O'Leary Backs Trump's GOP, Says US Is Just the Default Bet

Kevin O'Leary is sticking with President Donald Trump's Republicans heading into the midterms. But don't call it a passionate endorsement. The O'Leary Ventures chairman and Shark Tank investor frames his position as a default pick, arguing no other market offers global capital a better deal. He never actually said Trump's name or the Republican Party's.

O'Leary opened by conceding that households are feeling real financial strain, then pivoted to the ballot box. He asked what the better offer is, calling the US the default economy for investors worldwide and claiming 52 cents of every internationally invested dollar lands here. He gave no source for that number. The 2025 Economic Report of the President measured the US share of global gross capital inflows at about 41%, covering 2022 and 2023.

His stance has wobbled all year. In August he called the economy strong across the board, which Benzinga reported could benefit Trump's administration. By December he was saying Trump was pitching his economic record too early, while voters still felt inflation. This month he added that strong corporate earnings don't make life more affordable for households.

Republicans enter the vote defending a 53-47 Senate majority. The headwinds are stacked: persistent inflation, a war with Iran and falling Trump approval. Economist Peter Schiff wrote on Oct. 22 that a pre-election crash was possible, pointing to stock valuations and inflation.

History offers a counterweight. 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 produce gridlock in Washington, kneecapping crypto-friendly regulation like the Clarity Act. That same gridlock would leave markets weighing his default-economy pitch against the inflation and valuation risks critics like Schiff keep flagging.