‘You’ll be free too’: Kevin O’Leary says you’ll wake up one day ‘being a multimillionaire’ if you can do 1 crucial thing in America — here’s what it is and how to do it

Besides the pursuit of freedom, O’Leary says his career has been fueled by one element that he believes is the key to creating wealth: a passion for problem solving.

Passionately solving problems

Entrepreneurs pursue risky ventures because they’re focused on curing pain points for specific customers, O’Leary argues. He believes a similar mindset could help most people accumulate wealth faster.

“You’ll wake up one day and be a multi-millionaire if you solve big problems for people,” he said in the video.

Other successful entrepreneurs have also echoed this approach. Virgin CEO Richard Branson encourages people to “fight tooth and nail to solve problems,” while Shark Tank co-host Mark Cuban called problem-solving “the foundation of being an entrepreneur.”

Here’s how you can apply this mindset to your investments.

Problem-solver stocks

As O’Leary suggests, some companies were created to solve specific problems. If the problem is big enough and the solution is potent, a business can be relatively lucrative.

Cybercrime, for instance, is a huge problem. In 2023, the Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) saw a 10% surge in cybercrime complaints year-over-year. Americans collectively lost $12.5 billion to such crime, up 22% from the previous year.

Companies like Palo Alto Networks Inc (NASDAQ:PANW) and Crowdstrike (NASDAQ:CRWD) are problem solvers in this space. According to Palo Alto Networks, its enterprise firewalls have prevented over 13.46 billion attacks, while Crowdstrike has 17.7% market share in endpoint device security.