Self-made billionaire Mark Cuban: The most valuable asset is time

To become a billionaire, is the top concern about making money?

Billionaire Mark Cuban replied: Wrong!

The 1990s was a time when self-made billionaire Mark Cuban was also building technology companies that would later take him to the heights of wealth. He said that at the time he never prioritized personal wealth. “I never thought about money,” he insists.

Instead, Cuban says what motivated him to get rich was something else entirely. He said: “I always think about time. That’s always motivated me. How can I control my own destiny? How can I control my own time?”.

A 2018 Harvard Business School study found that valuing one’s time over money increases happiness. Of course, billionaire Mark Cuban has also accumulated many other things thanks to that impulse. According to Forbes, he currently has an estimated net worth of $4.6 billion.

When Cuban sold his first company MicroSolutions to CompuServe for $6 million, he thought he wouldn’t have to go back to work. He added that what he bought was freedom.

Cuban saves most of his proceeds from his business so he can live on his own time frame without worrying about future employment. When it comes to spending, he spends his money traveling with friends and going to parties “like a rock star.” Five years later, his college friend Todd Wagner convinced him to join the campaign. streaming service so they can watch Indiana University basketball games at Texas, where they live. That service later became Broadcast.com and was acquired by Yahoo in 1999 for $5.7 billion.

Yahoo stock at the time was very valuable. If Cuban wanted a lot of money, he could hold the company’s stock in the hope of withdrawing more money. Still, Cuban is happy with the money he made from the deal and feels the stock market is overvalued. He sold most of his Yahoo stock just months before the dot-com bubble burst in 2000 and the company’s stock price plummeted.

“That event taught me a profound lesson: When you’re all about money, it never works,” Cuban said.

Since then, Cuban has spent his money in ways that make him feel good, including buying the Dallas Mavericks basketball team in 2000. After becoming a billionaire, he also spent $40 million on a machine. Gulfstream V private jet.

“Why would I want an airplane? Because the most valuable asset you can own is time. And what I can do is save commuting time,” he explains. “.