| Net Worth: | $5 Billion |
|---|---|
| Age: | 64 |
| Born: | July 31, 1958 |
| Gender: | Male |
| Height: | 1.90 m (6 ft 3 in) |
| Country of Origin: | United States of America |
| Source of Wealth: | Entrepreneur/Investor |
| Last Updated: | March 8, 2023 |
Introduction
As of September 2023, Mark Cuban’s net worth is roughly $5 Billion.
Mark Cuban is a businessman, entrepreneur, and investor from Pennsylvania. Cuban has ventured into many diverse businesses. He made his fortune through the sale of startups MicroSolutions and Broadcast.com in the 1990s.
He later became known as the zealous owner of the NBA’s Dallas Mavericks. He is also known for being a television personality. He is part of such hit TV shows as Shark Tank as well as Dancing with the Stars.
Early Life
Mark Cuban was born on the 31st of July 1958 in Pittsburgh, Pennsylvania. His family made their way to the United States through Ellis Island, after immigrating from Russia.
Cuban grew up in a Jewish working-class family in Pittsburgh. His father spent nearly half a century working at a car shop. His grandfather, Morris Chobanisky, emigrated from Russia and fed his family by selling merchandise out of the back of a truck.
Cuban displayed a tenacity for making a deal and carving out a better life for himself. When Cuban was 12 years old, he sold garbage bags to save up for a pair of basketball shoes he liked. He also traded other items, such as baseball cards, coins, and stamps. At 16, during a workers’ strike at the Pittsburgh Post-Gazette, he made quite a bit of money by transporting newspapers from Cleveland to Pittsburgh.
Education
Mark Cuban’s education took a pretty standard route until his senior year of high school when he decided to skip it and instead start his studies at the University of Pittsburgh. There he joined the Pi Lambda Phi fraternity.
After a year, he transferred to Indiana University in Bloomington. Cuban graduated from the Kelley School of Business with a Bachelor of Science degree in management. Interestingly enough, he chose Indiana University without even visiting its campus beforehand. His decision was based solely on the fact that it had the lowest tuition out of all the top-ranked business schools.
During his college years, Cuban had various business ventures, including disco lessons or a chain letter.
Career
After graduating in 1981, Cuban moved to Pittsburgh and took a job with Mellon Bank. He immersed himself in the study of machines and networking. However, he had no real desire to hang out in his home city for too long. In 1982, Cuban left Pittsburgh for Dallas.
Cuban got a job selling software in Your Business Software, which was one of the earliest PC software retailers in Dallas. He eventually formed his own business, MicroSolutions. He soon became an expert in the field of computers and computer networking. In 1990, he sold the firm to CompuServe for $6 million.
His fortune, however, was far from done. Cuban and a business partner, Indiana alum Todd Wagner, started an internet radio company AudioNet in 1995. The formation was rooted in a desire to be able to listen to Indian Hoosier basketball games online. The company proved to be a huge success.
The company was renamed ‘Broadcast.com,’ and the firm went public in 1998. The company greatly contributed to the development of the Internet, particularly web broadcasting. Broadcast.com is credited with facilitating the first live webcast of Victoria’s Secret fashion show. A year later, Wagner and Cuban sold it to Yahoo! for nearly $6 billion, with $1.4 billion received in Yahoo! shares. Luckily for them, they’ve done it during the height of the dotcom boom. Just a few years later, after the bubble had finally burst, Broadcast.com was discontinued, and Yahoo!’s stock plummeted. Cuban told Real Vision in an interview, that he saved most of his fortune by investing in options that hedged against the stock. To this day, Yahoo!’s purchase of Broadcast.com is considered by experts as one of the worst internet acquisitions in history.
In 2000, Cuban introduced himself to the NBA community when he purchased the Dallas Mavericks NBA team (of which he is the sole owner) for $285 million from Ross Perot Jr. Plagued by poor personnel decisions and mediocre players and coaches, the club experienced more than a decade of non-playoff basketball games. Cuban used his new role as an owner to immediately change that. With his trademark enthusiasm and doggedness, he revamped the culture of the team and its roster, erecting a new stadium and pampering his players. Nowadays, the Mavericks make it to the playoffs on a regular basis. They last won the NBA championship in 2010.
In 2003 Cuban purchased Landmark Theaters, a chain of nearly 60 arthouse movie theatres. His company, 2929 Entertainment, was responsible for such productions as the TV show Star Search and the movie Bubble. It’s worth mentioning that he also owns a film distributor Magnolia Pictures.
