Mark Cuban and his Path to Wealth

On this day, July 31 in the year 1958, the co-founder of Broadcast.com was born in Pennsylvania, USA. His name is Mark Cuban, the billionaire who started life in Dallas City, Texas with $60 dollars and a student loan to worry about. According to forbes.com, his net worth is $4.2 billion as of July, 2020.

Mark Cuban
Mark Cuban (Credit: foxbusiness.com)

Mark Cuban was the son of Jewish parents. His father was a worker in an upholstery shop. He enrolled at the University of Pittsburgh and later transferred to Indiana University where he finished a degree in management. As a child, he sold garbage bags to earn money to buy an expensive pair of shoes. In college, he served as party host and dance instructor. After his graduation in 1981, he moved to Dallas, Texas with only $60 in his pocket.

Mark Cuban worked in a software retailer but he got fired very soon. Undaunted, he set up a consulting firm called MicroSolutions. It was a successful endeavor which for earned him $6 million when he sold the company in 1990. He then partnered with fellow Indiana alum, Ted Wagner, to form Audionet.com, a video streaming website. The new company was renamed Broadcast.com and it went public in 1998. A year later, it was sold to Yahoo! for $6 billion.

In the subsequent years, Mark formed 2929 Entertainment with its subsidiary Magnolia Pictures, purchased Landmark Theaters, and co-founded AXS TV. He also acquired the Dallas Mavericks for $285 million from Ross Perot Jr. Meanwhile, he remained active as investor in many startups.

Mark has 3 children with his wife Tiffany. As a celebrity, he appeared in several film and television shows and acted as judge in the reality show Shark Tank.

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