'I Would Be Happy Without 99% Of My Wealth' Says Shark Tank Judge & Billionaire Mark Cuban

Billionaire Mark Cuban, who has also been one of the main judges on Shark Tank (US), says he would be just as happy today without as much as 99% of his estimated $4.6 billion fortune.

Vanya GautamUpdated: Jan 11, 2023, 17:56 IST
4 min read
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American billionaire Mark Cuban, who has been one of the main judges on Shark Tank (US), has said that he would be just as happy today without as much as 99% of his estimated $4.6 billion fortune.

Mark Cuban has, for long, been a supporter of the world's second-richest person, Elon Musk's favourite cryptocurrency, "Dogecoin," and had said in 2021 that Dogecoin is the "strongest" cryptocurrency as a medium of exchange. Last year, Cuban even proposed using Dogecoin to solve Twitter's crypto ad problem.

"Happy With 1% Of My Net Worth"

mark cuban shark tank usatoday

In a recent interview with American TV broadcasting company CBS, the 64-year-old owner of the NBA¡¯s Dallas Mavericks was adamant that he doesn¡¯t need his billions of dollars.When asked if he would be happy with ¡°1% of what you¡¯re worth,¡± Cuban replied, ¡°Yes. If I had my same family and everything, for sure.¡±

One percent of $4.6 billion, which is Forbes¡¯s current estimate of Mark Cuban¡¯s net worth, is still $46 million, a lot more than many people see in a lifetime. Cuban and his family could still likely live happily with that much money, as the average American thinks they need about $1.7 million to retire comfortably, according to financial services company Charles Schwab, as a CNBC report mentions.

Also Read: Net Worth Of Shark Tank India Season 2 Judges

When Cuban decided to retire at the age of 32

Billionaire Mark Cuban once planned to retire with $2 million in the bank after selling his first company, MicroSolutions, at the age of 32.

¡°I netted about $2 million after taxes,¡± Cuban said on Sunday, referring to that sale. ¡°I bought a lifetime pass on American Airlines, and [I said] I¡¯m not going to work, I¡¯m just going to party like a rock star in as many countries as I can.¡±

The reason he ultimately didn¡¯t retire: He was ¡°too competitive,¡± he said in the ¡°Re:Thinking¡± podcast last year.

That inability to sit still helped lead Cuban and his friend, Todd Wagner, to launch the online streaming company Broadcast.com in 1995. In 1999, Yahoo paid $5.7 billion in stock to acquire the company, turning Cuban into an instant billionaire.

mark cuban getty

Also Read: Simple Life Lessons Young Entrepreneurs Can Learn From Shark Tank India

"Never Taking Wealth For Granted"

The tech billionaire says he¡¯s worked to make sure his massive wealth hasn¡¯t changed his personality, which is why he believes he¡¯d be just as happy with significantly less money.

"If you talk to my friends from back then who are still my friends, they¡¯ll tell you: I¡¯ve got stuff. But hopefully I haven¡¯t changed all that much," Cuban told CBS.

Later in the interview, a group of four of Cuban's friends, who grew up with him near Pittsburgh, confirmed that he hasn¡¯t changed much from their youth.

"Little more full of it, but not that much more full of it," one of those friends, Jerry Katz, said. "But still the same guy."

According to Cuban, the best way to ensure that wealth doesn¡¯t change you is to simply be grateful for the increased security and peace of mind, as per the report.

¡°I just try to appreciate it (wealth), and not take it for granted, and not let it spoil me or my kids,¡± he reportedly told ¡°The HoopsHype Podcast¡± in 2020.

"You also need to appreciate how luck and random factors can aid your success," Cuban said in the recent interview.

¡°Life is half random. There¡¯s half you have some level of control over, and half, it is what it is,¡± Cuban reportedly said. ¡°If I was born five years sooner, not during the early days of the internet, you might not know my name. And I¡¯m going to never take it for granted, and enjoy every stinking moment of it.¡±

Also Read: Bill Gates Vows To Donate All Wealth & Drop Off From Rich List

For the latest and interesting financial news, keep reading Indiatimes Worth. Click here

21/11/2024 18:12:25
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