He was focused on the future. In January 2000, billionaire Mark Cuban paid $285 million for a majority ownership in the Dallas Mavericks of the National Basketball Association. However, in late 2023, Cuban sold his 72.3% ownership in the squad for $3.5 billion. While it turned out to be a fantastic return on investment for him, his choice to offload the squad was not motivated by money.
In a recent interview with GQ, the Shark Tank star discussed his mentality for selling the squad. Simply said, he was thinking about his children and the likelihood of them taking over as team owner one day—and facing the inevitable barrage of criticism.
“In a social media world today, the critics of the ownership of any professional sports team can be brutal,” Cuban pointed out. “I don’t want my kids potentially feeling the pressure to walk into my spot as owner and try to deal with that.”
“When I bought the Mavs, it wasn’t a financial investment,” the 66-year-old explained. “To be honest, I wasn’t looking forward to selling it, but I decided it was the perfect moment. None of this was about economics; it was and still about matters of the heart.”
Cuban children, meantime, are maturing quickly. His oldest daughter, Alexis, is now 22, his daughter Alyssa is 18, and his son Jake is 14. He emphasizes in his parenting style that he does not wish to raise spoiled brats.
“I tell them: After your health, my number-one thing for you all is I don’t want you to be entitled jerks,” he said to Steve Harvey in 2020. “I am not going to write you a check. You don’t merely receive a credit card. You cannot simply buy anything you desire.
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