Shark Tank

Kevin O’Leary is off the hook in a fraud lawsuit -- and his lawyers are saying he should never have been sued in the first place.

A judge just granted O'Leary's motion to toss the suit filed against him last year ... alleging he helped promote a massive scam that duped a bunch of people trying to start businesses.

20 entrepreneurs sued Kevin and others for allegedly encouraging them to use crowdfunding companies to kickstart their business ideas. The problem is they claim it was a total bunk, and they all ended up losing money.

Here’s the thing though ... Kev’s attorneys, Paul Sorrell and Andrew Brettler, tell us the reason the judge agreed to dismiss O'Leary from the case is because -- put simply -- the court didn't buy that O’Leary's general statements about crowdfunding were enough to hold him accountable when people pursued those paths.

In other words -- just because the crowdfunding plan didn't pan out, it's not Kevin's fault

In any case, all’s well that ends well for Mr. Wonderful ... who previously told us the suit was bogus, and that he’d defend himself in court.

Bruce Springsteen's the Boss alright ... of the IRS, because the rock legend is gonna end up saving millions in taxes every year, courtesy of his record-setting sale of his music catalog ... according to Daymond John.

The "Shark Tank" star gave us some insight into why Springsteen and several other huge music stars are unloading their master recordings and publishing rights to corporations -- and turns out taxes are one major motivation.

Even before Sony bucked up big time for Bruce's songs we've seen Bob Dylan, Stevie Nicks, Neil Young, Shakira, Imagine Dragons and others sell their tunes in 9-digit deals ... although, only Dylan's at $300 mil comes close to Springsteen's half a BILLION.

As Daymond explains on Friday's "TMZ Live" ... obviously these celebs are already in the highest tax bracket, which means they'd be paying around 40% in federal taxes on their income from annual royalties.

Now those royalties go to whoever buys the catalog, and that's the true brilliance of these deals. You've gotta see Daymond's explanation, but basically, Bruce is about to cut his tax rate in half!!!

There are other motivators too -- such as worldwide pandemics shutting down concerts and traditional revenue streams -- but at the end of the day, Daymond says the name of the game, for Bruce and others, is securing steady income for generations to come.

Barbara Corcoran is NOT persona non grata at 'The View' -- because Whoopi Goldberg is already past the fat joke BC cracked at her expense ... saying it's water under the bridge.

We got the comic and talk show host Monday leaving ABC Studios in NYC, and just had to ask where things stood between her and her old 'Shark Tank' pal ... who got a little out of pocket last week in taking a crack a Whoopi's weight.

Watch Whoopi's reaction when he asked her about the incident ... she legit looks like she doesn't even remember it, which reflects how she feels about it -- literally, NBD.

Now, for the why ... Whoopi explains to us that Barbara has a unique sense of humor as it is -- see her funeral birthday thing as exhibit A -- and that she really didn't take offense to it all.

There's also the history between them, which WG also touches on -- saying their friendship of 20-plus years isn't going to crumble over a little quip like that ... especially since Barbara fully apologized for it right afterward. And, yes -- that means Barb isn't banned by any stretch.

Sounds like people made a bigger issue out of it than it actually was to Whoopi herself -- who, BTW, tells us she's feeling pretty good these days. Well enough to be "up," anyway.

Barbara Corcoran and Whoopi Goldberg together provided a cringe moment on "The View" ... the result of a fat joke Barbara lobbed at Whoopi.

Ya gotta see the video ... the roundtable discussion starts innocently enough, with the hosts and some 'Shark Tank' stars talking about new jeans, but it gets super awkward when Barbara chimes in and tries to get a laugh.

Whoopi's asking if the jeans in question will fit her COVID butt, and that's when Barbara says ... "and when you get finished with those jeans and decide you don't like them, give them to me, I'm going to make 2 pairs." 😲

Barbara did NOT stick the landing, and the joke fell totally flat. Whoopi immediately looked pretty pissed, and the rest of her 'View' co-hosts weren't too happy either.

It's a super awkward interaction ... but Ana Navarro had Whoopi's back, and clapped back at Barbara with a major fashion diss.

Ooohh, the backstage convos that must've gone down!!!

Linda O'Leary -- wife of "Shark Tank" star Kevin O'Leary -- has been found not guilty in her criminal trial for a 2019 fatal boat crash on a Canadian lake.

As we reported ... Linda had been charged with careless operation of a vessel, and was accused of drinking alcohol before the boat she was driving struck another, killing 2 passengers.

The verdict was just read in court -- not guilty -- and the judge rejected any suggestion O’Leary was impaired by alcohol at the time of the boat crash ... concluding that alcohol played no part in the accident.

An acquittal will be entered in the case, and Linda's off the hook for any criminal charges.

However, the O'Learys are still facing a wrongful death suit for the fatal crash. They were sued in late 2019 by the family of one of the victims, alleging Kevin and Linda were incapable of safely operating the boat because their judgment was impaired by alcohol, drugs or fatigue.

