The entrepreneur and the owner of Dallas Mavericks entrepreneur has invested in more than 80 companies. It is through the ABC television show Shark Tank. Mark Cuban ‘s net worth is $4.3 billion. Cuban has achieved most of his fortune without relying on the ups and downs of the stock market.
As Cuban reflects on his personal blog from 2007, he was broke at 24 and became a multimillionaire at 32 years old. It was from the sale of his first company. At 37, he is a billionaire. What caused his wealth to increase rapidly and continue to be successful?
Mark Cuban ‘s track record
To adopt for yourself an element of a billionaire investing strategy, it is time to apply what Cuban calls the “knowledge advantage.”
Reported by Entrepreneurs, Wednesday (28/10/2020), Mark Cuban’s areas of expertise and interests include technology, media and sports; prior to his work on Shark Tank, his three most famous acquisitions were all related to building a business in one or more of these areas.
After being fired from his job as a computer salesperson, Cuban started MicroSolutions, a company focused on software reselling and systems integration.
His technology selling skills brought the company earn $ 30 million annually for seven years, making Cuban a millionaire at 32 years old.
Then, Cuban connect his knowledge of technology and media with his passion for sports. He was establishing a sports radio network which later grew to become Broadcast.com.
In 1999, the company with 330 employees was acquired for $ 5.7 billion, about 57 times the company’s annual revenue at that time.
Then in 2000, Cuban purchased a majority stake in the Dallas Mavericks for $ 285 million.
Because Cuban knew the sport, he expected the team to have low perform. Under Cuban’s ownership and expertise, the franchise is now worth more than $ 2.3 billion.
What is the common thread throughout this acquisition? Simple: Cuban has a knowledge advantage that he can use to help grow the business. The opportunities to start or invest in a company have never been greater.