In a fiery critique that echoes the sentiments of many hard-working Americans fed up with frivolous spending, Canadian multi-millionaire and *Shark Tank* investor Kevin O’Leary has taken aim at what he sees as the financial irresponsibility of today’s workforce. His target? The daily $5.50 cup of coffee and overpriced lunches that are draining pockets nationwide.
O’Leary, who boasts an estimated net worth of nearly $600 million, didn’t hold back in a recent Instagram post where he lambasted young professionals for what he described as “stupid” financial choices. “Stop buying coffee for $5.50. You go to work and spend $15 on a sandwich – what are you, an idiot?” O’Leary quipped, with his trademark bluntness. “It costs you 99 cents to make a sandwich at home and bring it with you.”
For O’Leary, the math is simple but the message is profound. He argues that people in their early careers, particularly those earning around $60,000 annually, are squandering a significant portion of their income on non-essential purchases. “Most people piss away about $15,000 a year on stupid stuff. And that’s what they should stop doing,” he continued.
In a world where inflation is squeezing every dollar, O’Leary’s words resonate with many who understand the value of a hard-earned paycheck. Commenters on his post were quick to agree, with one writing, “Bringing my lunch to work for decades saved me countless thousands of dollars.” Another added, “100 percent! $10 here, $7 there, another $12 here & another $9 there sure adds up quickly.”
But of course, in the age of social media, there were also detractors who criticized O’Leary for being “out of touch” with the realities of grocery costs. Some questioned whether it’s still possible to make a sandwich for under a dollar, as O’Leary suggests. Yet, this line of thinking misses the larger point: it’s not about the exact cost of a sandwich, but about the discipline of managing one’s finances wisely.
The broader economic context supports O’Leary’s stance. Research shows that Australians, for example, spend an average of $2,436 annually on lunches, with those working in offices shelling out even more. However, recent trends indicate a shift away from such spending. Data from Square, a digital payments platform, reveals that more people are forgoing their morning coffee runs, likely due to the rise of hybrid work and the ever-increasing cost of living.
Weekday breakfast transactions have dropped below pre-pandemic levels in major Australian cities like Sydney, Melbourne, and Brisbane, while weekend brunches are seeing a slight uptick. It seems that people are starting to heed advice like O’Leary’s—choosing to save their dollars during the workweek and treat themselves only on weekends.
O’Leary’s comments also come on the heels of his critique of Australia’s new Right to Disconnect legislation, which allows employees to ignore work communications outside of office hours. He blasted the law as “stupid” and warned that he would fire any employee who “went silent mode” when needed for an emergency.
While his views might seem harsh to some, there’s a reason Kevin O’Leary has amassed a fortune: he understands the value of time, money, and discipline. His message is clear—if you want to build wealth and security, it starts with making smarter financial decisions today. And maybe that means brewing your coffee at home.
