Mark Cuban Net Worth

How much is Mark Cuban Worth?

in Richest BusinessmenRichest Billionaires
Mark Cuban net worth:
$2.7 Billion

Mark Cuban net worth: Mark Cuban is a remarkably successful American entrepreneur who has a net worth of $2.7 billion. In addition to being a multi-billionaire, Mark Cuban owns the Dallas Mavericks, Magnolia Pictures, Landmark Theaters and is chairman of HDNet, an HDTV Cable Network. Cuban is very philanthropic and gives freely to many charities, especially to the Fallen Patriot Plan which helps the families of fallen soldiers. He was born July 31, 1954 in Pittsburg, Pennsylvania. In his first attempt at being an entrepreneur, he started a company called Micro Solutions which resold software – successfully. In fact, that company grew and prospered to the point where it was purchased be CompuServe in 1995 for $6 million. Cuban's take on that deal was $2 million after taxes. That same year, Cuban started a new company, Audionet, based solely on his twin interests of college basketball and webcasting. Over time, the company's name was changed to Broadcast.com and after growing to over 100 employees and $100 million in annual revenue, the company was purchased by Yahoo in 1999 for $5.7 billion in stock.

Predicting the Bubble's Burst

Mark's smartest financial move of all time was being able to foresee that the dotcom bubble would eventually burst. On the day the Broadcast deal officially closed, Yahoo's stock was trading at $163 per share. Six months later, when Cuban's lockup agreement expired, the price per share was roughly the same. Cuban's firm belief that the internet bubble was about to burst led him to sell 100% of his Yahoo shares as soon as he was his lockup expired. This move netted Mark $2.5 billion in cash. Over the next year and a half as the bubble eventually burst, Yahoo's stock price slid from 100, to 70, to 50, to 30. By October of 2001, Yahoo hit an all time low of $8.11 per share. That's a 95% drop compared to $163 a share when Cuban sold. In other words, Mark's $2.5 billion worth of stock could have become worth as little as $125 million. Still a nice fortune, but not enough to buy an NBA team, movie studio, cable network, private jets…

Mark Cuban Net Worth

Mark Cuban Net Worth

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Mark Cuban Net Worth

Mark Cuban

Entrepreneur
Date of Birth
1958-07-31
Profession
Entrepreneur, Businessperson, Film Producer, Actor, Investor, Television producer
Nationality
United States of America
Height
6 ft 2 in (1.9 m)
Ethnicity
Jewish people
Nicknames
마크 쿠반, 마크 쿠밴, 마크 큐반, Кьюбан, Марк, 马克·库班
All net worths are calculated by applying a proprietary algorithm. The results are then fact checked and confirmed by a team of editors. We scan all publicly available data and resources and work diligently to ensure that our numbers are the most accurate and up to date net worth data you will find anywhere on the internet.
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