Who is MARC CUBAN?
Marc Cuban was born in July 1958. He is married to Tiffany Stewart. They have 2 daughters (Alexis Sofia and Alyssa) and a son (Jake). Cuban is known for owning the Dallas Mavericks, but he became rich in the IT industry. He is chairman of AXS TV and owns 2929 Entertainment.
Source of Wealth
Cuban started his career as a bartender and later selling software. He soon started his own software company, named MicroSolutions. In a few years, he sold the company for US$ 6 million.
Later he co-founded an Internet broadcast service named Adionet, publishing sports games audio tracks live on the Internet. Cuban invested $10,000 in exchange for 2% of the company. This company became Broadcast.com and was sold in 1999 to Yahoo for US$ 5.7 billion. He owned 25.6% of the company at that moment.
Cuban’s share in the sale was around US$ 1.4 billion. He was paid in Yahoo shares, but Cuban sold them quickly netting US 1 billion dollars in cash.
He started investing in IT startups through his company Radical Computing, Inc.
His daughter Alyssa Cuban is the founder of Alyssa’s Bakery.
With the cash from the Broadcast.com sale, Cuban bought the Dallas Mavericks for US$285 million from H. Ross Perot, Jr. The Dallas Mavericks (the MAVS) are an American professional basketball team based in Dallas. The team competes in the National Basketball Association (NBA).
The team is valued by Forbes at US$ 2.3 billion.
He is one of the main investors on the ABC reality television show Shark Tank. In the series, entrepreneurs are making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company. Cuban’s top deals are Ten Thirty-One Productions, Rugged Maniac Obstacle Race, and BeatBox Beverages. He invested more than US$ 1 million in each company. He is actually one of the richest investors in the show.
Marc Cuban Net Worth
His net worth is now estimated at $4.5 billion.