Mark Cuban is, without a doubt, the richest and most successful investor on ABC’s Shark Tank. The Dallas native is a popular figure on the show and loves to brag about his billionaire status. The entrepreneur currently co-owns 2929 Entertainment and of course, the Dallas Mavericks basketball team.
He is a self-made billionaire and didn’t inherit any wealth from his family. Currently, Mark Cuban has an estimated net worth of $5.1 billion according to Forbes. Cuban is over ten times richer than his Shark Tank colleagues.
Early Life
Mark was born on July 31, 1958, in Pittsburgh, Pennsylvania. His father Norman was a hard worker and an automobile upholsterer. His mother Shirley didn’t have a steady job and consistently changed jobs. He also has two other siblings, Brian and Jeff. He was raised in a working-class family and his paternal grandparents were Romanian Jewish immigrants.
Mark has been a basketball fan since childhood and always wanted the latest gear. This led to his business venture at 12, selling garbage bags to make enough money to buy basketball shoes. Later on, he sold coins and stamps and had a newspaper round at 16.
The young entrepreneur went to the University of Pittsburgh instead of finishing his senior year at high school. He later transferred to Indiana University’s Kelley School of Business and earned a management degree in 1981.
Career Beginnings
While in college, he launched several failed businesses including a bar, a chain letter, and dance classes. After graduating, he got a job with Mellon Bank but later quit because he didn’t like the CEO.
In 1982, he became a bartender and a software salesman for Your Business Software, a PC software retailer. Cuban got fired from the company for pitching his services to a client. Not long after, he started MicroSolutions, a software reseller and systems integrator.
The software company was a huge success and grew revenue to over $30 million. MicroSolutions was then acquired by CompuServe for $6 million in 1990. In 1995, Mark joined Audionet, which eventually became the internet radio company, Broadcast.com.
Four years later, it was acquired by Yahoo! for $5.7 billion and Cuban received $1.4 billion in Yahoo stock. He used some of this money to help fund 2929 Entertainment, which purchased Landmark Theatres, an American movie theater chain.
Further Success
Mark Cuban bought a majority ownership stake in the Dallas Mavericks in 2000 for $285 million dollars. Today, the Dallas Mavericks are worth around $2.4 billion! Over 22 years, the value has increased by over $100 million! In the early 2000s, he started investing in early-stage tech startups.
In 2011, he was invited to join the main cast of ABC’s Shark Tank. The reality show has gone on to become a huge hit and Cuban has made over 200 deals. His top-performing Shark Tank investments include BeatBox Beverages, Rugged Maniac and Ten Thirty One Productions.
Net Worth and Earnings
Cuban has stated, he hasn’t made any money on Shark Tank but is up from a valuation perspective. With the winners come losers and Mark has had his fair share of bad deals on the series. He also reportedly earns $50,000 per Shark Tank episode which should cover any losses.
He has invested in other businesses outside of Shark Tank, 80% of which are crypto-related. Aside from angel investing, he put some of his money into cryptocurrencies such as Dogecoin, Ethereum and Bitcoin. According to Forbes, his estimated net worth stands at $5.1 billion!
Personal Life
Mark Cuban is married to Tiffany Stewart. The couple has been blessed with three children: one boy and two girls. The family resides in a Preston Hollow mansion in Dallas, Texas. Cuban paid $19 million for the property in 2018.
