Mark Cuban Net Worth & Biography

By Mixxerly Updated: SEPTEMBER 22, 2021
Mark Cuban Net WorthImage: Mark Cuban © TechCrunch

Introduction

NET WORTH

$4.3B

Mark Cuban is an American billionaire entrepreneur, television personality, media proprietor, and investor. In September 2020, he's ranked #177 on the Forbes 400 list with an estimated net worth of about $4.2B.

In 1999, Yahoo acquired Broadcast.com for $5.7B from Mark Cuban and his friend Todd Wagnersold. Mark is a named inventor of 11 patent families and 23 distinct patent publications for his inventions.

He is the owner of the National Basketball Association's (NBA) Dallas Mavericks, co-owner of 2929 Entertainment, and chairman of AXS TV. He is also one of the main "shark" investors on the ABC reality television series, Shark Tank. As of , Mark Cuban has an estimated net worth of about $4.3B.

At a Glance

Full name: Mark Cuban

Birthday: July 31, 1958

Age:

Net worth: $4.3B

Occupation: Entrepreneur, Investor, Businessman, Media proprietor, TV personality.

Nationality: United States of America

Net Worth

Mark Cuban is one of the most genius entrepreneurs and investors of our time. He was able to correctly predict the dot-com bubble burst and many other important events in the tech and internet industry. His natural talent in business and entrepreneurship enabled him to earn a great fortune and establish a multi-billion dollar business empire. As of , Mark Cuban has an estimated net worth of about $4.3B.

Favorite Quotes from 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
“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
“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
“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 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

Early Life

Cuban was born in Pittsburgh, Pennsylvania. His father, Norton Cuban, was an automobile upholsterer. Cuban has described his mother, Shirley, as someone with "a different job or different career goal every other week." He grew up in the Pittsburgh suburb of Mount Lebanon, in a Jewish working-class family.

His paternal grandfather changed the family name from "Chabenisky" to "Cuban" after his family emigrated from Russia through Ellis Island. His maternal grandparents, who were also Jewish, came from Romania. Cuban's first step into business occurred at age 12, when he sold garbage bags to pay for a pair of expensive basketball shoes.

Some years later, he earned money by selling stamps and coins. At age 16, Cuban took advantage of a Pittsburgh Post-Gazette strike by running newspapers from Cleveland to Pittsburgh.

Instead of attending high school for his senior year, he enrolled as a full-time student at the University of Pittsburgh, where he joined the Pi Lambda Phi International fraternity. He is a "beloved" fan of Pittsburgh's NFL team, the Pittsburgh Steelers.

After one year at the University of Pittsburgh, he transferred to Indiana University in Bloomington, Indiana, and graduated from the Kelley School of Business in 1981 with a Bachelor of Science degree in Management.

He chose Indiana's Kelley School of Business without even visiting the campus because "it had the least expensive tuition of all the business schools on the top 10 list". During college he had various business ventures, including a bar, disco lessons, and a chain letter.

After graduating, he went back to his hometown in Pennsylvania and took a job with Mellon Bank and immersed himself in the study of machines and networking.

Career

On July 7, 1982, Cuban moved to Dallas, Texas, where he first found work as a bartender for a Greenville Avenue bar called Elan and then as a salesperson for Your Business Software, one of the earliest PC software retailers in Dallas. He was fired less than a year later, after meeting with a client to procure new business instead of opening the store.

Cuban started his own company, MicroSolutions, with support from his previous customers from Your Business Software. MicroSolutions was initially a system integrator and software reseller. The company was an early proponent of technologies such as Carbon Copy, Lotus Notes, and CompuServe. One of the company's largest clients was Perot Systems.

The company grew to more than $30 million in revenue, and in 1990, Cuban sold MicroSolutions to CompuServe—then a subsidiary of H&R Block—for $6 million. He made approximately $2 million after taxes on the deal.

In 1995, fellow Indiana University alumnus Todd Wagner and Cuban joined Audionet (founded in 1989 by Chris Jaeb who retained 10% of the company), combining their mutual interest in Indiana Hoosier college basketball and webcasting. With a single server and an ISDN line, Audionet became Broadcast.com in 1998. By 1999, Broadcast.com had grown to 330 employees and $13.5 million in revenue for the second quarter. In 1999, Broadcast.com helped launch the first live-streamed Victoria's Secret Fashion Show. That year, during the dot com boom, Broadcast.com was acquired by Yahoo! for $5.7 billion in Yahoo! stock.

Cuban has also assisted ventures in the social software and distributed networking industries. He is an owner of IceRocket, a search engine that scours the blogosphere for content. Cuban was a partner in RedSwoosh—a company which uses peer-to-peer technology to deliver rich media, including video and software, to a user's PC—later acquired by Akamai. He was also an investor in Weblogs, Inc. which was acquired by AOL.

Cuban has been a "shark" investor on the ABC reality program Shark Tank since season two in 2011.

As of May 2015, he has invested in 85 deals across 111 Shark Tank episodes, for a total of $19.9 million invested. The actual numbers vary because the investment happens after the handshake deal on live television, after the due diligence is performed to ensure the accuracy of the information presented in the pitch room. For instance, Hy-Conn, a manufacturer of removable fire hoses, after agreeing to a deal of $1.25 million for 100% of the company with Cuban, did not go through with the deal.

Since Cuban joined the show in 2011, the ratings for Shark Tank have increased, and also during his tenure, the show has won three Primetime Emmy Awards for Outstanding Structured Reality Program (from 2014 - 2016). As of 2018, Cuban was the second richest of all Sharks to appear on the show, at 4.1 billion, after Richard Branson, at 5.1 billion.

Cuban owns film distributor Magnolia Pictures. Through Magnolia, he financed Redacted, a fictional dramatization based on the 2006 Mahmudiyah killings, written and directed by Brian De Palma. In September 2007, Cuban, in his capacity as owner of Magnolia Pictures, removed disturbing photographs from the concluding moments of the Redacted, citing copyrights/permissions issues.

On January 4, 2000, Cuban purchased a majority stake in the NBA's Dallas Mavericks for $285 million from H. Ross Perot, Jr.

In the 20 years before Cuban bought the team, the Mavericks won only 40% of their games and had a playoff record of 21–32. In the 10 years following, the team won 69 percent of their regular season games and reached the playoffs in each of those seasons except for one. The Mavericks' playoff record with Cuban is 49-57, including their first trip to the NBA Finals in 2006, where they lost to the Miami Heat.