Mark Cuban Biography & Net Worth
Mark Cuban Biography & Net Worth
|Popular Name:||Mark Cuban|
|Birth Name:||Mark Cuban|
|Birth Date:||31 July 1958|
|Birth Place:||Pittsburgh, Pennysylvania|
|Children:||Alexis sofia Cuban, jake Cuban And Allysa Cuban|
|Profession:||Dallas Mavericks CEO, Business Man, Investor, Author And TV Personnel|
|Net Worth:||$4.5 Billion|
|Last Updated:||December 2020|
Mark Cuban is popular as the proprietor of National Basketball Association team, Dallas Mavericks and also as one of the “shark” investors on the ABC unscripted TV series, Shark Tank. He is also the co-proprietor of 2929 Entertainment and chairman of AXS TV. Mark Cuban net worth is estimated at $4.5 billion.
Cuban is a man of many parts who has also written a book and this article will provide details of Mark Cuban net worth, his biography and business exploits.
Mark Cuban Childhood
Cuban was born in Pittsburgh, Pennsylvania to Norton Cuban and Shirley Cuban. His dad was a vehicle upholsterer while his mum was someone who had a distinct profession objective every week as portrayed by Mark. He has two brothers whose names are Brian and Jeff Cuban. His great grand father changed the family name to “Cuban” from “Chabenisky” after he emigrated from Russia through Ellis Island. Mark is of Jewish ancestry and his maternal grandparents who were also Jews, originated from Romania. He started out experimenting in business as a 12 year old when he sold garbage sacks to enable him afford a some costly b-ball shoes. He also sold stamps and coins and at 16 was running papers from Cleveland to Pittsburgh during the Pittsburgh Post -Gazette strike.
He enlisted at the University of Pittsburg as a full time student rather than attend high school for his senior year. At the university he joined the Pi Lambda Phi International Society. He transferred to Indiana University in Bloomington, Indiana after one year at Pittsburg and graduated from the Kelley School of Business with a B.Sc in Management in 1981. He choose Indiana’s Kelley School of Business as it had the cheapest tuition on the top 10 list of business schools. He was actively involved in business during college with investments in ventures such as a bar, disco exercises and a networking letter. Mark gathered about $15,000 which he used to buy a bar business. He ran the bar so well that it easily became the best student bar around. A professor at his college described his move as “brave” admitting that he had never seen a student, undergrad or MBA understudy, run a business while in school.
Cuban moved back to Pennsylvania on graduation and took up a job with Mellon Bank.
Mark Cuban Career / Business Exploits
Mark moved to Dallas, Texas in 1982. He first took up a job as a bartender before moving on to work with Business Software, a PC software retailer, as a salesperson.
Mark has always looked out for business opportunities and his first business after college was MicroSolutions, a PC organization. He was able to grow the business with the support of some of former customers at Business Software to a revenue in excess of $30 million. He sold the business in 1990, after seven years to CompuServe for $6 million. and made a profit of $2 million after taxes.
Cuban teamed up with Chris Jaeb and Todd Wagner, a fellow Indiana alumnus, to start Audionet in 1995. They were able to combine their mutual interest in Indiana Hoosier college basketball and webcasting . In 1998, Audionet was renamed Broadcast.com and the company had grown to about 330 employees with a second quarter revenue of $13.5 million. Broadcast.com became one of the principal internet radio stations on the planet and in 1999 helped launch the first live-streamed Victoria’s Secret Fashion Show . In 1998, Broadcast.com had its IPO and the company was worth about $1 billion after the stock soared 250% on its first day of trading.
Broadcast.com was acquired by Yahoo (presently Altaba) for $5.7 billion in 1999, less than 9 months after its IPO. This catapulted Mark Cuban to billionaire status as he took in $1.7 billion in Yahoo stock. He foresaw the dot.com bubble and sold most of his Yahoo stock that same year.
Cuban and Wagner are involved in another venture , 2929 Entertainment, which is involved in vertically integrated production and distribution of films and videos. The firm also owns Landmark Theatres, a chain of 58 arthouse movie theaters, it purchased on September 24, 2003. .
Mark Cuban is also the co-founder of AXS TV (formerly HDNet) with Philip Garvin. It is the first high definition satellite TV net work.
He is also heavily invested in several startups which include; IceRocket , RedSwoosh which was acquired by Akamai, Weblogs, Inc. which was also acquired by AOL and several others.
On Shark Tank, Cuban has been an investor in the reality program since 2011. He has gone on to invest about $19.9 million in 85 deals as at May, 2015.
Cuban purchased a majority stake in NBA’s Dallas Mavericks from H. Ross Perot, Jr for $285 million on January 4, 2000. The team had been under performing and for 20 years prior had only won 40% of their games. Cuban has transformed the team and in 10 years post purchase, they have won 67% of their games and reached the playoffs in all except one of those years. The Dallas Mavericks became NBA champions after defeating Miami Heat on June 12, 2011 to win the NBA Finals. Cuban often attends road games sitting alongside fans and donning team jerseys. Forbes estimated the Dallas Mavericks to be worth $2.25 billion as at February 2019.
Age, Weight And Height
Mark Cuban is 61 years old , weighs 82kg and is 1.89m in height
Mark Cuban Net Worth
Mark Cuban net worth is estimated at $4.5 billion. His wealth has been accumulated from his various investments and business projects. He sold his company MicroSolutions in 1990 for $6 million and also sold Broadcast.com for $5.7 billion to Yahoo in 1999. He netted over $1 billion in personal profits from the sale of Broadcast.com and has since since gone on to set up other successful business ventures.
Mark Cuban owns nearly $1 billion worth of stock in Amazon and also owns substantial shares in Netflix.
He owns a Gulf stream V jet which he bought for $40 million in October 1999.
Mark Cuban net worth in 2020 includes his real estate holdings. He lives in a 24,000-square-foot mansion in Dallas with his family.
Cuban paid $19 million for a beachfront California mansion in December 2018, making it Laguna Beach exclusive Montage Residences community most expensive sale. The house which is 7,867 square foot has a pool, six bedrooms, seven and three quarters bathrooms and walls of windows which open up to outside space and provide clear views of the beach and ocean.
Mark Cuban Personal Life
Mark Cuban is married to Tiffany Stewart and they have three children together. They got married in September 2002 at a private ceremony in Barbados. Mark had his first child in 2003, the second in 2006 and the third in 2010. The family resides in Preston Hollow zone of Dallas.
Mark Cuban net worth is a story of hard work and perseverance. He started out at young age with enthusiasm and with hard work made it to the billionaire list.