Latest news with #O'Leary
Miami Herald
6 hours ago
- Business
- Miami Herald
Shark Tank's Kevin O' Leary has a bold take on tariff twist
Ever since President Donald Trump announced his tariffs back on April 2, a day he called "Liberation Day," the world has been on a roller coaster ride it did not sign up for. As they were originally presented, the tariffs would cause earth-shaking change for businesses across numerous sectors, from automotive to retail to technology. Don't miss the move: Subscribe to TheStreet's free daily newsletter Those who relied on China for imports were possibly the most threatened, as at one point, back-and-forth clashes between Trump and the country led to a 145% tariff. By May, Trump seemed to be backing down on some of his levies after talks with certain countries, leading voices on social media to come with with the acronym TACO, which stands for "Trumps Always Chickens Out." Trump lashed out at the accusation, saying, "It's called negotiation." Related: Federal Court delivers massive blow to Trump's tariff plan Now a new chapter has opened in the tariffs saga after a federal trade court voided certain tariffs on May 28, followed by a similar ruling from the District Court of Washington, D.C. on May 29. The White House immediately appealed, leading the U.S. Court of Appeals for the Federal Circuit to temporarily pause the void on tariffs while the appellate court decides what to do next. As the battle rages on, one of President Trump's most vocal tariff supporters has stepped up to give his own opinion on the matter. Image source: Willard/Disney via Getty Images In a tweet posted on X early on the morning of May 30, tech investor and "Shark Tank" personality Kevin O' Leary weighed in on the rapid changes unfolding with tariffs, taking a stand on his personal beliefs. "I don't care about the political theater; I care about policy and how it impacts markets," the tweet read. "Trump's tariff strategy might look chaotic, but it's forcing the world to the table. Markets are near all-time highs, employment's strong, and tech's on fire. That's what matters," he said. More Tariffs: Tesla, Elon Musk make drastic decision amid U.S.-China trade warMajor U.S. automaker makes harsh decision in the wake of tariff tussleTariffs will devastate this entire industry O'Leary also posted a clip of himself in an interview with Fox News, where he dove deeper into the comments he summed up in the tweet. "I don't mind that this president and this administration has this unique attribute of doing everything, as sausage is being made, with a camera there," he said. "Trump doesn't care. So you're watching sausage being made with all of this volatility just around the tariff narrative. He stretched and pushed the powers of the executive up against the courts. He doesn't care. And they push back. He doesn't care." O'Leary points out that, in his eyes, things are good under Trump's rule. "The market is now back near its highs. The economy almost full employment. We are killing it in tech, where I'm an investor. I'm very, very happy," he said. Then, O'Leary revealed what he thinks the president is really trying to achieve. "And yet the market is starting to figure out that what really Trump is doing is getting us to a reciprocal tariff maybe around 10% by the time we get to the midterms," he said. "That's kind of the vibe in the market right now. And no administration has tried to negotiate 60 trade deals at once. That's never been done. And so obviously now with these pushbacks from the gonna be a little slower." In another tweet sent the morning of May 30, O'Leary summed up his take, short and sweet. "Most people get distracted by the chaos around Trump," the tweet read. "I don't. I follow policy, because that's where the money is. He's rewriting the rules of global trade. Ignore the spectacle. Track the signal. That's how you win." Related: Shark Tank's Kevin O'Leary warns Americans on Social Security problem The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
The Hill
20 hours ago
- Business
- The Hill
O'Leary bashes Trump's ‘stupid' Harvard foreign student crackdown
Investor Kevin O'Leary seemingly bashed the Trump administration's recent crackdown on Harvard's international student population, calling the actions 'stupid' during a Friday Fox News interview. 'Harvard's taken a lot of heat for other stuff, but they shouldn't be taking heat for curating amazing cohorts,' the 'Shark Tank' star said while appearing on 'Outnumbered.' 'These kids are amazing, and we gotta keep them here.' President Trump recently upped his attacks on the Ivy League institution, suggesting a 15 percent cap be imposed on the percentage of foreign students that Harvard University and other U.S. higher education institutions can admit. Secretary of State Marco Rubio in recent days also threatened to revoke student visas for all Chinese scholars. 'And I'll tell you what, many of those students didn't go anywhere. Many of those students were troublemakers caused by the radical left lunatics in this country,' Trump said of international students while speaking to reporters Wednesday from the Oval Office. O'Leary, who teaches at Harvard as an executive fellow, shot down Trump's claims without mentioning the president directly. 'They don't want to leave America. They don't hate America,' O'Leary said of the students he's encoutered. 'They want to get a passport, stay here and start a business. I think I'm one of the lone voices pointing that out.' O'Leary continued, 'Why would we want to brightest and the smartest people on earth and kick them out of the country after we spend millions teaching them? It seems stupid to me.' Trump's actions against Harvard have been stymied recently, as a federal judge sided with Harvard in its fight against Trump's international students cap.
