"The fulcrum, the leverage": Shark Tank investor Kevin O'Leary shares how Mark Carney uses Trump-fear for Canadian support

Shark Tank's Kevin O’Leary recently discussed how he thought Canadian political figure Mark Carney secured voter support despite widespread economic dissatisfaction. In a clip from his Al Arabiya English interview posted to Instagram on May 23, 2025, Kevin was asked how Carney managed to win and whether Donald Trump’s rhetoric played a role. O'Leary responded, saying:

“Carney was very smart in using Trump as the fulcrum, the leverage, to put fear into Canadian hearts and get himself elected.”

O’Leary said that Trump’s statements became a key political tool for Carney and examined what challenges now lie ahead for Canada’s new leadership.

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How Mark Carney leveraged Trump’s rhetoric according to Shark Tank's Kevin O’Leary

Kevin O’Leary said Carney used Trump-related fear to shift voter focus

During the interview, Kevin O’Leary described Carney’s electoral strategy as centered on diverting attention away from his party’s prior record. The Shark Tank investor stated:

“Carney, basically said, 'Look, don’t look at our party’s track record. We know we’ve put Canada into an economic coma. We have lost on every market share across the G20.'”

According to O’Leary, Carney instead focused on external threats, particularly Trump’s comments regarding Canada. As per a Business Standard report dated January 8, 2025, Trump had suggested that the United States should purchase Canada, a notion that O’Leary called “very unpopular.”

“Carney was very successful in playing the fear of Trump that occurred in Canada,” O’Leary added.

This fear, he explained, helped push voters toward Carney’s platform despite dissatisfaction with the party’s economic management under former Prime Minister Justin Trudeau.

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Economic concerns remain despite Carney’s victory

Although Carney secured an electoral win, O’Leary underscored that it came without a majority mandate. He noted that Carney did not win a majority mandate, and said that in the Parliamentary system, without a majority mandate, in 12 to 18 months, there is usually another election. He added that "that’s probably what Carney faces if he doesn’t turn the economy around."

The Shark Tank investor mentioned the nature of Carney’s current political standing. O’Leary described the economic challenges facing Canada, referencing stagnant growth and rising debt:

“We have no GDP growth anymore, per capita debt is the highest ever, and of course, 25% of the population of Canada is now at the poverty line.”

He also remarked that “everything’s in the worst place it’s ever been,” indicating that while the situation is difficult, it presents a starting point for potential recovery.

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Reinforcement of investment and regulatory barriers

Looking ahead, O’Leary emphasized that Carney’s main responsibility is to restore investor confidence. He explained that Carney must find a way to encourage people to "reinvest in Canada," as interest in putting money into the country has significantly declined.

The Shark Tank investor attributed part of the investment decline to federal legislation:

“There’s a bill in Canada called C69, which is a no pipeline bill, no environmental projects bill, no mining bill, no anything bill. And so as a result, no money comes to Canada anymore.”

Despite these obstacles, O’Leary explained that the current economic situation is already in such poor condition that it would be difficult to worsen it, suggesting that any actions taken by Carney now have the potential to lead to improvement. He described the scenario as "very hard to make it worse."

He suggested that Carney has an opportunity to shift direction, provided he delivers results quickly.

“He’s got 18 months. If he doesn’t deliver, the Canadians will kick him out and hire somebody else,” O’Leary said.

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