Mark Cuban, the owner of Dallas Mavericks is not just an investor but a very recognised businessman. Dallas Mavericks is one of the world’s most successful and recognized franchises. This group has been a source of attraction to fans because of its NBA championship win and for the most of it – its long history of attracting international stars and a very loyal fanbase.
Mark Cuban is a billionaire businessman, investor, TV personality and Film producer. The franchise owner also founded companies like Broadcast.com, Cost Plus Drugs, HDNet fights, 2929 Entertainment and Truly Indie. Wondering if you have seen him on TV? He is one of the main sharks on the show ‘Shark Tank’ and also the richest of them all, he made history by making the biggest-ever offer to the sisters behind the dating app Coffee Meets Bagel in season 6.
The ‘Shark‘ has a net worth of $6.2 billion, and has amassed his fortune over years with his savvy bet on the early internet, cryptocurrencies and owning a sports franchise. Cuban bought the Mavericks for $285 million in 2000, netting him a $3.215 billion profit for the transaction making it the second-highest purchase price in league history.
Almost a year ago, Cuban said he was interested in partnering with the Adelson family — as he’s been a supporter of legalizing gambling in Texas. Currently from what we know he is selling majority stakes in Dallas Mavericks to The Adelson and Dumont Families. Cuban has not yet commented on the sale but rumors are that 57% of the stakes will be given to the new investors but the basketball operations will stay in his hands.
Mark Cuban sold Broadcast for $5.7 billion
Interestingly the billionaire stepped into business at the age of just 12 to be able to purchase a pair of expensive sneakers. A few years later, he began to earn money by selling stamps and coins. At just 16, Cuban took advantage of a Pittsburgh Post-Gazette strike by running newspapers from Cleveland to Pittsburgh. The 65-year-old is married to Tiffany Stewart and is father to two girls Alyssa and Alexis and a son Jake.
In 1995 Cuban and his friend made an internet audio company where users could listen to sports games online. At the time the internet was new and he was criticized considering it would never be a success. In the podcast ‘Starting Greatness‘ he speaks about how he had a hunch about internet broadcasting and saw it as a potential market. Broadcast.com grew to be the only path of least resistance for sports enthusiasts who did not want to keep a radio on their desk.
In 1999, Broadcast.com was acquired by Yahoo for $5.7 billion in stock becoming Yahoo’s biggest ever acquisition. He says, what made it a success despite so much criticism was his belief in his product and its market. The ‘Shark‘ is also stepping off the show in the next season to be able to spend a few summers with his teens before they go off on their own. Looks like the billionaire now wants to enjoy a share of his fortune.