Irish Examiner
a day ago
- Business
- Irish Examiner
Ryanair boss Michael O'Leary on track for €100m bonus
Ryanair boss Michael O'Leary is on track to receive more than €100m million euros worth of share bonuses. The longstanding boss has qualified for the share options after shares in the Dublin-based company hit a six-year-old target. Shares in the budget airline have met a requirement to close above €21 for a 28th consecutive day. The share rule was set up in February 2019, requiring the consistently high level of shares before 2028. Ryanair shares sat at 23.28 euros on Friday (Peter Byrne/PA) It would provide him with 10 million shares worth around €111.2m. Mr O'Leary will receive the share package if he stay with the business, which he has led since 1994, until 2028. Ryanair shares sat at €23.28 on Friday despite dipping slightly from their peak the previous day. Ryanair has been contacted for comment. When asked about the share option earlier this month, Mr O'Leary said: 'I think we're delivering exceptional value for Ryanair shareholders in an era when Premiership footballers and managers are getting paid 20-25 million a year. 'I think Ryanair shareholders are getting a particular value out of our share options – both mine and the rest of the management team.' Read More Ryanair demands cabin crew staff return pay rises amid Spanish union dispute
Yahoo
a day ago
- Business
- Yahoo
Ryanair boss Michael O'Leary on track for 100 million euro bonus
Ryanair boss Michael O'Leary is on track to receive more than 100 million euros (£84.2 million) worth of share bonuses. The longstanding boss has qualified for the share options after shares in the Dublin-based company hit a six-year-old target. Shares in the budget airline have met a requirement to close above 21 euros for a 28th consecutive day. The share rule was set up in February 2019, requiring the consistently high level of shares before 2028. It would provide him with 10 million shares worth around 111.2 million euros (£93.4 million). Mr O'Leary will receive the share package if he stay with the business, which he has led since 1994, until 2028. Ryanair shares sat at 23.28 euros on Friday despite dipping slightly from their peak the previous day. Ryanair has been contacted for comment. When asked about the share option earlier this month, Mr O'Leary said: 'I think we're delivering exceptional value for Ryanair shareholders in an era when Premiership footballers and managers are getting paid 20-25 million a year. 'I think Ryanair shareholders are getting a particular value out of our share options – both mine and the rest of the management team.' Rival low-cost rival carrier Wizz Air has a similar pay pledge for its chief executive Jozsef Varadi, which would provide him with £100 million worth of bonuses if its share reached £120 by 2028. Its shares are currently valued at around £16. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Belfast Telegraph
a day ago
- Business
- Belfast Telegraph
Ryanair's Michael O'Leary lands historic bonus of €100m in shares jackpot
The Irishman qualified for the mammoth payout on Thursday after Ryanair stock traded above the specified level of €21 for a 28th straight day, closing at €23.74. Mr O'Leary now stands to receive 10m shares for €11.12 apiece, or €111.2m in total. Based on Thursday's closing price, the stock would be worth €237m, bagging a paper profit of €126m. He signalled on Monday that he could stay on as chief executive of the airline when his current five-year contract expires in 2028, when he will be 67. 'I think we're delivering exceptional value for Ryanair shareholders in an era when premiership footballers and managers are getting paid £20m and £25m a year,' he said, as Ryanair published full-year results on Monday. 'I think Ryanair shareholders are getting particular value out of our share options – both mine and the rest of the management team.' Mr O'Leary's current stake in Ryanair is worth more than €950m and he receives a basic salary of €1.2m a year. 'My contract runs out in 2028 and there'll have to be some discussion I presume with the board... as to how my remuneration will be fixed from 2028 onwards, if they want me to stay on after 2028,' he added. He has made hundreds of millions of euro from the airline since he joined in 1988. He became chief executive in 1994 and transformed the carrier into one of the world's biggest. His lucrative deal with Ryanair will see him secure share options in the airline if its share price trades above €21 for 28 consecutive days, or if the airline generates an annual profit of €2.2bn any time up to 2028. News Catch Up - Friday 30th May Ryanair said its full-year profit after tax in its financial year that ended in March tumbled 16pc to €1.6bn despite passenger numbers jumping 9pc to 200.2 million. Its average fares fell 7pc in the year, hurting the bottom line. Despite that, shares in the airline were about 3.5pc higher at €23.21 on Monday morning amid an optimistic outlook, with fare price recovery, oil prices trending down and tight cost maintenance all lifting investor sentiment. The shares have been changing hands at more than €21 since May 2. Under a long-term incentive plan, Mr O'Leary will be awarded 10 million shares in Ryanair, at a strike price of €11.12, if either the share or profit performance required is achieved. That means in 2028, if the options have been granted, he can buy the shares for €11.12 each no matter what the share price at that time is. If in 2028 the shares were even trading at the level they are now, that would see a more than €100m pre-tax gain for the outspoken airline boss. 'The options don't vest until 2028,' said Mr O'Leary. 'We may achieve the targets either later on this month or later on this year, but none of those options vest until 2028. I and the rest of the management team have to stay here until 2028 and continue to deliver before we can actually get hold of those share options. 'I accept there is a possibility we might achieve the performance target either later this month or later this year,' he added. 'The chance of a follow-on scheme is pretty limited,' he added. 'The board, about three or four years ago, moved away from share options. For the last three years, certainly the senior management team have been getting LTIPs (long-term incentive plans), which are awarded every two years and that seems to be a quieter and more reasonable way of rewarding superior management performance.'