Kevin O'Leary and Kevin Harrington allegedly scammed tons of entrepreneurs out of hundreds of thousands of dollars ... according to claims in a new lawsuit.

The "Shark Tank" stars are being sued by 20 people who claim O'Leary and Harrington each played roles in what they say was a brazen scam to defraud hard-working entrepreneurs.

According to the lawsuit, obtained by TMZ, O'Leary and Harrington steered investors and entrepreneurs to hire one of two companies, InventureX or Ideazon, to handle crowdfunding for their startups.

In the suit, the folks who claim they got scammed say they were promised help raising funds for the businesses and some say the prospect of appearing on "Shark Tank" was dangled in front of them ... but they say once they paid money to the companies endorsed by "Shark Tank" stars, they got little to nothing in return, aside from a bill.

What's more, the suit claims the crowdfunding companies O'Leary allegedly endorsed might not even exist at all and suspect it may be a big "predatory fraud scheme.”

While 20 people are suing O'Leary and Harrington, those folks claim they are just one small faction of hundreds, if not thousands, of folks who fell victim to the scam.

We reached out to reps for "Shark Tank" ... so far, no word back.

Usually, the last thing you wanna see while stranded in the water is a shark ... but this time, it was a GOOD thing -- 'cause "Shark Tank" star Robert Herjavec saved the day by rescuing an ex-hockey player and his family during a boat trip on the lake!!

Here's the deal ... 41-year-old Tom Lawson -- who played 10 years in several different leagues -- was out with his wife and kids on Lake Joseph in Ontario, Canada ... when their boat ran out of gas.

To make matters worse, the sun was going down and Lawson's boat was not meant to be out at night ... so the whole family started flailing their arms and calling for help.

As it turns out, the businessman was out on his jet ski at the same time ... and noticed the family trying to get his attention.

"My first thought was they must love 'Shark Tank,' but then I realized they were out of gas and stranded," Herjavec told People.

The Shark says he immediately sprang into action and found a rope to tie to Lawson's boat ... and towed them back to land with his jet ski!!!

"Did my good deed for the day," Herjavec said on Instagram.

The group was extremely thankful for the rescue ... and even posed for a pic with their hero.

The luxury vessel that Kevin O'Leary's wife crashed her boat into suffered significant damage ... and TMZ's obtained photos showing the impact's brutal aftermath.

You can see the Super Air Nautique -- which had 12 passengers on the night of the crash -- sustained damage on its nose, along with extensive cracks and chipped paint ... there's also a haunting image of blood on one of the boat's seats.

The pics from the criminal case make it clear where the vessels made contact -- and the Cobalt boat, driven by the "Shark Tank" star's wife, Linda O'Leary, was also severely banged up.

In fact, some parts of the O'Leary's boat were later found on the Nautique. That being said ... a marine mechanic testified in court that while the Nautique had a "fair amount of damage" he expected more considering what he had initially heard about the accident.

The trial wraps up later this week ... and Kevin is expected to testify Wednesday via Zoom from Los Angeles. Linda's pled not guilty to carless operation of a vessel ... in other words, driving too fast. The driver of the other boat was cited for operating his boat at night without navigation lights.

As we reported ... Linda reportedly had booze on her breath following the fatal boat crash. But according to legal docs and obtained by CBC News, cops say Kevin's wife told them she drank vodka AFTER the crash and BEFORE cops administered an alcohol screening test.

Cops, however, believe she consumed the alcohol before the crash. In any event, the family of one of the two people killed in the crash on a Canadian lake filed a civil suit against the O'Leary's.

Rich people shaming other rich people NEVER GETS OLD!!

Case in point ... here's Daymond John outing one of his fellow "Shark Tank" stars whose credit card was DECLINED at a fancy dinner -- and all signs point to MARK CUBAN!!!!

"A card was declined and it was somebody that is the last person that I ever think a card would be declined," Daymond said on Rich Eisen's new "Just Getting Started" podcast.

"And there was obviously a reason ... but I was like, '[clears throat] I’m going to get this one, so that I can go down in history saying that I paid for your check!'"

Then Daymond dropped another clue ...

"And, if you knew how the Sharks talk, you can tell -- if you’re in sports -- he said 'Whatever, DJ,' you know who that is, of course."

IT'S DEFINITELY MARK CUBAN!!!

Of course, Cuban is currently worth around $4.4 BILLION, according to Forbes ... so the declined card was most likely a mistake (it's not like the dude doesn't have the funds)!

But still, Daymond loved EVERY SECOND OF IT -- and now he can brag that he picked up Cuban's check in the Dallas Mavericks owner's moment of need.

At the end of the interview, Eisen tells Daymond -- "You tell Cuban, pay his bills!"

Daymond smiles and replies, "You said it, not I. I didn’t say the name, you said it."

