Mark Cuban – How He Became A Billionaire

Born in Pittsburgh in 1958, entrepreneur Mark Cuban has ventured into many diverse businesses.

He made his fortune through the sale of startups MicroSolutions and Broadcast.com in the 199s. And later became known as the zealous owner of the NBA’s Dallas Mavericks.

Cuban has also invested in film production and has appeared on such TV series as Dancing with the Stars and Shark Tank.

His grandfather, Morris Chobanisky, emigrated from Russia and fed his family by selling merchandise out of the back of a truck.

Mark Cuban Biography
  • Save
How Mark Cuban started with just $60 in his pocket and became a billionaire

Mark Cuban Early Life Profile

Entrepreneur and professional sports team owner Mark Cuban was born on July 31, 1958, in Pittsburgh, Pennsylvania.

Cuban had a typical middle-class childhood. His father, Norton, spent nearly half a century working at a car upholstery shop.

In 1995, Mark and long-time friend Todd Wagner came up with an internet-based solution to not being able to listen to Hoosiers Basketball games out in Texas. That solution was Broadcast.com – streaming audio over the internet.

In just four short years, Broadcast.com (then Audionet) would be sold to Yahoo for $5.6 billion dollars.

His Cumulative Wealth Making Profile

“I had nothing. So I had nothing to lose, right? It was all about going for it,” says Cuban.

In Dallas, Cuban got a job at a company called Your Business Software. “I sold software and I got fired, ” says Cuban, on Arianna Huffington’sThe Thrive Global Podcast.

“I got fired because he wanted me to open up the store. It was a software retail store — I had to sweep the floor, make sure the windows were clean, make sure the store was open on time.

“I had a big deal I wanted to close. And I thought, ‘Okay, I’m gonna let Michael (his name was Michael) know that I’ve got everything taken care of.

For sure, someone’s watching my shift if you will, and I’m gonna go pick up a $10,000 check,’” he tells Thrive Global.

“I figured when I came back he’d be thrilled to death, right? Fired me on the spot,” says Cuban.

“I had quit or been fired from three straight jobs,” says Cuban on ABC’s “Shark Tank,” where he is a judge.

But the Experience was not Wasted

Cuban had never been into technology: “I took one computer class and cheated at it,” he says.

“But when I got one of my first jobs out of school using technology, it was like, wait, I love this. I’ve taught myself the program, I could go seven hours, eight hours without taking a break thinking it was 10 minutes because I was concentrating so hard and so excited and really loved it. And that’s when I realized that I can be really, really good at technology.”

So Cuban started his own business, MicroSolutions. He sold it to CompuServe for $6 million in 1990.

Five years later, Cuban and a pal, Todd Wagner, created an online streaming audio service called Broadcast.com so they could listen to Hoosiers games in Texas. Yahoo acquired the business in 1999 for $5.7 billion in stock.

The Mark Cuban Dynasty Genesis

On July 4, Mark Cuban tweeted that it was the anniversary of the date he left Indiana University in Bloomington “with $60, hole in my floorboard, case of oil in the trunk & a floor to sleep on in Dallas.”

A few days later, Cuban, then 23, moved into a $600-a-month three-bedroom apartment with five other guys.

His Business Career Genesis

“It doesn’t matter how many times you fail. You only have to be right once and then everyone can tell you that you are an overnight success.” – Mark Cuban.

Since the age of 12, Mark has been a natural businessman.

For instance, selling garbage bags door to door, the seed was planted early on for what would eventually become a long-term success.

After graduating from Indiana University – where he briefly owned the most popular bar in town – Mark moved to Dallas.

After a dispute with an employer who wanted him to clean instead of closing an important sale, Mark created MicroSolutions.

Of course, a computer consulting service. He went on to later sell MicroSolutions in 1990 to CompuServe.

Mark Cuban Dallas Mavericks Acquisition

“Literally, Cuban landed on our doorstep flat-busted broke,” Greg Schipper, one of those roommates, tells the Dallas News.

Besides having no money, Cuban, who his roommates nicknamed “Slobbins,” according to the Dallas News, had student loan debt.

Since his acquisition of the Dallas Mavericks in 2000, he has overseen the Mavs competing in the NBA Finals.

As a matter of fact, for the first time in franchise history in 2006 – and becoming NBA World Champions in 2011.

They are currently listed as one of Forbes’ most valuable franchises in sports.

In addition to the Mavs, Mark is chairman and CEO of AXS tv, one of ABC’s “Sharks” on the hit show Shark Tank, and an investor in an ever-growing portfolio of businesses.

He lives in Dallas with wife Tiffany, daughters Alexis and Alyssa, and son Jake.

Mark Cuban Net Worth
  • Save
Mark Cuban has a Net worth of $4.1 Billion. Photographer: David Paul Morris/Bloomberg via Getty Images

Pictured above, is Mark Cuban, the billionaire owner of the National Basketball Association’s (NBA) Dallas Mavericks basketball team, speaks at the 2017 South By Southwest (SXSW) Interactive Festival at the Austin Convention Center in Austin, Texas, the U.S., on Sunday, March 12, 2017.

The SXSW Interactive Festival features a variety of tracks that allow attendees to explore what’s next in the worlds of entertainment, culture, and technology.

His Total Network and Proceeds

Mark Cuban is worth $4.1 billion — and he says going 7 years without a vacation helped him get there.

Furthermore, he has earned his fortune through a lifetime of business deals. Including,  the $5.7 billion sale of Broadcast.com, his ownership of the Dallas Mavericks, and investments made on ABC’s “Shark Tank.”

Mark has spent millions on private airplanes, a yacht, and a luxurious Dallas home, not to mention $2 million in fines from the NBA.

Cuban said his rise to wealth didn’t come easy while speaking during the Dallas Startup Week conference.

The mogul said he lived in a “dumpy” apartment with numerous roommates, stole towels from the Holiday Inn, and didn’t take a vacation in seven years.

How Mark Cuban Spends His Wealth

For your Takeaway,

As can be seen, from the above profile, Cuban now owns the Dallas Mavericks basketball team, is an investor and stars on “Shark Tank.”

Even as a billionaire, Cuban still stays on top of what’s happening in the tech industry.

For example, Mark is currently taking a Python computer programming class and reading “Machine Learning for Dummies.”

But these days, he doesn’t have the same fire as when he only had that $60 in his pocket.

“The good news of having had the level of success I have is obvious, but the bad side is I kinda lost that piss and vinegar,” says Cuban. “I can think of 50 businesses I could start right now.

But, I don’t want to give up time at home and all that. So that’s kind of the trade-off.”

Resourceful References;

If you loved this biography profile, please help us share the word online.

Below are more useful additional links related to the topic. Including a video documentary.

  1. Celebrities & Public Figures Biography Profiles
  2. Rembrandt Biography – History Missed Facts
  3. The one book that changed Oprah Winfrey’s life and business
  4. Apple co-founder Steve Wozniak’s formula for happiness doesn’t have anything to do with money

Watch the following documentary about Mark. Themed, How I Became a Billionaire!

Leave a Comment

Scroll to Top
Copy link
Powered by Social Snap