How Did Mark Cuban Even Get Rich? - The World's "Luckiest" Billionaire
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- Опубліковано 27 тра 2024
- Mark Cuban is by far the richest regular shark on Shark Tank with an estimated net worth of $5.93 billion. Not only is Mark the richest shark on the show, but he's also the only regular billionaire on the show. Mark often talks about how he hustled his way to the top, but we get very little details as to how he got rich in the first place. The secret behind Mark's wealth is a company called Broadcast.com which Mark launched in 1995. Broadcast.com was a sports streaming service that eventually delved into video streaming as well. The company was quite successful boasting a total of 570,000 users, but it was by no means a billion-dollar company. Nonetheless, Yahoo offered to purchase the company for $5.7 billion at the height of the dot-com bubble which made Mark a billionaire. Since then, Mark has strategically cashed out of Yahoo and invested into many assets which have allowed him to reach nearly a $6 billion net worth. This video explains the story of Mark Cuban and how Mark Cuban became a billionaire.
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Timestamp:
0:00 - Mark Cuban
0:59 - Young Entrepreneur
3:11 - MicroSolutions
5:39 - Broadcast.com
8:29 - Getting Lucky
10:19 - Shark Tank
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Disclaimer:
This video is not a solicitation or personal financial advice. All investing involves risk. Please do your own research.
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“Luckiest” is not a title that I’m giving him. The title refers to a quote from Mark himself where he stated, “I’m the luckiest guy in the world.”
www.businessinsider.com/billionaire-mark-cuban-luckiest-guy-2015-6
you should make a video on the northwest passage, will be very very important in the coming years
Pure luck
So it's just click bait
You mean Mark Chabenisky right?
Why is it that you find so many members of Mark's tribe always changing their last names?
It is like the book "A Rosenberg By Any Other Name".
Marks A liberal super hero clown
He definitely got extremely lucky but there’s an old saying that goes, “ Luck is what happens when preparation meets opportunity.” And I think that perfectly describes him. He put in the work selling at a young age and when opportunity knocked, he answered
Good way of putting it, I agree
In Sweden the greatest slalom skier ever (Ingemar Stenmark) had a saying he used for reporters who often asked him if he felt lucky after a win that went, "It's a peculiar thing luck. The more i train before a race, the more luck I seem to have". Ingemar is well known to have been one of the hardest training individuals in swedish sports and had a winner mentality unlike most.
This is just bonkers levels of absurd luck and insane stupidity from Yahoo. They paid $5.7 billion for a tiny company with zero innovative technology, 500,000 users and minuscule revenue. That's $10,000 per user. Just pure insanity. And the company Yahoo bought dissolved almost immediately as it had nothing meaningful to offer. Even 1/10th or 1/100 of that $5.7 billion price tag would have been totally absurd.
@@jaybee946 let's be honest, yahoo is basically just a dead platform which is known for doing only the worst deals ever
Sure, but it still takes probably more than 1000 people with similar standard of preparation, intelligence, experience and hard work to generate one billionaire from their ranks. Its still a lottery, but with a far, far bigger returns and far more difficult barries for entry.
Mark got lucky by his smartness, born in America in one of the greatest times to be alive there (Smartness, great timing, opportunities). Plus, he's the kinda guy that always gets on the trends and makes the most out of them.
He sold a worthless company to the worst capital allocators in world history
Both of the big names on the show did that actually
Real billionaires don't waste their time looking for public validation on broadcast tv
@@Jebcbeb bingo
He’s really good at taking new opportunities
@@Jebcbeb why you hatin, where’s the company you made? Oh wait.
@@Jebcbeb "real billionaires"
son, if i had just 1% of the success Mark has had, i would feel like the most successful person who ever lived. I didn't know being rich was a competition, but i'll take what i can get.
Good timing + understanding of trends = rich. The good timing is pure luck. Which for Mark may have been his ticket to initial wealth. But his continued wealth comes from the second part. He seeks trends and capitalizes on it.
