Kevin O’Leary ‘forbids’ couples to merge their finances, warns lacking financial identity could spell disaster

‘Shark Tank’ star and investor Kevin O’Leary says he ‘forbids’ couples to combine financially, saying that a lack of one’s own financial identity can lead to problems if one’s personal life deteriorates. warned that it could have dire consequences.

“In this society, you have to maintain your financial identity, and you have to, because 50% of marriages end in divorce because of financial stress in the first five years of marriage. Even if you end up in a long-term situation, even if something goes wrong, if something happens to your spouse, like death… [and] You’re in the American wilderness without your own financial identity,” he told FOX Business’ Stuart Barney on Monday.

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Kevin OLeary, chairman of OLeary Venture, has warned couples against combining financially. (Kyle Grillot/Bloomberg via Getty Images/Getty Images)

“In order for me to survive, I have to have a credit rating, I have to have a financial identity, I have to have my own accounts, I have to have my own investment accounts. That’s why people say to me, ‘We’re going to consolidate our accounts.’ When he said that, I said, ‘What, are you crazy? Absolutely not,'” he continued.

Ms O’Leary added that she forbids sharing of financial practices within her family and “enforced” prenuptial and cohabitation agreements.

“I’m a realist, so I want my loved ones to do their financial due diligence. I’m dealing with the real world,” he told Varney.

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Kevin O’Leary, chairman of O’Leary Ventures, warned that financial consolidation could spell disaster for individuals if something were to happen to their marriage or spouse. (image/image)

Adding to the conversation, he argued in favor of prenuptial agreements to address unequal economic accounts, and pointed to his role as an investor in HelloPrenup, saying the platform encourages people to choose between potential partners. They claimed that the company was forcing them to ask important financial questions.

“Because if you’re building an economic pillar together, you want that harmony to last for a long time. I would argue that premarital sex is much more helpful, and I really do,” he said. .

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of Chairman of O’Leary Ventures has previously recommended that couples keep their financial identities separate. Post to X On Sunday, it urged people to keep investment accounts, ETFs, stocks and bonds in their own names.

“You don’t have to tie it to your significant other. Never,” he said in a video shared with the post. There’s no need for that at all.