Three of five “Shark Tank” investors – all huge success stories in the business world – say they would consider pumping money into the marijuana industry.
A reporter from Entrepreneur Magazine spoke with the stars of the business-focused reality TV show and asked them if they would put their money into a cannabis company.
Dallas billionaire Mark Cuban was the only one firmly against the idea.
“Would I invest in the cannabis industry? No,” said Cuban, who owns the National Basketball Association’s Dallas Mavericks. “Not because I have anything against pot. I don’t care. But right now it’s a gold rush. When everybody’s rushing in it’s hard to keep track of what everybody’s doing because there’s a new startup every single day.”
• Kevin O’Leary, a Canadian TV and radio celebrity who started SoftKey Software Products: “I would love to invest in the marijuana industry. I’ve looked at four different deals, but my lawyers tell me I can’t because we need a better mandate.”
• Barbara Corcoran, a speaker, consultant and author who built New York’s largest real estate company: “I tried (marijuana) twice. The first time at 35 and again 10 years later. It was weird and not for me, but it’s big business and I’d rather invest in it.”
• Robert Herjavec, founder of one of Canada’s fastest-growing technology companies: “I have no problem with it. I think anything to legitimize any kind of substance that used to be illegal is great because I think you always want to take the criminal element out of it, and I like things that are regulated.”
• Lori Greiner, inventor of more than 500 products and holder of 120 U.S. and international patents: “Everybody should be able to do it legally. Would I invest in it, though? I don’t know.”