Timing is everything.. Timing is literally what separates millionaires from billionaires
wow, thanks for this piece, you or anyone here can also help me with a platform i can start investing
@@abebmoses7335 i will advice out reach out Vivian Klaine Morgan, she is a genius
@@investorwest8735
I have hear so much about this woman and how she had made so many of her client millionaires, thanks for the info
A CNBC news host spoke so highly of the man Vivian Klaine Morgan and her loss prevention strategies,yu
Almost all self made billionaires were incredibly lucky.
It’s almost al luck yes they need to have a good idea at the start but to actually get to 1b very very lucky day 100m that’s just them being really smart
There is luck involved, but hustle and business mentality plays just as big of a part. You don't get lucky by sitting on a couch eating potato chips after working your 9-5. You need to actually strive to grow your business or investments as well.
You make your own luck in life
@@Roverde tell that to the kids starving in Africa
@@a.s1469 Yes tell it to them! Francis Ngannou best example, poor in Africa and now UFC heavyweight champion! Tell those kids!
I have the upmost respect for mark. It’s not often you see billionaires with the peoples best interest at heart.
i wouldn’t say he has our best interests in heart, would totally do business with the guy though he seems pretty stand up as far as those type go
His company wasn’t even worth 1/10th of what yahoo paid for it and he knows it. But kudos to him for all his hard work.
Damn does yahoo just overpay for everything?
If Yahoo managed that business to continue, it could have been utube's rival today. And you wouldn't say that Yahoo overpaid Mark 10x.
@@RamilVerdiyev he is right. broadcast wasnt that worth yahoo is just stupid they could have made their own broadcast/youtube and advertise it with half a billion of marketing and they would have kicked cuban to the ground
@@jackma3730 Jack, my personal opinion is investments in tech world are made not because of current value but future expections, and more importantly for ready to go platform and user base. But Yahoo failed in so many ways to build a tech business that this investment and later shut down of the project is just a tiny dust in the air.
@@RamilVerdiyev yes true. but didnt they have just 1 smart guy who could have said wait a minute the internet changes very fast. what is now in could be tomorrow old fashion we are taking a huge risk.
When you invest you're buying a day you don't have to work
Assets that can make you rich
Stocks
Crypto
Real estate
Stock's are crashing, Bitcoin investments Right now will be at every wise individuals list, in a month you will be ecstatic with the decision you made today
@@allisonmatt6314 Yes, exactly, crypto trading is the world trending online investment now
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings, what do you think I should be buying?
@@mrbigbeef4344 crypto i suppose lol
There may have been some luck involved in some of his success but ultimately it was his hard work, determination, and him being a great opportunist that led up to him making billions.
*”there may have been some hard work, determination, and being a great opportunist in some of his success, but luck was what ultimately lead to him making billions”
Fixed it for you lol (Even Mark himself said that making billions was almost all luck…making a million…sure, hard work…billions is all luck based…in Marks own words)
@@digipixle6343 Definitely true 👍
Every self-made billionaire got extremely lucky.
wtf are you on abot illusionalist
“To become a billionaire, help a billion people”. Garry Tan
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Man mark is a hustler. Only reason he is where he is today is determination, I think he made all the right choices he made.
A wise person once said that LUCK is when opportunity and preparation cross. So while anyone can say he’s lucky. He actually worked for that and it paid off
He got off at the right time, he wasn't greedy and that doesn't make him lucky but careful
The title isn’t what I think man. That’s what Mark said.
www.businessinsider.com/billionaire-mark-cuban-luckiest-guy-2015-6
I think it’s both. Careful people tend to get out too early. Risk takers get out too late. He was just careful enough and lucky enough he timed it just right. You don’t get to where he’s at without a good balance of skill and luck.
If you take the right steps, you often meet chances.
Exactly.
I don't like the lucky that was added
@@ryanhamstra49 It was pure Luck🤷🤷🤷
Most people venture into crypto to be a millionaire, meanwhile, I just want to be debt free
That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to getting rich
Just do the right thing, by trading with an expert, I trust me you will be a millionaire and debt free
You don't make money on forex or crypto by holding your coins rather you trade to make gain.
Now is the best time to purchase and invest in bitcoin, stop procrastinating
If you don't lnvest NOW, then WHEN? If not YOU, then WHO?
Mark Cuban worked so hard.
