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HOW INNOVATION
MADE HIM A BILLIONAIRE
HOW INNOVATION MADE HIM A BILLIONAIRE
HOW INNOVATION MADE HIM A BILLIONAIRE
Mark Cuban is a world-famous entrepreneur and investor with a net worth of $4.7 billion, according to Forbes. He is the current owner of the Dallas Mavericks, one of the teams in the Western Conference division of the National Basketball Association (NBA). He is also the chairman of AXS TV as well as a co-owner of 2929 Entertainment. He is featured in “Shark Tank,” one of the reality television shows of ABC, where he first appeared as a “shark” in 2011. On the same year, Cuban published a book titled “How to Win at the Sport of Business.”
Cuban was born on July 31, 1958 in Pittsburgh, Pennsylvania and was raised in a middle-class family. Norton Cuban, the billionaire’s father, worked as a car upholsterer most of his life while his grandfather, Morris Chobanisky, moved from Russia and made a living by selling various products from the back of his truck. His mother’s name is Shirley Feldman.
His business acumen first showed itself when Cuban was only 12 years old. His early commercial exploits included door to door selling of garbage bags. Following his completion of a business degree from the Indiana University Bloomington, Cuban briefly owned a bar. He later on moved to Dallas, Texas in 1981 to search for more far-reaching goals and opportunities.
In 1995, Cuban joined forces with long-time friend Todd Wagner to create Broadcast.com. The idea to start a company that can stream live events via the Internet started when the two could not find ways to monitor the Hoosiers Basketball match from where they were in Texas. By 1999, the innovative partners sold Broadcast.com (later on renamed as “Audionet”) to Yahoo for $5.6 billion.
On January 14, 2000, Cuban purchased the basketball franchise of the Dallas Mavericks for $285 million. Armed with his trademark aggressive and outspoken management style, he drastically altered the culture of the team and its staff. Only a few years since he took over the Dallas Mavericks, the team reached the NBA Finals for the first time since its creation in 2006. By 2011, Cuban managed to turn a fledgling team in NBA World Champions. At the moment, the Dallas Mavericks is listed as one of the most highly valued franchises in sports.
In September 2001, Cuban partnered with Philip Garvin to launch HDNet Films. This is a high-definition television network, which aims to offer the best digital broadcast quality available on the market today. This company is listed on top of the various entertainment businesses of Cuban with Wagner including Magnolia Pictures, 2929 Productions, and Magnolia Home Entertainment, and the chain of Landmark Theaters. Cuban also has shares in Lions Gate Entertainment.
Cuban lives in his Preston Hollow mansion in Dallas with his wife, Tiffany Stewart. The couple has three children namely, Alexis Sofia, Alyssa, and Jake.
Billionaire Mark Cuban’s Book, Winning At The Sport Of Business — TIP051
Billionaire Mark Cuban’s Book, Winning At The Sport Of Business — TIP051
Billionaire Mark Cuban’s Book, Winning At The Sport Of Business — TIP051
Listen to The Investor’s Podcast’s episode wherein Preston and Stig discusses Mark Cuban’s book, How to Win at the Sport of Business. Learn more about his journey to success and his tips and tricks on making it big in business and investing.
Get to listen to more free episodes of The Investor’s Podcast and discover the secrets to success and other books about other Billionaires by subscribing via iTunes, Stitcher, or Soundcloud.
