This feature is a part of our Most Influential People Behind The Scenes In Sports series.
Mark Cuban lives a life most people envy.
After selling his dot-com company in the late ’90s for $US5.9 billion, Cuban has been able to live large. And live large, he has.
One of his biggest purchases was a majority stake of the Dallas Mavericks, and ever since, he’s become a huge voice in the sports world.
What does it feel like to be a billionaire? Cuban told James Altucher on a podcast:
“The billion was, ‘I can’t f—ing believe it.’ Literally, I was sitting in front of a computer, naked, hitting the refresh because we were close — waiting until my net worth hit that billion when the stock price got to a certain point, and then I kinda screamed and jumped around and then got dressed.”
He and his friends had a bar called Motely's Pub but it was shut down because they had a wet t-shirt contest with an underage girl in it.
He also had a job as a salesperson at a PC retailer in Dallas, but he was fired in less than a year when instead of opening the store, he met with a client about new business.
Cuban's first business was called MicroSolutions. But a few years later, in 1990, Cuban sold this company to CompuServ for $US6 million. Cuban cleared $US2 million after taxes, and by the time he had sold the company, he had already saved up about $US1 million.
Cuban told James Altucher that he bought a $US125,000 'lifetime pass' on American Airlines, which got him and a guest a first class ticket whenever he wanted it and partied like crazy. Cuban would do things like fly to LA to take acting classes just so he could meet hot girls, or would just hop on a plane and go to Moscow, or Barcelona, or Puerto Vallarta.
But it wasn't all party, during this time he was also 'killing it' trading stocks. He ended up working for a small hedge fund with a partner which they eventually sold.
At that point, Cuban had turned his $US3 million into $US20 million.
Cuban started Audionet.com with his college friend, which eventually turned into Broadcast.com. The idea for Broadcast.com was to put live sporting events online for anyone to listen to.
By 1999, Cuban grew the company to $US13.5 million revenue in the second quarter during the dot-com boom.
And then, Yahoo! picked it up for $US5.9 BILLION in '99 just before the dot com crash.
In 2004, he hosted his own reality show called 'The Benefactor,' kind of like Trump's 'The Apprentice,' but this winner got $US1 million.
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