People be like: you got lucky
I mean. He got lucky too. There’s a reason why there aren’t many billionaires
you know its not mutually exclusive right?
@@YT7mc ofc there aren't, there aren't smart people in this world either.Most people are whining about and complaing about their situation and hating on successful people and also wasting money on religious fulfillments while working a minimum wage lol.And most people also don't have any sense of financial management.and also most don't have the guts to take the risk and would prefer becoming an employee with 0 risk than employer.
@@thecryptohacker9976 nah more people blow money on iphones NFTs and limited edition sneakers. Maybe old people spend it on religious fulfillments.
This is a really well made video, good job and keep it up
I love how it casually mentioned his 1st client as Ross Perot. From that point on there is no grind and you don’t just close a whale like that. There is more to this than what’s shown.
It just seems like it was tommorow that you had 20k subs and now you are at 188k+ subs, time sure flies away it won't be long before you reach 1million subs
Thanks man! That would be awesome!
I partially disagree with the argument that Yahoo’s streaming service failed because of their mistakes. Netflix and other platforms succeeded when the internet speed was crazy fast in order to stream those videos. In early 2000s, opening a picture online took a few seconds, who would then stream videos? As they say, timing plays a very crucial role when it comes to entrepreneurship. It was too early back then as the infrastructure wasn’t up-to the mark.
I agree. I remember the dial up internet 🤣. Nextel mini screen slow internet. Vs now. Whole phone a movie. Timing played a big part.
But yahoo saw the future. The technology just wasn't there yet.
Side note: this goes into the theory of aliens/UFOs/ advanced technology. We just Don't know and can't understand that technology. We are only 2 thousand yrs into a plants that's been around for hundreds of millions of yrs. And a solar system trillions yrs old. We Don't know shit. We are still learning.
Even if Yahoo didn't acquire Broadcast, with Mark's intelligence and experience in business he would've turned it into an early netflix and will be even wealthier possibly..he was destined to be a billionaire
Yep very possible
@Kyle K you cannot say that with conviction, as you are as much a fool as any of us.
But honestly, I'm glad he took the billion and didn't sell it to Yahoo. He isn't greedy and that's what makes him a billionaire
@@hunde2430 i mean someone who is greedy and intelligent would've done what mark did. Greed might cloud morality but it doesn't always cloud judgment.
@Kyle K the fact that that is what you derived from this comment is insane to me
He's lucky to have a net worth of 5 billions. But without luck he'd have 100+ millions which is more than 99.99% of the people will make.
I think it’s all the late nights and hard work, no one sees. Everyone just looks at the success and makes their own evaluations. Billionaires, athletes CEOs etc
He has charisma out of this world..i love his directness and passion for basketball
Beautiful video
The harder you work, the luckier you get.
*When you invest, you’re buying a day that you don’t have to work. Show me a man without investment and I will tell you how long it takes to go bankrupt. I pray everyone reading this becomes successful.*
I agree with you. I had a senior colleague at work who lived well but never had an investment, unfortunately his job ended so he went from living well to surviving with his family. If you had an investment, you would have another source of income.
^Investing in crypto is a plan for the future so it's high time people understand the importance of investment
Bitcoin is the true decentralized cryptocurrency to ever exist in the world. I'm actually new to trading in bitcoin and can say authoritatively it's an aspect of gaining financial freedom
@@captainnadson240 Hello how does this bitcoin stuff really work
Yes I I’m interested.
@@dianaaudibert5745 Trading crypto has been a lucrative way of making money
I know Mark Cuban, iv met him a few times and had a laugh, he’s not the real Mark Cuban but he’s a really nice guy.
Ah, that's sounds like an awesome experience Jamie!
"There is no such thing as luck, merely opportunity meeting preparedness." -George S. Patton Jr.
all of them have come a very long way man. it's so inspiring.
Yeah realy inspiring to be able to afford to feed millions of people who are dying of starvation and spend your money on buying airlplanes and basketball teams instead. You should search for the word "inspiring" in a dictionary probably.
@@lm7_gio so how much have you given to charity?
Luck is when preparation meet opportunity.
This is one of the most greatest sayings ive ever read on youtube
@@OriginalCovfefe thanks, actually I also heard it from some motivational speaker long time ago and found it interesting and true.
