Mark Cuban: This 1 Thing Will Help You Build Wealth

Mandatory Credit: Photo by ETIENNE LAURENT/EPA-EFE/Shutterstock (10320795dj)US businessman Mark Cuban poses for the photographers upon his arrival for the 2019 NBA Awards at Barker Hangar in Santa Monica, California, USA, 24 June 2019 (issued 25 June 2019).

Mark Cuban is an American businessman known for his work as a shark on “Shark Tank” and for his ever-growing portfolio of businesses. He is the owner of the NBA’s Dallas Mavericks and the founder of Cost Plus Drugs, a pharmaceutical company that provides pharmaceutical drugs at a reduced cost to customers in need.

Chosen by GOBankingRates as a Top Money Expert, Cuban shares his expertise and provides tips on how to build wealth and begin an investment journey.

What’s the No. 1 thing everyone should do to build wealth?

Have appreciable assets.  Whether it’s a home or a mutual fund — something that can appreciate in value over the long term 

What metrics do you look for/what research do you do to determine if a company is a good investment? Are there also non-quantitative factors you look for?

For private companies, it’s a lot of things. Is it a great entrepreneur, is it a strong product, is it differentiated? For public companies, I recommend people focus on investing in funds. Investing in individual stocks has gotten harder over the years because there is so much money chasing stocks.

What advice would you give someone wanting to start investing but unsure where to begin?

Learn as much as you can but be patient. There are no shortcuts.

Make Your Money Work Better for You

Jaime Catmull contributed to the reporting for this article.

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