What Is Mark Cuban’s Net Worth?
ABC’s Shark Tank is one of the most popular shows on television and billionaire Mark Cuban is one of the most beloved sharks on the panel. The outspoken and outgoing owner of the NBA Dallas Mavericks – a fact he likes to remind people about every chance he gets — built his wealth the old-fashioned way: by making business deals in the right place at the right time.
He’s an original shark
Unlike special guest stars, Mark Cuban is a regular on Shark Tank and has been since the beginning. The show follows entrepreneurs as they pitch their existing businesses or products to the panel of celebrity millionaire or billionaire investors, hoping to get funding to launch or grow their business.
Even in the Shark Tank, there are different degrees of wealth, however. While all panel members have plenty of pocket change to invest in entrepreneurs, Cuban has the most. With a net worth of $3.9 billion, he’s not only the richest shark in the tank – he’s in the top 25 richest people in America.
How did Mark Cuban become rich?
Back in the 1990s, Mark Cuban made a series of business investments that paid off handsomely. But his story starts out way before that. Cuban is known for having little patience for lazy entrepreneurs and for rewarding any who possess a tireless drive to succeed.
Mark Cuban often tells the story of how as a young boy, he asked his father for a new pair of sneakers. His dad said if he wanted to make money, he had to earn it himself. So he did. “My first business was going door to door selling garbage bags,” Cuban explains. “Who’s going to say to no a 12-year-old kid, right?”
That drive to succeed continued as he grew into an adult. In the early 1980s, Cuban started selling software for a company called Your Business Software. That career move prompted him to start his own company, MicroSolutions. He sold the company eight years later for $6 million and pocketed $8 million.
Cuban’s best business deal ever
The most famous business Mark Cuban was ever involved in is the one that launched him to billionaire status. It was an internet radio company called Audionet which was later renamed Broadcast.com. The channel provided streaming sports, political debates, and more. Cuban took the helm in 1995. By 1999, Yahoo acquired the website for $5.7 billion in stock. Mark Cuban sold his shares for $1 billion.
Mark Cuban purchased the Dallas Mavericks for $285 million in 2000. The team is now worth about $1.9 billion – which is a pretty incredible return on investment.
He lives like a billionaire
Like so many other rich people, Mark Cuban has his moments of frivolity and frugality. For example, he purchased a Jetstream private plane over the internet for $40 million – it’s still the most expensive purchase ever made online. His Dallas home sits on 7 acres with 24,000 square feet and 10 bedrooms, 16 bathrooms, a tennis court, pool, and a separate guest house. His neighbor is George W. Bush. Yet he still likes shopping at warehouse clubs and purchasing items like toothpaste and razors in bulk.
The show Shark Tank really made Cuban into a household name. Since the beginning, he has closed more than 100 deals and invested millions of dollars in entrepreneurs and their business ideas.