Kevin O'Leary signaled he is staying the course with President Donald Trump's Republicans ahead of the midterms, framing his support as a default choice because no other market offers global capital a better deal. He did not name Trump or the Republican Party directly, but the ongoing vote puts control of Congress at stake.
Why O'Leary Calls the US the Default Choice
O'Leary, chairman of O'Leary Ventures and a "Shark Tank" investor, first acknowledged that households feel financial strain. He then reframed the vote as a choice between competing offers.
"I understand people are feeling financial pressure. But when I look at the choice in front of voters, I ask: what's the better offer? The U.S. remains the default economy for investors around the world. With 52 cents of every internationally invested dollar coming here, I'm staying the course," he said.
O'Leary did not provide a source for the 52-cent figure. The 2025 Economic Report of the President measured the U.S. share of global gross capital inflows at about 41%, covering 2022 and 2023.
In August, he called the economy strong across the board, which Benzinga reported could benefit Trump's administration. However, in December he said Trump was pitching his economic record too early while voters still felt inflation. This month, he added that strong corporate earnings do not ease household affordability.
Can a Default Economy Hold if Voters Disagree?
Republicans entered the vote defending a 53-47 Senate majority. Persistent inflation, a war with Iran and falling Trump approval are among the major headwinds for the standing party.
Economist Peter Schiff wrote on Oct. 22 that a pre-election crash was possible, citing stock valuations and inflation. Since 1982, the S&P 500 has risen in the year after every midterm, according to BeInCrypto's S&P 500 midterm history.
O'Leary also warned on Oct. 30 that the midterms could create gridlock in Washington, impacting crypto-friendly regulations like the Clarity Act. Such gridlock could also leave markets weighing his default-economy case against the inflation and valuation risks that critics such as Schiff cite.
