Mark Cuban has made a lot of money from more than a handful of successful business investments.
“Rule number one in investing: when you don’t know what to do, do nothing.” It may seem counterproductive to some, but that’s the advice given by one of the world’s most successful self-made multi-billionaires, Mark Cuban. Born in Pittsburgh, Pennsylvania in July 1958, Cuban has aspired to be big business since he was 12, when his first venture was selling trash bags to save up an expensive pair of basketball shoes. He ran a number of other small businesses before attending the University of Pittsburgh and then transferring to Indiana University in Bloomington, where he would earn a Bachelor of Science in Management from the Kelley School of Business. Cuban is a leader among the list of other successful entrepreneurs in its category, such as Barbara Corcoran, Vera Wang, Richard Branson and Adam Green. But how did this diligent and tenacious investor go from sleeping on an apartment floor to having a net worth of $4.7 billion? Here are some of Mark Cuban’s most profitable business investments!
Tower Paddle Boards
Besides founding his own audio network company, MicroSolutions, which he sold to another online service provider called CompuServe for $6 million in 1990, Cuban has since made many wise investments that have yielded huge returns. large sums of money. Reality TV star Shark Tank has invested for a 30% stake in a stand-up paddle board startup called Tower Paddle Boards. The paddleboard company was founded in 2010 by Stephan Aarstol and caught Cuban’s eye while on season 3 of Shark Tank and has remained a subsidiary of Mark Cuban Companies (MCC). He invested $150,000 in 2012 and due to Mark Cuban’s appearance on Shark Tank, the company received decent exposure and generated $60,000 in orders as a result. However, it wasn’t until 2014 that Tower Paddle Boards was named the #1 fastest growing company in San Diego. In 2016, it was included in the “Hot 100” list of the most innovative e-tailers in the world.
Nuts and more
The founder and CEO of Nut ‘N Things, Peter Ferreira, also has a similar entrepreneurial history to that of Mark Cuban when he started his first business as a barber at the age of 13. Ferreira founded the company in 2010 as a company specializing in the creation of nut butter containing flax seeds and rich in protein. . Along with its superb nutritional benefits, it also comes in a variety of tasty flavors, such as Mint Chocolate Chip or Pumpkin Spice Pie, according to Inc.com. Although not considered the most advanced vegan food on the planet, the company’s products are an excellent source of protein without having to consume meat. During Shark Tank, Cuban and Robert Herjavec teamed up to invest $250,000 for a 35% share of the business. Cuban considers this one of his best investments on Shark Tank, as the company made over $30 million in revenue in 2018. That’s what you call money well spent!
Ten thirty-one productions
Cuban prefers to put his money for a stake in a company rather than his own neck, even if the amount he invests may make it appear over his head. And if you knew the company in which he invested $2 million for a 20% share of the company, the comparison would make much more sense! In 2013, one of Cuba’s biggest investments during its five seasons on Shark Tank was for CEO Melissa Carbone’s horror amusement company, Ten Thirty-One Productions. The company was founded in 2009 with the goal of becoming the largest haunted wagon ride in Los Angeles, according to Business Insider. The company’s spooky products and services have been a major bank during the Halloween season. Cuban even told Business Insider that the company was one of the few he had invested in that made about $500,000 in profit a year.
Sturdy maniacal obstacle course
From rapper Jay-Z who owns the Brooklyn Nets to basketball legend Michael Jordan who owns the Chicago bulls, it’s not uncommon for the wealthy to invest in a major league sport like football, basketball, soccer NFL or even professional boxing. And Cuba is no exception to the list. In early 2000, he purchased a majority stake in the NBA’s Dallas Mavericks from real estate developer and businessman H. Ross Perot Jr., for $285 million. In a Forbes interview with NBA All-Star Chris Paul, Cuban recounts how he managed to go from on-court fan to owner of the Dallas Mavericks basketball team. Since Cuban took over the team, they won the NBA Finals in 2011 and began a path to redemption, led by the Pittsburgh hustler himself.
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Sources: Forbes, CNBC, Business Insider, Inc.com, MCC
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