Billionaire investor and entrepreneur Mark Cuban shared his secret recipe for success and how maintaining financial discipline has helped him build his fortune.
American entrepreneur and billionaire Mark Cuban is popular among the business circles for his grit and smartness. Cuban is an avid reader and noted that constant learning and curiosity has been key to his success over the years.
With a net worth of $4.3 billion, Cuban recently shared some tips on his billionaire journey. One book that has specifically helped to focus on his money goals in his early career is “Cashing in on the American Dream: How to Retire at 35”.
Written by an accountant-turned-author Paul Terhorst, this book became massively popular in the early 90s. In the book, the author details about he was successful to retire at an early age of 35. Terhorst also mentions that one of the basic principles to become rich is to limit spending. Back then, he advised not to spend over $50 per day ($110 today). In nutshell, the book also explains that “if you could save up to $1 million and live like a student, you could retire”.
Cuban said this made him determined to save every penny he could. Speaking on the “Raising the Bar” podcast, Cuban said:
“To me, my goal was to retire because I wanted my time to myself. That’s the one thing you don’t get a second shot at. And I was willing to give up a lot to get there.”
Billionaire Mark Cuban: the Road to Success Was Not Easy
While you might have heard several “overnight success” stories, the reality is there are years of grind behind it. The same was true for Cuban. During the latest 80s and 90s, Cuban survived only on macaroni and cheese while driving the “worst possible car”.
When he started his business MicroSolutions in 1983, Cuban has to forego any vacations for a long period of seven years. Well, the goal for Cuban was to retire early from financial responsibilities. Although he did manage to attain it, he kept working in the latest years.
Cuban runs multiple businesses today and is an investor in a myriad of different companies and startups. As per Wikipedia, Cuban is “the owner of the National Basketball Association’s (NBA) Dallas Mavericks,co-owner of 2929 Entertainment, and chairman of AXS TV. He is also one of the main “shark” investors on the ABC reality television series, Shark Tank.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
