'Shark Tank' investor Kevin O'Leary spends $3,000 a year on haircuts — and his reason is quite valid

"Shark Tank" investor Kevin O'Leary is known for closely scrutinizing budding businesses and delivering harsh criticism as well as important lessons. But one of his most noticeable features is the bald patch on his head. However, that doesn’t mean he ignores the little hair he has. According to a report by CNBC, the 70-year-old spends nearly $3,000 a year on haircuts and he visits the barber once every 10 days. He spends all the money simply to appear less comical on screen.

“A guy like me has to think about haircuts all the time. Why? Because I don’t want to look like Bozo the Clown after two weeks, with the sides growing out,” he said. That’s not the only reason since a good haircut also helps with professional ventures as it plays a major role in the first impression.

“I invest in looking great all the time, and the way I do it is [paying for] great clothing, great shoes, and a haircut every 10 days,” O'Leary said. His professional reason for getting a haircut so often is even backed by a study done by Princeton University. O’Leary is not the only “Shark Tank” investor to share this view, Co-star Daymond John is also of the same opinion.

“If you’re somebody that is a team player, and you’re dressed appropriately, and you’re always welcoming to people, and they want to be around you ... then you’ll hopefully be able to grow in the company,” he said. John also believes that proper nail care and investing in good deodorants also go a long way in making a strong first impression.

To people who wonder why he doesn’t trim off the hair on his side and go for a clean bald look, O'Leary said, “I don’t like that look. I like this look. I think I look terrific.” The celebrity investor does however spend substantially more than the average person to get a haircut.

A 2016 study by Square, notes that a man spends $34 for a haircut in the US while for women, the average is $45. Being a shark O’Leary certainly invests in a more premium service for his hair. He has good reason to do so as well, considering that he doesn’t have one designated barber. Instead, he has several contacts in several cities who know how to give his hair the best care.

“I have a bunch of people in different cities that do this because I want them to know every one of my hairs. I don’t have that many, so I want them to have a personal relationship with every hair,” the Canadian businessman explained. Plus, it’s not just client meetings O’Leary has to look good for, it’s for television as well.

“Shark Tank” is known for its sharp and often intimidating investors and it won't be able to maintain that image of one of them turned up with shabby hair sticking out from the sides of his head. This makes paying a small fortune for a trim worth it.