@@balazshajdu3018 great saying regardless!
For me I heard this quote from neebs' character in Doralious and associates.
NO
"And if you look above, you find a 12 minute video displaying what we call 'hating' stemmed from bitterness and jealousy."
Dude is a genius and an opportunist, which is exactly what you need to gross money. What are you really trying to prove here?
I used to work with billionaire and millionaires . You could tell who made it themselves and who piggy backed of others. For example, there was a Persian dude buying up properties in Bel air and Malibu. He made his billions when his partner made a crazy deal . While he spent his money trying to acquire assets , his partner was giving speeches at some of the most prestigious universities . Also his partner made more money on his side investment's.
Man, Mark was actually way ahead of his time, and came close to game changing ideas, just to leave the idea...
Still, he's comfortable; and he got what he wanted.
Yep
Great video
Thank you Cameron!
He put the radio on the internet!
“He wanted to play football and liked the stealers” shows the titans hahaha
one thing I love about billionaires is that they do things not with instinct, but with critical thinking
Thank you very much Sir. For sharing your videos of Mark Cuban and God bless us all ❤️❤️❤️💕💕💕🙏🙏🙏
1958? Your telling me he’s around 64??? Geez he looks way younger.
This is what people always forget, to be successful you don’t just need to be smart, or hard working or be born from a rich family, YOU NEED LUCK too. LUCK has played major roles in every success billionaire story.
Billionaries are like poker players. You need to know the game but you cant learn luck
Thank you!
Mark knows if it has to be right or right now. Timing is of the essence and his decisions fell into place. Nothing lucky, it is stragetic thinking.
I think Mark has been financially smart when it comes to spending his money wisely.
he admitted to wasteing his stolen scam money?
@@icyx9268 your making stupid statements unless you have evidence though
Luck is when preparation meets opportunity.
-Seneca
Luck mixed with smarts equals manifest destiny
You missed this part tho:
When he was in college he used to drink at his favorite bar then he heard they were shutting down, he bought the bar using his student loans, even his business professor at the time said; he was the only student in the class who was running a business while studying.... later the bar had to shut down as they were having a wet T-shirt contest while an underage girl performing lol
Oh wow, I didn’t know that
Haha fr? That cool😂
Best thumbnail of the internet. Kevin's innocent looking face when mark is shown as the badass billionaire. We all know kevin loves money but mark has got it all
Luck favors the prepared. Mark was putting himself in the right places and making good decisions
Yep
But doing it at the right time is really what made him a billionaire. Sure you gotta put yourself in a position to be lucky, but timing is everything and that's where luck comes into play.
His path isn’t much different than that of most billionaires. It’s 99% luck at first and then they get good financial advisors and invest correctly.
He is a great Guy and looks honest to me
And so do 99.9% of the best scammers in the world. That's why they are so successful.
@@jaimhaas5170 Oh no! Poor multi billion dollar company purposely making a brain dead financial decision. Wasn’t a scam, but definitely was more of a blunder by them than a stroke of genius by him
Negotiating on the behalf of those Shark Tank Entrepreneurs is mega🙌🏾
He definitely got lucky. Not just once but twice. However, he did put the time and effort.
He may be luckey but luck is not free. He grow the business to be evaluated in millions
Very true
How to get rich by Dubai and Qatar and Neom
ua-cam.com/video/oqMZxPM4Avs/v-deo.html
Damn respect to Mark Cuban for getting rid of that shark tank tax
He doesn't have that airline pass anymore. He did an interview on Stern about 10 years ago where he told the story and said he was allowed to transfer it once, so when he sold his Yahoo shares, he transferred it into his Dad's name.
I got mad respect for that last part
Mark took right decisions at right times that made him what he is today.
You need to Be able to see the potential and have the balls to take the deal. I respect this man, because he had them.
Love from Denmark.
“Big fan of Pittsburgh Steelers” begins to show the Tennessee titans😂😂😂
Dude they paid almost 6 BILLION in 1999. That's just insanity.
Well they paid it in shares and yahoo was overvalued too so not too insane.
Mans bought a whole private jet like it's a pair of jeans
Mark got lucky, but he also knew how to seize the opportunity when he saw it.
