How did Mark Cuban make his Money?

2,162 Views Updated: 05 Jan 2018
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How did Mark Cuban make his Money?

Mark Cuban can be well associated with the idiom ‘Rags to riches’ as he did not belong from a wealthy family who could name him as of the billionaires of the world earlier. He himself had to fend for ways to reach up to that level. Do you know how did Mark Cuban make his money? Let us help you to understand.

The 58 years old and a renowned philanthropist now was brought up in Pittsburgh. His immigrated grand parents came from Russia with ‘Chabenisky’ as their last name. However, his name was reduced to ‘Cuban’ by the immigration officials at Ellis Island.

The investor of the series ‘Shark tank’ was brought up in a family filled with working class people. Also, his mother did a lot odd jobs whereas his father positioned upholstery within cars.

Many people in his initial days had a view that he would work at a mill which he, fortunately, did not do. His own mother desired to make him learn how to lay carpet as she was way too worried about his future. Nobody held any expectations from him and thought he couldn’t do anything but he came out as a hustler.

Also, he had always been up to some mischief since childhood. During his teens, he resold stamps and coins.

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(Image Courtesy: CNBC)

The author of the ebook ‘How to Win at the Sport of Business’ completed his graduation from Indiana University in the year 1981. He has always been a tech savvy person and had a hard time working for other people. Soon, he started with something of his own.  He was also quoted saying that ‘he was ousted from three jobs before starting a company of his own’.

He also started his own computer company namely ’MicroSolutions’ assuming that data-transfer process of buying one disk from one computer to another would be eradicated soon to be replaced by connecting computers together. Though, he sold his company to CompuServe in the year 1990.

Later, Todd Wager, his friend and him started ‘AudioNet’ who turned into ‘Broadcast.net.' Again, they sold their startup to one of the biggest internet giant Yahoo for 5.6 Billion in the year 2000 in the month of April.

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(Image Courtesy: Reddit)

The Mavericks basketball team was bought by Mark Cuban in the year 2000 for 285 million.

Everybody considered him an epitome of idiocy because he paid such a large sum of money just for a team but he did not pay a heed to what people told him. He was indeed a self-made man.

For him, it was reaching the peaks and a dream come true feeling. And also since then, he never held a losing record. NBA Championship was won by DALLAS Mavericks in the year 2011.

In present times, Mark Cuban has around 3.3 billion as depicted by the Forbes magazine and he has also become an eminent entrepreneurship spokesperson.

I hope you liked the article. If you face any problems while reading the article, please feel free to ask us by commenting in the box below.

(Featured Image Courtesy: Steemit)

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Posted by: Axel Posts: (8) Opinions: (7) Points: 785 Rank: 99
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