Mark Cuban’s net worth is $3.2 billion.
Is this entrepreneur just a lucky investor who made his all-time gain during the 1999 dotcom bubble? Let’s see…
Here are five facts about Mark Cuban and why his net worth is in the billions.
1. Mark Cuban’s Net Worth Is $3.2 billion
Mark Cuban, an American businessman, investor, film producer, author, television personality, and philanthropist, has a net worth of $3.2 billion. (Source: “The World’s Billionaires,” Forbes, last accessed March 7, 2016.) However, other sources put this figure at $3.0 billion or even $2.7 billion. (Sources: “Mark Cuban Net Worth,” Celebrity Net Worth, http://www.celebritynetworth.com/richest-businessmen/richest-billionaires/mark-cuban-net-worth/; “Mark Cuban Net Worth,” The Richest, http://www.therichest.com/celebnetworth/celebrity-business/men/mark-cuban-net-worth/.)
2. He Benefitted From the 1999 Dotcom Bubble
Cuban’s smartest financial move of all time is that he managed to predict the dotcom bubble that would eventually burst. He sold his Internet radio company Broadcast.com to Yahoo! Inc. at the height of the dotcom bubble in 1999 for $5.7 billion in stock.
Once his lockup expired, he sold $2.5 billion worth of stock when a Yahoo share was worth $163.00. Had he waited until October 2001, when Yahoo’s share price had plunged to an all-time low of $8.10, he would have only made $125.0 million. (Source: “Mark Cuban Net Worth,” Celebrity Net Worth; http://www.celebritynetworth.com/richest-businessmen/richest-billionaires/mark-cuban-net-worth/, last accessed March 7, 2015.)
Of course, before the deal, Cuban was already a multi-millionaire after co-founding Audionet, which would later become Broadcast.com. (Source: “What is Mark Cuban’s Net Worth?” Dave Manuel, last accessed March 7, 2016.)
3. Mark Cuban Diversified After the Bust
Mark Cuban is an active venture capital investor. He currently has stakes in roughly 20 private companies. Some of those companies include the following: Upstart, Motionloft, Mahalo, mixRank, Slideshare, and Flingo. (Source: Ibid.)
Mark Cuban is also chairman of AXS TV, which is owned by HDNet, Inc. (also founded by Cuban). In fact, Mark Cuban was one of the earliest proponents of high-definition television.
Cuban is also currently a co-owner of 2929 Entertainment, which owns Magnolia Pictures, Landmark Theaters, and Truly Indie, amongst other properties.
Mark Cuban is also a bondholder of Zuffa, LLC, which is the parent company of the UFC. (Source: Ibid.)
Clearly, Cuban has a well-diversified portfolio.
4. Mark Cuban Owns the NBA’s Top Franchise
Mark Cuban purchased a majority stake in the Dallas Mavericks in January 2000 for $285 million from H. Ross Perot, Jr., who maintained a five-percent stake in the company. (Source: Ibid.)
Under Cuban’s direction, the Dallas Mavericks transformed themselves from one of the NBA’s laughing stocks into a perennial contender. The Dallas Mavericks won the championship in 2011, defeating LeBron James and the Miami Heat in the championship final. (Source: Ibid.)
The Dallas Mavericks, according to Forbes, are the 10th most valuable team in the NBA. The Mavericks are currently valued at $1.15 billion, meaning that the value of the team has increased roughly by nearly a billion dollars since Cuban bought the team in 2000. (Source: Ibid.)
5. Mark Cuban Sold Garbage Bags Door-to-Door
Mark Cuban, who was born on July 31, 1958, has been an entrepreneur all of his life. When he was a kid, he sold garbage bags door-to-door in order to pay for a pair of basketball shoes.
In college, Cuban started a chain letter that was reportedly so successful that it paid for an entire year of his tuition. (Source: Ibid.)
Cuban has three children: daughters Alexis Sofia (born 2003) and Alyssa (born 2006), and son Jake (born 2010). They live in a 24,000-square-foot mansion in the Preston Hollow area of Dallas, Texas.
Mark Cuban’s Net Worth by Year
Data source: Forbes