Cuban is also no stranger to philanthropy. He founded the Fallen Patriot Fund, which helps the families of U.S. military personnel killed or injured during their service in Iraq. He also made a $5 million donation to Indiana University for the “Mark Cuban Center for Sports Media and Technology.” The Mark Cuban Foundation, run by his brother Brian, also supports various worthy causes on a regular basis.
In December 2021, Cuban purchased an entire town called Mustang, located in Navarro County in Texas. The town has 77 acres and a population of 23. However, it doesn’t seem like he is looking to make any money off of it. As Cuban himself revealed, the $2 million purchase of Mustang was made as a favor to one of his friends, who put up the land for sale and struggled to find any buyers.
Cuban is an investor in multiple startups and has proven time and time again that he believes in companies with a strong vision, particularly in the areas of distributed networking and social software. Some of his most notable investments were in IceRocket, a blogosphere content aggregator, and RedSwoosh, which facilitated the distribution of software and video to users. He also financed the creation of Sharesleuth.com, a website that tracks corruption in publicly traded companies.
In 2022, he started the Mark Cuban Cost Plus Drug Company, aimed at severely reducing the artificially inflated prices of prescription drugs in the United States. The company was co-founded with Alexander Oshmyansky, a radiologist from Colorado. They operate by selling generic versions of branded drugs, reducing the cost by hundreds of dollars. For example, Mark Cuban Cost Plus Drug Company sells Fluoxetine, widely known as Prozac, for $3.90 per 30 tablets. For comparison, the same amount of Prozac costs $22.94.
As of September 2023, Mark Cuban’s estimated net worth is $5 Billion.
Personal Life
Mark Cuban married Tiffany Stewart in 2002 during a private ceremony in Barbados. They have three children: Alexis, Alyssa, and Jake. They live in the Preston Hollow area of Dallas.
In 2018, he was accused of sexual misconduct that has allegedly taken place in 2011 at a bar in Portland, Oregon. However, after a polygraph test and statements from medical professionals, the Portland District Attorney refused to prosecute on the grounds of a lack of evidence.
Highlights
Here are some of the best highlights of Mark Cuban’s career:
- Owner of NBA Dallas Mavericks
- Shark Tank (TV-Show, 2009-)
- How to Win at the Sport of Business (E-Book, 2011)
Favorite Quotes from Mark Cuban
“Sweat equity is the most valuable equity there is. Know your business and industry better than anyone else in the world. Love what you do or don’t do it.” – Mark Cuban
“It’s not whom you know. It’s not how much money you have. It’s very simple. It’s whether or not you have the edge and have the guts to use it.” – Mark Cuban
“It’s not about money or connections. It’s the willingness to outwork and outlearn everyone. And if it fails, you learn from what happened and do a better job next time.” – Mark Cuban
“If you’re prepared and you know what it takes, it’s not a risk. You just have to figure out how to get there. There is always a way to get there.” – Mark Cuban
“Always wake up with a smile knowing that today you are going to have fun accomplishing what others are too afraid to do.” – Mark Cuban
View our larger collection of the best Mark Cuban quotes!
3 Practical Lessons from Mark Cuban
Now that you know all about Mark Cuban’s net worth and how he achieved success, let’s take a look at some of the most practical lessons we can learn from him:
1. There’s no reason it can’t be you
After completing college, Mark moved to Dallas, Texas, where he tended a bar, sold software, and did whatever it took to learn and get ahead – even down to eating mustard and ketchup sandwiches when times were really lean.
But no matter how tough, though, he never gave up. When he felt down, and the odds were against him, he just worked harder.
2. Selling ultimately comes down to connecting and serving
Through his hard work, Mark learned another valuable lesson. If you can sell, you can accomplish just about anything. And the key to selling is connecting with people while serving them.
3. Don’t be a slave to the bank
Like Dave, Mark is passionate about staying debt-free, especially when it comes to beginning a business. In fact, he says, 99% of today’s companies can be started without capital.
Frequently Asked Questions
How much is Mark Cuban worth?
Mark Cuban’s net worth is estimated to be $5 Billion.
How old is Mark Cuban?
Mark Cuban was born on July 31, 1958, and is currently 65 years old.
How tall is Mark Cuban?
Mark Cuban’s height is 1.90 m, which is equal to 6 ft 3 in.
Summary
There’s no question about Mark Cuban being a successful investor and businessman. Cuban is a perfect example of how you can achieve anything if you work hard. Cuban started from the bottom, and now he is on top. From peddling stamps and running newspapers in Pittsburgh, through expertly navigating the dotcom bubble, all the way to purchasing the Dallas Mavericks, the main constants all throughout his life were working hard and never giving up.
As of September 2023, Mark Cuban’s net worth is estimated to be $5 Billion.
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