‘Shark Tank’: What Mark Cuban Tells His Kids About Money
Mark Cuban is the sole billionaire on the Shark Tank panel, yet the married father of three makes a point of not spoiling his kids. The business icon tries to guide his children on money matters so they start making the right decisions on an early age.
Mark Cuban says success is finding a job ‘you love to do’
Cuban and his wife Tiffany have two daughters — Alexis, 18, and Alyssa, 14 — and one son, Jake, 11. Given the Shark Tank star’s billionaire status, fans may wonder what wisdom he imparts on his kids when it comes to collecting cash. In a previous interview with Ellen DeGeneres, Cuban revealed he pushes them to find a vocation they enjoy.
“I try not to pressure them,” Cuban told DeGeneres. “I try to encourage them just to get into whatever they want. To me… the way to really be successful, in my mind, is just being able to get excited about something that you wake up everyday looking forward to.”
The NBA team owner believes if your passionate about a specific interest, you can earn a living at it by advancing your skills in that area.
“Then if you can get really good at it and you want to make money at it, you can,” Cuban explained. “And that’s what I try to teach my kids. Find something you love to do.”
‘Shark Tank’ star wants his kids to ‘carry their own weight’
Despite Cuban’s net worth of $4.5 billion, he doesn’t overindulge his children with material items. The Shark Tank panelist began his entrepreneurial path at a young age selling garbage bags door to door, and believes in working for your money.
“I’m not the dad that comes home with a ton of presents,” Cuban said, according to Business Insider. “I am the dad that says, ‘Pick that up. Take that; put it in the sink. No, you have to earn that’.”
Cuban makes it clear to his children that they have to make their own way in the world and not fall back on his fame.
“I want them to recognize that the only thing special about themselves is what they make for themselves,” the tech guru remarked. “They have to be themselves – they can’t be Mark Cuban’s or Tiffany Cuban’s son or daughter. They have to be adults and they have to carry their own weight.”
Mark Cuban wants to raise kids with character
Maintaining a strong work ethic for himself, Cuban continues to set an example of earning your money rather than riding someone else’s coattails. In an interview with Steve Harvey, Cuban explained that he encourages his kids to get jobs so they can make the purchases they want or save for later.
“I’m just not going to write you checks, you don’t just get a credit card, you can’t just buy whatever you want,” he told his kids. “You get a job.”
The Shark Tank investor realizes that his massive bank account can have a negative impact on his kids, so he strives to keep them grounded.
“That’s my biggest fear, that they grow up to be entitled jerks,” he told WFAA in 2015. “It is the scariest thing in my life, ever. After their health, there’s nothing scarier. My wife and I talk about it all the time.”
Season 13 of Shark Tank premieres on ABC on Oct. 8.