Britannica Money (2024)

Mark Cuban (born July 31, 1958, Pittsburgh, Pennsylvania, U.S.) is an American entrepreneur, venture capitalist, businessman and television personality who cofounded (1995) Broadcast.com, an Internet audio and video streaming service, and who was active in numerous other companies. He also purchased the Dallas Mavericks of the National Basketball Association and frequently appeared on the reality TV show Shark Tank.

(Read Mark Cuban’s Britannica essay on NFTs.)

Cuban grew up in Mt. Lebanon, a suburb of Pittsburgh, and early displayed an affinity for business. At the age of 12 he reportedly began selling garbage bags in his neighbourhood. The success of that venture led him to sell other items door-to-door. During his junior year in high school, Cuban began taking evening classes at the University of Pittsburgh, and he used those credits to graduate from high school early. After his freshman year at Pitt, he transferred to Indiana University (IU) in order to pursue a business degree. Following his graduation in 1980, Cuban moved back to Pittsburgh, where he briefly worked for Mellon Bank.

By the early 1980s Cuban was living in Texas, working for a computer software company. He reportedly was fired from that job after his employer asked him to clean rather than complete a sale. Soon thereafter Cuban founded MicroSolutions, a computer consulting service. In 1990 he sold the company to CompuServe for $6 million. Over the next several years he founded the venture capital firm Radical Computing, Inc., and took acting classes in Los Angeles. After returning to Dallas in 1994, he and Todd Wagner, a friend from IU, lamented the fact that they were unable to listen to Indiana’s basketball games. This led the duo in 1995 to found AudioNet (later Broadcast.com), which offered various live programming online. Hugely successful, the company went public in 1998, and the following year it was sold to Yahoo! for about $5.7 billion. (Sold at the height of the dot-com bubble, Broadcast.com was later discontinued.)

The deal made Cuban a billionaire, and he began acquiring a number of companies from a wide range of fields. In addition, in 2003 he and Wagner cofounded 2929 Entertainment, which developed and produced films. Cuban’s later ventures included Mark Cuban Cost Plus Drugs (2022), which sold prescriptions at a lower price. He also invested in various start-ups, and in 2011 he began appearing on Shark Tank, a reality TV show in which entrepreneurs present inventions to a panel of potential investors. In 2011 Cuban published How to Win at the Sport of Business: If I Can Do It, You Can Do It as an e-book; it was expanded and released as a book in 2013.

A longtime basketball fan, Cuban bought the Dallas Mavericks of the NBA in 2000. He quickly became known as one of the league’s most outspoken owners and one of the most generous. Cuban notably upgraded the team’s facilities and offered various perks to players that made Dallas an attractive location for free agents. After losing in the NBA finals in 2006, the Mavericks won the championship in 2011.