NEW YORK: “I would very much like to invest in it,” the co-star of ABC’s reality show Shark Tank and CBC’s Dragon’s Den told CNBC on Wednesday.
O’Leary, who has a net worth in the hundreds of millions and makes investments both on and off camera, says he has already looked at two deals in Colorado’s marijuana industry.
But the investor says laws at the federal level prevent him from putting his money where his mouth is.
“My lawyers tell me a different story right now, because we don’t have a federal mandate to legalize marijuana yet. We have state initiatives,” he explains, adding that the risk of incarceration is still present.