Millionaire investor and “Shark Tank” star Kevin O’Leary ignited a heated debate on CNN when he accused the Democratic Party of circumventing democratic processes in selecting Vice President Kamala Harris as their nominee. This led to a contentious exchange with panel members.
With an estimated net worth of $400 million, O’Leary drew parallels between stock picking and the Democratic Party’s nomination process, suggesting that party leaders had “anointed” Harris rather than allowing for a competitive primary process.
On the October 26, 2024 “CNN NewsNight,” O’Leary remarked that after observing her performance at the town hall meeting, Democrats should question how she became the nominee.
He noted that just 90 days ago, Nancy Pelosi approached Biden, urging him to step aside, which he ultimately did. Biden then asked Pelosi if Harris was the best candidate to carry the campaign forward. Rather than initiating a formal selection process, they proceeded without one. O’Leary added that he was uncertain who had made that decision, speculating it could have been Obama or Pelosi, though he expressed indifference about the specific individuals involved.
“This is the second time the Democratic Party has circumvented democracy,” O’Leary declared during the panel discussion, referencing Harris’ selection and the 2016 primary where he claimed Bernie Sanders was “cheated out of the nomination.”
The panel reacted strongly, with several members repeatedly insisting it wasn’t true. Amid continued interjections, O’Leary contended that in the 2016 Democratic primary, no one was given a fair chance to challenge Hillary Clinton. Some voters felt that Senator Bernie Sanders lost the nomination due to bias within the Democratic National Committee. In response, Phillips countered by emphasizing that Hillary Clinton had won a primary.
The Canadian-born investor defended his position by comparing the nomination process to financial markets. He argued that the selection process resembled how fund managers pick stocks, with a small group of senior Democratic leaders deciding rather than allowing broader party participation through primaries.
“I want the president, whoever it is, to be a winner,” O’Leary maintained during the increasingly heated exchange.
The discussion highlighted ongoing tensions within Democratic Party politics, particularly regarding the nomination process. Panel members questioned O’Leary’s credibility as a Canadian-born investor commenting on U.S. political processes. At the same time, O’Leary insisted that his perspective as a business leader offered valuable insights into the selection process.
The debate centered on how political parties should choose their nominees and whether the current system adequately reflects democratic principles. While O’Leary maintained that the process should involve more direct voter participation, CNN panelists defended the party’s right to determine its nomination procedures within legal boundaries.