Bonds? Come on Kevin. They should have called Dave Ramsey.
KyRo_ FloW 22 days ago
Finally I watch the video that’s been in my recommended for 2 years
presidentialxxlife 22 days ago
Wait did he just say $1.6 billion with a cash option I get only $800 million listen first thing how could my taxes be half and next thing how comes your still coming back for taxes out of that $800 million yo Canada or no other country tax the lottery that money has nothing to do with the government that people’s money they is no way I’m settling for $400 million out of 1.6 billion complete rip off I could pay more tax than what I earn last I check for every $100 bill it’s taxed at $30 this guy doesn’t know shit gtfoh bs other countries give you the whole lottery earnings America is a thief if what he’s saying is true
Herhighness productions 22 days ago
Great advice.
Kerri Schneider 22 days ago
The first thing I would do if I had won. throw my tv out the window.literally. and put my cell phone down the garbage disposer. Just trying to listen to the advice. irritated me thoroughly. I don't care what irrelevant comment dweedle dee and dweedle dum need to get out of their face and interrupt with. Gawd how annoying !
Steve Culberson 22 days ago
you win. love thda hair stev fro, flint m
PANZER 22 days ago
Its crazy that this video is from like 3 years ago now and everyone is commenting about the current jackpot size im sooo confused as to whats going on with society if people dont notice these small things we could be missing alot more
John Adams 22 days ago
he has the wrong tickets. he has powerball, not megamillions
Sqedward 22 days ago
John Adams this is a old video from two years ago
Paul McCathy 22 days ago
Can I play the powerball from abroad ??
davemdowling 22 days ago
Um. the 1.6B jackpot was Mega Millions, not Powerball. Come in TMZ, you can do better.
Sqedward 22 days ago
davemdowling this is a old video stupid
richystar2001 22 days ago
It's all going to immigrants and refugees in taxes. Get out of the US. Or lose it all.
Anthony Lee 22 days ago
Great advice from a guy who deceived and screwed over Mattel in order to become wealthy. NO respect for this slick, slippery bastard.
Amazing Dude 22 days ago
Just bring that money in india and out in fixed deposit. Now you have 9% per year interest money coming in for rest of your life.
Swinging The Hammer 22 days ago
The fact that Kevin Oleary buys lottery tickets confirms the rumours that he is nearly broke. Smart rich people invest, and NEVER gamble. Wannabees gamble. He should know this.
MIXED BAG VLOGS & VIDS 22 days ago
Also that's the crazy thing that you guys have to announce the winner. Here we don't even if we win your Lotto crazy isn't it ?!
Geemon3y23 __ 22 days ago
From 1.6 billion to 400million after taxes talk about being raped lol. 400 mill is alot but think about it. you win 1.6 billion but lose 1.2 Billion 🤔😳 they tax b4 they give u the money and after u get the money lol. but 400 mill is alot. can't beat the government the real pimps here lol
B Ware 21 days ago
FYI, whoever won it was instantly wayyyy richer than Kevin O'Leary. He's only worth about 400 mil but you would think he was the owner of Amazon. And the lump sum isn't 50% it's more like 39% big difference
MIXED BAG VLOGS & VIDS 22 days ago
Funny that people get angry about buying tickets. Little do they know that here in Australia we can buy tickets for these massive powerball Jackpots. Not only in a Australians can play U.S Powerball but a lot of other countries too.
Young Dab-A-Roosa 21 days ago
And yet none of you other countries will never win! Smh
Edwin Jansen 22 days ago
This is just sheer entertainment. The most interesting remark of the whole conversation. ;-) And when he said: It is in your genes. Unless I heard that incorrectly.
Shades XL 22 days ago
If your time is so short how about you try shutting the fuck up so they can actually speak? It's not like you clowns have anything of substance to say anyway.
Monta Collier 22 days ago
166,000 a month sounds awesome but the lottery is a set up to keep you poor
Sarah Thomas 22 days ago
Majority of the time people with money and financially stable be winning the lottery.
Aaron Irizarry 22 days ago
I'm not going to stop working. I'm going to continue being a EMS/ First Responder.
Winner 2016 22 days ago
That somebody will be me.
Philipp M 22 days ago
Call me stupid or anything but can someone explain to me how 1.6 bil become 400 mill
Screamin Mime 22 days ago
That would had been funny had Kevin won, people would had been SO jelly!
Andrew Cannon 22 days ago
He thinks America is going to go bankrupt. Well, that sucks. This guy makes me sick. Pay your taxes asshole!
Richie Rich 22 days ago
Somebody is going to win, is the greatest state con! It is why states without casino, fought them coming into their states; it would cut into their profits! As they say, the worst bet in a casino, is the slot machines; one arm bandits. But the only thing worse are state run lotteries. Plus the fact that most big lottery winner eventually go broke. If you cannot handle money, someone giving you millions won't help you at all.
Ahmed Alam 22 days ago
This was posted in 2016 lol.
Jaxx Brat 22 days ago
So basically they scam us with the big number but it ends up at 25% Btw this shark guy is an sss
afro symphony 22 days ago
published in 2016??? da fook????
Eric Morgan 22 days ago
I love Kevin. sense of humor and smart. A Shark. :-)
Eric Morgan 22 days ago
I love Kevin. Since of humor and smart. A Shark. :-)
Hugo Stiglitz 22 days ago
these dumb Fox want you to go out and spend $2 for a Powerball ticket, you will never ever win! You know why, because there are no real big winners! I want one person to prove to me who won and where are they now and make a video proving that they won. Just last Tuesday one man in South Carolina 11.7 billion dollars, the man is nowhere to be found, his name wasn't revealed, so how can it be proven? Keep buying those tickets people, keep donating to the international monetary fund if you know what that is. It's basically a giant World Bank that is trying to figure out how to dispose of you
D Regg 22 days ago
I need a mentor like him