- Mark Cuban turned 60 years old on July 31, 2018.
- Cuban has earned billions from his many business ventures and investments, including “Shark Tank,” the Dallas Mavericks and more.
- The entrepreneur has made news for being in favor of legalized sports betting, his friendship with Warren Buffett and his potential political candidacy.
Entrepreneur, investor and philanthropist Mark Cuban began building his fortune in the 1990s with the sale of his technology startup, MicroSolutions. Nearly three decades later, his business ventures and stakes in the entertainment industry have helped his net worth skyrocket.
Mark Cuban Net Worth: $3.7 Billion
Five fast facts about Mark Cuban:
- Net worth: $3.7 billion
- Age: 60
- Primary sources of wealth: shareholder in Landmark Theatres and Magnolia Pictures, investments
- Owner of the Dallas Mavericks
- CEO of AXS TV
The billionaire has made most of his money through media companies and investments but has also expressed an an interest in running for president in 2020.
Media Ventures and Investments: ‘Shark Tank’ and More
The start of Cuban’s successful business career came shortly after his college days when he founded computer consulting company MicroSolutions. In 1990, he sold the company to CompuServe and used profits from the sale to create Broadband.com, an audio streaming service. Broadband.com eventually sold to Yahoo, Inc. for $5.6 billion. Mark Cuban currently has stakes in multiple entertainment companies, including Landmark Theatres and Magnolia Pictures, and he is CEO and chairman of AXS TV.
Cuban has been appearing as a “shark” investor on the reality competition show “Shark Tank” since 2009. He proposed the largest deal in the show’s history, but surprisingly, the $30 million offer was turned down.
Mark Cuban’s Sports Team Success
The mogul is also the owner of the Dallas Mavericks. Under Cuban’s guidance, the NBA basketball team — bought for $285 million — has reached a value of $1.9 billion. The Mavericks became NBA World Champions in 2011, the first time in the team’s history. As of 2018, they are listed as the ninth most valuable NBA team by Forbes.
Cuban was one of many to speak out in 2018 when the Supreme Court declared a federal ban on sports betting and ruled the activity as unconstitutional. The ruling paves the way for further challenges to gambling on several sports. Cuban claimed that the legalization of sports gambling makes teams like his even more valuable by bringing an underground industry to light and dramatically increasing participation.
Mark Cuban’s Focus on Business
A native of Pittsburgh, Cuban showed a business-savvy nature and an affinity for startups during his youth when he worked as a door-to-door garbage bag salesman at the age of 12 and taught disco lessons to pay for his studies at Indiana University. During his time in college, Cuban was the owner of the campus’ most popular bar. As he has become more and more successful, he has been vocal about his ideas about money and finance.
Now an established business figure, Cuban still makes sure to keep in touch from others he can share ideas with or learn from. In June 2018, Cuban was spotted with fellow billionaire investor Warren Buffett at a Dairy Queen in Omaha, Neb. Financial blogger John Schmoll claimed to have overheard Buffett praising the benefits of long-term investing, but in terms of money talk that day, Cuban confirms that he paid for both of their ice creams.
Mark Cuban’s Philanthropic Work
Beyond entrepreneurship and investing, Cuban has shown interest in giving back as well. Founded and funded by The Mark Cuban Foundation, The Fallen Patriot Fund provides financial aid to the families of soldiers who were killed or seriously injured during Operation Iraqi Freedom. So far, the fund has provided over $5 million in grants to families.
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