Kevin O’Leary’s advice to a family arguing over an inherited golf cart: ‘This isn’t a child. It’s a golf cart!’
Kevin O’Leary, investor on ABC’s “Shark Tank,” isn’t one to shy away from offering business advice – from small business owners to anyone trying to save extra money or in need of career guidance.
And on the debut of his CNBC web series “Money Dispute,” O’Leary helped a woman named Denise who was arguing with her family over an inheritance dispute.
“There’s nothing more stressful than a money dispute, whether it’s with a business partner or a family member, and in this extraordinary times, the stakes are higher than ever,” he said in the video.
“You don’t need that stress. You need resolution. So, I’m here to give it to you….”
Denise who wrote O’Leary a letter, which he read in the video, was arguing with family members over a golf cart she felt she should inherit.
“My mother-in-law was dating my brother-in-law’s dad. But after she died and left behind her golf cart, my brother-in-law kept it, because he said he put a new battery in it and was going to use it,” she wrote to O’Leary, according to the video.
“He said she wanted him to have it, but in fact, he hated her and always talked about her behind her back. I’m now not even speaking with my sister because of this. They’re rich enough to buy 12 golf carts and we are not.”
“What is your advice?” the letter read, according to the video.
In response, O’Leary started by assessing the situation.
“There’s clearly family. There’s a golf cart. There’s capital expenditures and the new battery in the golf cart. But I understand, fair is fair,” he said.
But “let’s try to put a value on this thing,” O’Leary said.
“It’s a used golf cart with a new battery. What’s that worth? If it were the Rolls Royce of golf carts, maybe $2,500. In reality on this one, $500 maybe.”
Based on that, O’Leary asked the ultimate question: “Is it really worth fighting about? I don’t think so,” he said.
“This isn’t a child. It’s a golf cart!”
For more tactical advice from O’Leary, watch the full episode of “Money Dispute” embedded above.
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Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”