One might say Mark Cuban's got a baby shark on his hands -- his 11-year-old son got in on the Robinhood craze, but in just one day he learned some tough lessons.

The "Shark Tank" star joined us on "TMZ Live" Thursday and told us all about his fam's newest trader, Jake, who was flying high Wednesday, when he opened his Robinhood account and picked up a couple shares of AMC and BlackBerry.

Mark says Jake was riding high as he turned his first trades into seemingly easy money -- but like millions of investors, Thursday morning turned into a learning experience for him.

Pop had to break it down for Jake -- what goes up sometimes comes way down. Like, way down.

Fortunately for Jake, his father is a billionaire, so this lesson won't cost him everything -- he only invested about $100, anyway. But, watch the clip ... Mark taught his son something else about how to react when a stock you like suddenly plummets.

Stock school aside, Jake is ticked off about Robinhood shutting down trades -- and Mark told us why the free-trading app has some explaining to do.

Dwyane Wade and Shaquille O'Neal have a lot in common -- they both blew a FORTUNE when they were young ... and are hoping young people can learn from their stupid, expensive mistakes.

The NBA legends sat down with "Shark Tank" star Daymond John for Black Entrepreneurs Day -- to talk to young people about the importance of financial intelligence.

And man, if these stories don't get the point across ...

Shaq says he was so uneducated about finances when he signed his first endorsement deal after turning pro, he blew $1 MILLION in an HOUR -- splurging on expensive cars, jewelry and a trip to Vegas.

In fact, he went through so much cash, his bank manager pulled him aside and warned him that he was gonna go broke if he continued to spend like a maniac ... because he wasn't accounting for things like income tax, etc.

Dwyane Wade tells a very similar story -- saying he got tangled up in some bad investments because he had no idea what he was doing.

"I blew through a lot of money," Wade said ... "I got into bad relationships with people from ... ventures outside of basketball, restaurant ventures, etc."

Wade says he simply wasn't educated when it came to finances -- and had to learn the hard way after being taken advantage of.

But now, both superstars are hoping their loss can be your gain -- stressing the importance of financial intelligence so young people spend their money wisely and make it last a very long time.

Daymond John is dropping knowledge and giving away money through a brand new venture he's cooking up, and he has a ton of celebs ready to inspire a new wave of entrepreneurs.

The "Shark Tank" star filled us in on his latest initiative called Black Entrepreneurs Day, telling us how folks can get $25,000 to help their small businesses.

It's pretty cool ... Daymond's got a dream team of celebs, who are also very successful business people. Shaquille O'Neal, Gabrielle Union, Jamie Foxx and LL Cool J will be with him to share experiences and advice in a series of one-on-one conversations.

Daymond and co. will be streaming live for Black Entrepreneurs Day on Oct. 24 and you can tune in and take notes on Facebook, Twitter, Twitch, LinkedIn, YouTube and TikTok.

Check out Tuesday's "TMZ Live" to see more from Daymond about how he put this huge event together -- and you can apply for one of the $25k grants starting today at blackentrepreneursday.com.

"He's gonna be a target. He's got a target on his back. Wait and see."

That's "Shark Tank" star Barbara Corcoran warning Patrick Mahomes that with giant fortune comes giant scammers trying to take your money!

But, if you know anything about Barbara, you know she's a gangster when it comes to finance ... and she's dishing out some sage advice for the QB so he can STAY RICH for the rest of his life.

So, what should the KC Chiefs QB do with the $500 mil he's expected to make over the next 12 years?

"First of all, it's not $500 million," Barbara says ... "Remember, he has an Uncle named Sam. He's gonna have to pay him $250 million so he really only has $250 million. Bear that in mind."

Corcoran explains, "The first thing he should do is put it in the bank. Not do a thing! I know because when I sold my business, every creep came out of the woodwork with a $10,000 problem. Everybody is after your money and you can't trust anybody."

Barbara says it took her at least a year to realize how to turn people down effectively -- and the key is to hire a "bad guy" to tell people "no."

"The most important thing is before he buys that big house and a big jet ... he's gotta figure out how much money he needs to live on."

"He's a kid but he's gonna live a lot of years! So for every $25 million he puts away, he's going to get a $1 million income for the rest of his life"

"He should figure out, I need $1 million? I need 2 million? I need 5 million? And put that money aside. That's what he's gotta do."

Corcoran says Patrick should spend some time with her "Shark Tank" pal Alex Rodriguez -- who has become a major real estate investor.

That's saying something considering A-Rod reportedly made more than $441 million in MLB contract money!

There's more ... Corcoran also has a business strategy for Patrick -- and it's pretty damn smart! Watch the video and if you have the money, you might wanna take her advice!!

She also offered this final warning to the 24-year-old NFL superstar ...

"Let me tell you something, the more money you make, the more creeps you attract. The more people dressed in fancy suits, and not some fancy suit, friends or family -- all come out and are after your money."