Entrepreneurs

Mark Cuban

Mark Cuban biography
Photo: Keith Allison / CC BY-SA 2.0

Mark Cuban biography

Mark Cuban (July 31, 1958) entrepreneur, investor, and owner of the NBA basketball team the Dallas Mavericks. In addition, he owns the Landmark theaters, and Magnolia Pictures and president of the HDTV cable TV network AXS TV. Cuban Born in Pittsburgh, Pennsylvania, United States. And he enjoyed certain comforts by being a member of a Jewish working-class family. His family’s original surname was Chabenisky but it was changed by racial pressures. His father, Norton Cuban, worked as an automotive upholsterer and his mother, Shirley Cuban, dedicated herself to housework. Cuban began to learn everything about the business world since he was 12 years old, he sold garbage bags, although the sole purpose was to acquire his luxurious basketball shoes.

Cuban attended the Monte Lebanon high school. While studying high school he acquired several part-time and weekend jobs, such as waiter, disco dance instructor, and party entertainer. Upon leaving school, Cuban enrolled as a full-time student at the University of Pittsburgh where he joined the international fraternity of Pi Lambda Phi. It is a social fraternity that was founded in 1895 at Yale University. After a year, he was transferred to the Indiana University in Bloomington and graduated from the Kelley School of Business in 1981 with a degree in business administration.

While in college, Cuban had different companies, including a bar, a disco dance lessons company, and a chain letter company. He really was a very restless person and always with a good nose for business. After finishing his career he decided to look for better horizons in Dallas, he began to work as a waiter. Then, he was a salesman at a computer store. Years later, Cuban said that this type of work was key to achieve what he has achieved now.

After a while he decided to take control of his life and his future career, so he created his first business: MicroSolutions. After a few years, in 1990, he managed to sell his company to the renowned CompuServe, the leading internet provider at that time. He made good profits from his business and from that sale as well. But, the frenzy of money led him to make bad decisions he began to travel and spend the money on parties. He was in various parts of the world Los Angeles, Moscow, and Barcelona. Although, after a while, Cuban was introduced to the exciting field of financial markets, he was soon hired by a small hedge fund.

With what he had left of money, 3 million dollars, he converted them into 20 million thanks to speculation with shares. Cuban had a business project in mind, so he called an old friend from the university and they decided to create Audionet.com, a website that retransmitted sporting events online. Later, it would become Broadcast.com. In the second quarter, they achieved $ 13.5 million in revenue with Broadcast. Now, Yahoo! he bought Cuban’s company for 5.9 billion dollars just before the dot-com bubble burst

At the time the market burst, Cuban decided to acquire a majority stake in the Dallas Mavericks for 285 million dollars. Remember that Cuban was a man fan of this sport, and although this was considered a very profitable investment, it also obeyed a caprice and passion of Cuban. The Mavericks would now be worth 685 million. As for his personal life of this important American businessman, we must say that he married in 2002 with the beautiful Tiffany Stewart, and from this union, they have had 3 children.

Two years later, Cuban got his own television program, called The Benefactor, a program that responds to his passion for business and seeks to help several entrepreneurs to materialize their businesses. His program has been compared to Donald Trump’s program, The Apprentice, although clearly, Cuban’s award was more striking. The winner received $ 1 million. One of the great properties of Cuban in his private Jet of 40 million and a large mansion.

Currently, it is estimated that Cuban’s net worth is 2,600 million dollars, ranking 696th in the Forbes list of the richest in the world. Although this could have been greater if he had not been squandered in the first stage as a businessman. In 2011 Mark Cuban launched an e-book under the title How to win in the sport of business, in which he describes chronicles of his experiences in business and basketball. He currently resides in Dallas and has continued to invest in other businesses. For example, in the production of programs and television series. He has also been invited to some Hollywood films.

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