How much is Mark Cuban worth?
|Net Worth:||$4.2 Billion
|Date of Birth:||July 31, 1958|
|Country:||United States of America|
Who Is Mark Cuban
Being worth billions of dollars after having built an empire in the public eye, Mark Cuban is an influence on every American with cable TV. The entrepreneur and television personality became famous on Shark Tank and has invested in tens of companies that are now known worldwide, making literally billions of dollars off tiny investments, and is currently the owner of the basketball team, the Dallas Mavericks. He has been honored by the NBA and awarded several accolades for his contribution to the sport. Cuban currently sits at 169 on Forbes’ list of the 400 wealthiest human beings on the planet and is even America’s favorite to run for president of the United States in the next election.
Mark Cuban has a net worth of $4.2 million dollars, as of 2020.
How Did Mark Cuban Get So Rich?
Cuban has a wealth of billions and owns and invests in dozens of financially lucrative companies. After opening the tiny startup company Broadcast.com, Cuban sold it for $5.7 billion. And years ago, Cuban invested in Netflix when the company’s share price was as little as $50, Netflix is now worth more than $500 per share. And just like he did with Netflix, Cuban bought in to Amazon when the share price was just $500, and now each share is worth $3000. Though Cuban has claimed that he doesn’t trade on the stock market as much as he used to, he does stick with a few favorites.
Though some of his deals on Shark Tank don’t always go through, as the investment actually happens after the handshake that is televised, Cuban has become famous for investing in some highly lucrative startups. Some of his successful televised investments include throwing one million dollars in to Ten Thirty One Productions, Rugged Maniac, and Beatbox Beverages.
Cuban consistently earns millions of dollars thanks to owning the Dallas Mavericks, as before he bought them, the team only won a pitiful 40% of the games that they played. Since Cuban bought the team, the percentage of games that they win per season has increased by almost 30%, and they have even reached the NBA finals a couple of times.
Why Is He So Famous?
In 2011, the now famous television personality first joined the insanely popular show Shark Tank in its second season. The show follows different inventors and business men try to convince a panel of entrepreneurs to invest in their products and services. In the 100+ episodes that Cuban has starred in, he has secured more than 85 deals and invested more than $20 million dollars in to practical inventions and dot com companies. His stern personality and calculating business brain made him one of the most popular investors on the show.
The entrepreneur is arguably most famous for owning the Dallas Mavericks, having a majority stake in the NBA team, which cost him $285 million in the year 2000. Since buying the team, the Mavericks have performed much better than they did in their previous years, and it’s in part due to Cuban sitting amongst fans and wearing the team’s journeys instead of sitting in the boxes above, which is how most team owners watch the games. Previous owners have even tried to sue Cuban for miss-managing the team, but courts have since been dismissed the case as the team went on to win the NBA finals in 2011, which was under Cuban’s management.
Cuban is well-known for being rather outspoken on the NBA courts. He has been fined several times by the NBA due to criticizing their and the referees’ decisions. In total, he has been fined closed to $2 million over 13 incidents. Because of these statements, Cuban always makes headlines in the papers and online, stirring controversy. The verbal fights got so ridiculous that a former manager claimed that Cuban couldn’t even manage a Dairy Queen, so Cuban literally went on to manage a Dairy Queen in Texas just to prove him wrong. Cuban also matches any NBA fines he gets by giving the same amount of money to charity.
Something that is becoming more and more often, Cuban is very politically active, often supporting the democrat party. He backed Obama in 2008, and he even antagonized Trump by offering the current president one million dollars if he shaved his head after he criticized Obama. Since then, Cuban has been one of Trump’s biggest critics and he is currently backing Joe Biden for the 2020 Election.
Just for good measure, as if Cuban doesn’t appear on enough reality and news shows and regularly make media headlines, he has appeared in loads of sitcoms and movies as himself. He made a cameo in numerous television show and movies, including American Dad, Bad Teacher, Boy Meets World, Billions, Entourage, and even Sharknado 3.
What Makes Cuban So Successful?
The passionate trader may have plenty of criticism thrown thrown his way for his diplomatic stance on trading stock, which is by buying shares in huge companies and holding for years, but people still follow his guidance as it has proved to work. He also implements this strategy in to business as well, as he is not just looking for a no-hassle business to make some quick cash on Shark Tank, but he is looking for long term business relationships with customers by selling products and providing services of value.
Cuban moves with the times and is great at spotting potential in advancements, as over two years ago, the entrepreneur implemented Bitcoin as a possible payment option to purchase Mavericks season tickets, being the first NBA team to do so. He is also great at foreseeing people’s futures and spotting potential in developers, as Cuban discovered Michael Dell, the founder of Dell computers. This might be his best characteristic and most important trait to have if you are a venture capitalist.
Cuban has also found major success for distributing films unlike the ones you find being made in Hollywood. The TV personality owns the film distribution company, Magnolia Pictures, which selects very specific films to distribute and has produced some extremely popular foreign movies, such as Monsters and District 13: Ultimatum. The company is most famous for distributing independent horror movies including Shrooms, Donkey Punch, VHS, and the REC series. One of Magnolia’s distributions was the Japanese drama Shoplifters, which won the most prestigious award in the movie industry, the Palm D’Or at the Cannes Film Festival.
Though some people may find him outspoken and way too passionate when managing the Mavericks, it’s Cuban’s fiery persona that made him the superstar venture capitalist he is known as. Cuban has an unbelievable net worth of $4.2 billion, and that will continue to grow for as long as he has that zealous ambition. In the years to come, he may become more than just an investor and follow in another TV personality’s footsteps by running for President, as Cuban has always been considered as a potential presidential candidate by American audiences.