As a self made billionaire with (almost) no scam and scandals at all and investing highest amount online, he is pretty interesting guy
wtf it was literally entirely a scam
Happy to hear Mark is from my state ❤
Another great video man! Mark was always ahead of his time
How can I send u some background music for your videos?
Thanks man! You can email me using the email for business inquiries.
Staying rich is nothing but luck. Each move is calculated!!!
When you work hard and smart, life has to respond by something (chances) and I had faced some chances but they were not on the right time for me so I couldn’t take chances but I always believe I’ll one day make it and I’m not worried about the past chances because they weren’t my fault to blame myself for not taking the chances and life is full of opportunities.
To conclude, whoever the rich guy is, he had been lucky somewhere somehow because that’s how life works.
He got lucky to get the billion, but he put in alot of effort to get the company to that point where Yahoo wanted to buy it. Plus him getting shark tank to drop its tax shows how good of a guy he is
I like when he appears on Billions to say something to Axe.
Didn’t expect Kevin to have the third lowest follow through %
Two Sharks got lucky with the dot-com bubble, Cuban and Kevin O'Leary. Both of them sold companies and both companies crashed and burned. O'Leary is also believed to have cooked the books on the company he sold. Right place right time with a bubble.
Robert too hahaha
@@LogicallyAnswered no Robert had sold a good company to at&t for 30.2mill
Sure, the company may have been good, but he sold at the peak of the dotcom bubble too. That probably helped the acquisition price significantly.
That's not luck. That is smart.
Timing is everything!!!
Opportunity comes to the prepared mind. If someone thinks that only their hardwork has got them the success, they are fooling themselves
He’s not lucky every decision he’s made put him in the position he’s at today and I don’t think he’ll change it
Not according to himself
he literally created one of the first streaming service.
Talent/Skill is if being lucky is the norm and not the exception.
Luck is what happens when preparation meets opportunity
imagine being able to say "I was taught to disco by mark cuban"
Always wondered what Mark did before owning the Dallas Mavericks
Yahoo has everything to succeed 😑
But still 🙄
For real hahaha, they really blew it
"Big fan of the Pittsburgh steelers"
-shows the Tennessee Titans. Lol
He worked really hard and got really lucky. Damn
If you think success, failure, life itself does not come with luck involved then you have no idea how anything works.
Do you?
The harder you work thr luckier you get, yes there is luck involved but so is constant hustling. Take nothing away from the billionaires.
The harder, and smarter, you work, the luckier you get!
I want to be lucky like him
Luck = Preparation+Oportunity
Well said Sora
Luck = Opporunity meeting Skill. Mark had sales and people skills, and when the opportunities presented themselves, he turned them into multimillion businesses, and eventually into a billion dollar empire.
Another chosen one.
He sold Microsolutions for $6M, and after sharing the profits to the coworkers and tax, he had 2M left. American Airlines pass purchase was $125k.
POV: When you put all your skill points into luck and charisma
I actually remember this because at the time I was Yahoo account manager at Compaq (sounds cooler than it was, I just managed their orders of servers and hard drives and shit, first and last cubicle job I ever had, lol) before the HP "merger".
That brings up old memories... The day of the "merger" there was a big meeting and they said " do not look for new jobs, you are safe "... A week later the layoffs started.
Anyway...
Paper workers go on strike, he goes full scab
He did put in a great deal of effort and persevered till he succeeded
Herman Munster head lol
😂
The cool thing is he is just a normal guy that with skill and luck he made it to the top. He acts lucky and admits he is lucky so he is relatable even though he is a billionaire
I think he’s probably the only billionaire with a heart
His life cannot be summed up in 4 minutes.
You don't know how hard he worked for all his companies.
He got all of his wealth because he worked his ass off.
He's not lucky.
gip gop speaking facts
He’s called himself lucky tho
@@deffry1555 It's called being humble...
@@akbar8427 or being honest
Lmao
Luck is a big part of business. The more project you have, the more knowledge you learn, the more people you network with. The better the chances of you stumbling onto a lucky project/idea. After that its what you do with that luck that determines your success.
I like to have the head canon that he teaches disco to his kids.
2:19 lmaoo