Author Topic: Kevin O'Leary spends $3,000 a year on haircuts  (Read 3047 times)

jim555

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Kevin O'Leary spends $3,000 a year on haircuts
« on: December 30, 2018, 12:44:13 PM »
O'Leary gets an $80 haircut every 10 days which means he's spending $2,920 in a year.

https://www.cnbc.com/2018/04/12/why-shark-tank-star-kevin-oleary-spends-3000-a-year-on-haircuts.html

dcheesi

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #1 on: December 30, 2018, 12:56:54 PM »
I had to click through to see which one it was --I can't believe he pays $80 for what amounts to a trim around the sides?!

I'm sure it's partially a status/pride thing; he probably wouldn't want to be seen going to Supercuts or wherever, so he pays more for a hairstylist more  befitting his "station".

My solution when I went bald was to simply shave the rest off. Maybe not a conservative business haircut, but it gets the job done. I haven't been to a barber in over a decade!

I wonder how much $ this works out to per hair?

JAYSLOL

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #2 on: December 30, 2018, 01:38:16 PM »
I'm sure it's partially a status/pride thing; he probably wouldn't want to be seen going to Supercuts or wherever, so he pays more for a hairstylist more  befitting his "station".

That's exactly what it is, also he wouldn't want to be pestered by the common folk while at a regular barber shop.  Also, pretty funny he pays more/year for haircuts than I do on utilities, eating out and haircuts combined when he's basically bald. 

sol

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #3 on: December 30, 2018, 01:44:34 PM »
$3k/year on hair is chump change for a tv personality.  Basically every woman on television spends more than that on her hair.  And let's not even talk about what tv people (men and women) spend on skin care, makeup, eye drops, dental veneers, cosmetic surgery, and tailored clothing that never repeats.  Being a professional pretty person is expensive.

Just Joe

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #4 on: December 30, 2018, 03:48:58 PM »
Let me suggest just becoming a wild and wolly mtn man. Saves on haircuts and shaving supplies. Plus, I'm warm in the winter... The little kids sometimes think I'm Santa Claus riding by on my bicycle. Yeah, need to lose some weight.

remizidae

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #5 on: December 30, 2018, 04:05:26 PM »
$3k/year on hair is chump change for a tv personality.  Basically every woman on television spends more than that on her hair.  And let's not even talk about what tv people (men and women) spend on skin care, makeup, eye drops, dental veneers, cosmetic surgery, and tailored clothing that never repeats.  Being a professional pretty person is expensive.

Yeah. It's not surprising at all that someone whose career depends on his appearance would spend more than average on grooming.

It reveals more to look at a person's saving and spending overall than to look at ONE category of luxury spending. We all have some luxuries, and as we know from MMM himself, luxury spending is compatible with Mustachianism as long as you have the income to sustain that with a decent savings rate.

Dee

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #6 on: December 30, 2018, 04:45:11 PM »
I *am* surprised by this given O'Leary's approach to personal finance as described in his Cold Hard Truth books. I mean, while he can certainly afford it, he certainly could get his hair cut for a lot less. While he explains the frequency and the reason for wanting his hair kept at that level of grooming, I don't get why he pays more for the cuts. I wonder if he is just being a generous tipper, valuing the service he is getting from the hair-cutters? That would make it less "shameful" from my perspective than simply paying more for the haircut in the first instance. But, really, the more I think about it, the less shameful it seems for him to "overpay" (by overpay, I mean pay more than the average market price) for a service he values. I suspect he also enjoys the personal interactions with the people who do his hair and other grooming.

AnnaGrowsAMustache

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #7 on: December 31, 2018, 01:14:55 AM »
Probably tax deductible if he's in the public eye.

Bikeguy

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #8 on: December 31, 2018, 10:24:33 AM »
Long time ago, but Elton John was spending $20,000 a month on flowers.

I consider $3K a year for haircuts quite frugal, in comparison.  :)


http://news.bbc.co.uk/2/hi/uk_news/1024745.stm

tralfamadorian

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #9 on: December 31, 2018, 01:30:06 PM »
Long time ago, but Elton John was spending $20,000 a month on flowers.

