Mark Cuban net worth is a subject that intrigues a lot of folks. So does the show Shark Tank, Dallas Mavericks, and the brains behind them as well as other controversies.
With an estimated Net Worth of $4.1 billion, he has made it into the Forbes list of the world’s billionaires and also one of the wealthiest entrepreneurs in America. He is also one of the most controversial.
As with most success stories, Mark Cuban too had a humble start. Let us find out how he earned his billions and became one of the most iconic figures in the world of business.
Mark Cuban Net Worth in 2019
According to Forbes, Mark Cuban has an estimated Net Worth of $4.1 billion, making him one of the wealthiest people in America.
Before we talk about Mark Cuban net worth, let us go back to where it all started. He was born in July 1958, in Pittsburgh, Pennsylvania. Hailing from a working-class family, Cuban had a very modest beginning. At an early age, he displayed his interest in business, and his skills were exceptionally high.
In one of the interviews, Cuban shared a story of when he was just a 12-year-old boy. He had asked his father to give him some money so he could go buy a pair of basketball shoes which he liked very much. But the shoes were expensive.
Essentially, his father told him to get a job and pay for the new shoes himself. Fired up by his father’s response, he started selling garbage bags to pay for the shoes. At just 12 years, he learned to make profits.
First taste in business
A few years later, when he was 16, a strike at the local newspaper, Pittsburgh Post-Gazette, provided him with an opportunity to make real money. He immediately began selling newspapers in his area by ordering them from another city.
During his college years, he continued doing business to pay the fees. He offered dance lessons for $25 an hour. Along with his friends, he bought a bar which was located near the college. The bar became the student’s favorite hangout in the whole town.
After graduation, Cuban left his hometown, Pittsburgh and went to Dallas, Texas in 1982. Here he started working as a bartender, then as a salesman for a company called Your Business Software, where he was later fired.
Establishing Micro Solutions and beyond
He started a company of his own called Micro solutions after he was fired by Your Business Software. He was helped by one of the previous customers at Your Business Software. Mark Cuban has described his firing as the turning point in his business career.
Micro solutions, a software company, grew exponentially within a short time. He went on to sell it to CompuServe for $6 million in the year 1990. Cuban wanted to make an early retirement, and he started traveling around the world. But he was destined for a higher purpose.
Retirement is damned, as just five years later in 1995, he got into another business called the AudioNet with a business partner, Todd.
How AudioNet became Broadcast.com
Cuban was approached by a man named Christopher Jaeb. Jaeb wanted Cuban to fund his business which was an online service which streamed Indiana Hoosier games. Sharing a similar interest, Cuban along with Todd, and Jaeb started running the AudioNet at full swing. They started broadcasting many other sports channels, radio programs, product launches, and even a fashion show. Cuban and Todd bought most of Jaeb’s share, and in the year 1998, they renamed AudioNet to Broadcast.com.
Broadcast.com became increasingly popular, and it even live-streamed the first Victoria’s Secret Fashion show in the year 1999. That same year, Broadcast.com was acquired by Yahoo for almost $6 Billion.
After the Broadcast.com frenzy, Mark Cuban began seeking out a new adventure. He began investing in a number of businesses. In early 2000, he made one of his biggest purchases. Cuban bought the major chunk of the Dallas Mavericks stakes for an eye-watering $285 million.
At the time of the purchase, Dallas Mavericks was at the bottom of the league, and the team was one of the worst. However, the team under the management of their charismatic leader rose higher and higher. The team became NBA champions in 2011. Today, the Dallas Mavericks is considered to be one of the most valued teams, and their price tag is $2.25 billion.
Apart from being the owner of Dallas Mavericks, Mark continues his business adventure with his old-time business partner Todd Wagner. Together they own 2929 entertainment. Founded in 2002, it engages in production, distribution, development, and film exhibition. One of their successful movie productions includes Goodnight and Good luck. It was directed by George Clooney. The cost of the production was $7 million and grossed an impressive $56 million at the box office.
Mark Cuban co-founded the AXS TV which was formerly known as HD net along with Philip Garvin. It was the first High Definition satellite television network which specializes in comedies, music, mixed martial arts, and movies.
Magnolia Pictures. 7
Cuban also owns a film distributor company Magnolia pictures, and it is a subsidiary of the 2929 entertainment. In 2011, Cuban put up the company for sale but said that he would not make the deal unless the offer is very compelling.
Mark Cuban appeared in several shows and movies. This makes him a popular media personality. The most notable one among the shows is the shark tank. Cuban has made over 80 deals in 111 episodes of the shark tank, which sums up to almost $20 million.
Cuban is an iconic figure in the world of business. His love and passion for business propelled him to where he stands today- a self-made billionaire. In spite of a rough ride, Mark Cuban has always found a way to adapt to the situation, improvise and handled each obstacle like a champion.
In case you’re wondering how he spends his money, he has donated more than $5million to help the loved ones of the US military personnel who were seriously injured or killed in action, through his charity foundation called “Fallen Patriot Fund.”