American businessman and “Shark Tank” star Mark Cuban first wet his feet as an entrepreneur by selling garbage bags door to door as a teen. Shortly after graduating from Indiana University, Cuban started his first company, the computer consulting service MicroSolutions. He sold the company to CompuServe in 1990.
In 1995, Cuban partnered with his long-time friend Todd Wagner to create Broadcast.com, which allowed for the streaming of audio via the internet. Four years later, he sold the company to Yahoo for $5.7 billion.
Since that time, Cuban has acquired the Dallas Mavericks and has invested in a growing portfolio of small businesses via “Shark Tank.” He is also a bestselling author, a multiple patent holder and the executive producer of numerous films. Cuban has a net worth of $5.1 billion, according to Forbes.
Why He’s a Top Money Expert:
Cuban’s business acumen has led him to be an extremely successful investor, which is why he’s an audience favorite on “Shark Tank.” Cuban has invested $22 million during his time on the show, Forbes reported. In addition to his business expertise, Cuban is also a notable investor who isn’t shy about sharing his views on what assets are worth investing in, and which aren’t.
What’s the No. 1 thing everyone should do to build wealth?
Have appreciable assets, whether it’s a home or mutual fund — something that can appreciate in value over the long term
What metrics do you look for to determine if a company is a good investment?
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 who wants to start investing but is unsure where to begin?
Learn as much as you can but be patient. There are no shortcuts.