I consider $3K a year for haircuts quite frugal, in comparison.  :)


http://news.bbc.co.uk/2/hi/uk_news/1024745.stm

Or Johnny Depp spending $30k/month on wine:

https://www.telegraph.co.uk/news/2017/02/01/johnny-depps-2-million-monthly-spending-including-30000-month/

YttriumNitrate

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #10 on: January 01, 2019, 10:40:35 AM »
As others have mentioned, $3,000 a year for haircuts is nothing for a public figure. Here's one I remember from the mid-90s. I believe the stylist was paid $200 for the cut and the jet fuel costs were orders of magnitude more.
https://www.nytimes.com/1993/05/21/us/haircut-grounded-clinton-while-the-price-took-off.html

Just Joe

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #11 on: January 01, 2019, 01:32:30 PM »
Crazy... Do the haircut on the flight back to DC and send the hair stylist home on a 1st class ticket. It would have been cheaper. DC is a lunatic asylum.

scottish

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #12 on: January 01, 2019, 03:51:29 PM »
Yeah, but he hardly has any hair!    Johnny Depp and Elton John have hair that needs styling.   O'leary, not so much.


thunderball

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #13 on: January 01, 2019, 05:05:31 PM »
O'Leary has also railed against coffee purchases "I'd never pay $3 for something that costs me $0.50 to make at home"  (or something to that effect). 

Then again, I heard him speak at a conference once where he said he rents the same hotel rooms year-round in both LA and NY (I think) just because he wants consistency.   Of course those are likely write-offs too.  But hey, Buffet clips McD coupons - so whatever floats your boat!

Boll weevil

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #14 on: January 02, 2019, 01:39:14 PM »
I would also guess that they work to his schedule and not the other way around. Wouldn't be surprised if they came to him. Even if he does go to their shops, probably 0 wait time. That has to factor into the value calculation too.




JLee

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #15 on: January 02, 2019, 02:40:36 PM »
4% SWR for Kevin O'Leary is $16 million a year.

If I were FIREd on my stash now, that'd be like me paying $1.95/year for haircuts...lol.

Dicey

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #16 on: January 08, 2019, 10:06:58 AM »
Probably tax deductible and required and paid for by the network if he's in the public eye.
Whole different story. If you were on TV, you would be expected to clean up, too.

fordman302

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #17 on: January 08, 2019, 11:31:23 AM »
I wonder how much $ this works out to per hair?

Assuming he has 1/2 left (100,000 avg hair follicles)

1/((100000/2) /80/100) = .16 cents per hair.

MgoSam

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #18 on: January 08, 2019, 12:46:15 PM »
I got no issues with that. He can easily justify it to his accountant and likely writes it off as a business expense. I would too if I were in his situation. Thankfully if I ever do become a TV personality I won't be spending 3 grand a year on haircuts as by the end of this year I will have no hair to get cut.

BTDretire

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #19 on: January 16, 2019, 06:01:42 PM »
If he could just stretch that 10 days between haircuts to 11 days, he would save $265!
 $265 is more than I have spent the last 23 years, my wife cuts my hair about 4 times a year.
I think we are on the third clipper, but it could still be the second.

I'm a red panda

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #20 on: January 16, 2019, 06:06:59 PM »
$3k/year on hair is chump change for a tv personality.  Basically every woman on television spends more than that on her hair.  And let's not even talk about what tv people (men and women) spend on skin care, makeup, eye drops, dental veneers, cosmetic surgery, and tailored clothing that never repeats.  Being a professional pretty person is expensive.

Most women on television have color and styles they need to upkeep.  This guy is nearly bald and what little hair he has is gray.

A friend of mine works in TV (sitcoms mostly), and she gets her haircuts most often on set. He could easily have that done too. It's not a complicated cut to maintain O'Leary's hair.

This $$$$ is near zero to him; but it's still a silly use of money.

sol

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #21 on: January 16, 2019, 10:05:37 PM »
This $$$$ is near zero to him; but it's still a silly use of money.

Sometimes, with very rich people, they spend money on things that look ridiculous for reasons that are not obvious to the rest of us.  Maybe this guy's on-call hair stylist is dating his nephew, and he's trying to give them a break.  Maybe it's his mistress, or his brother's mistress, and he's keeping her on the payroll to keep her quiet and close.  Maybe his tv contract stipulates that all of his grooming costs are paid by the production team, and he has a grudge against them so he overspends on it as form of protest.

I can think of lots of different ways to use relatively tiny amounts of a vast personal fortune to bend the world around me in strange ways, for strange reasons, that outsiders would think are wasteful because all they see is the price tag, and not the underlying motivations.

jim555

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #22 on: January 17, 2019, 06:45:04 AM »
He should go full Howie Mandel and fire his stylist.

jinga nation

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #23 on: January 17, 2019, 07:00:32 AM »
My surprise when I went for a haircut to the hair styling academy, the number of men with shaved heads getting their noggins maintained in tip-top condition.
The academy is always looking for men to practice on. It's a bargain even if I go once a month. Sometimes the cut is free, the sign says tip if you like.

trollwithamustache

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Re: Kevin O'Leary spends $3,000 a year on haircuts
« Reply #24 on: January 17, 2019, 08:43:07 AM »
ladies, you realize he isn't actually spending this money right?

He's got a contract as a TV personality and a lot of these maintenance expenses are just that, business expenses for some entity to maintain their asset to their standards.