Why Mark Cuban threw away his watch when he grew to become a millionaire

Why Mark Cuban threw away his watch when he grew to become a millionaire

Some folks have a good time massive profession wins by splurging on a Rolex watch.

Not Mark Cuban. At age 32, he offered his first startup — a software program firm known as MicroSolutions — for $6 million. That very same day, he took off his watch and threw it away, he stated at a SXSW panel earlier this month.

It was symbolic: After gaining that monetary safety, he did not wish to really feel like anybody owned his time, he stated.

“Time is the one asset you possibly can by no means get again. You may by no means really personal [it],” stated Cuban, 65. “I needed to be … able the place I get to name my very own pictures [and] spend time the best way I needed to spend time. That was all the time my motivating issue.”

Cuban inherited that mantra at age 14 from his dad, who labored 60 hours per week for a corporation that upholstered automobiles outdoors of Pittsburgh, he instructed CNBC Make It final month. Typically, his dad introduced him to work to point out him what it seemed prefer to work for another person.

“This time wasn’t spent to study what my dad did, however to study that his job did not have a future,” Cuban stated. “His time was by no means his personal … he needed me to create my very own path.”

When Cuban’s subsequent firm, audio streaming service Broadcast.com, offered to Yahoo for $5.7 billion in inventory in 1999, he took a a lot bigger step towards defending his time: shopping for a non-public airplane for $40 million.

The transaction remains to be the biggest single e-commerce transaction within the Guinness E-book of World Data. “[Buying a private plane] was my all-time purpose as a result of the asset I worth probably the most is time, and that purchased me time,” Cuban instructed instructed Cash in 2017.

Right now, Cuban wears an Apple Watch to trace his well being metrics, he stated at SXSW — nevertheless it hasn’t modified his stance on time. He spends most of it both along with his household, serving to run the NBA’s Dallas Mavericks, showing on ABC’s “Shark Tank” or working his pharmaceutical firm, Value Plus Medication.

“I needed to make sufficient cash so I did not have to answer anyone else,” Cuban stated in a not too long ago launched MasterClass course. “I might make my very own schedule and stay my very own life the best way I needed to do it.”

Disclosure: CNBC owns the unique off-network cable rights to “Shark Tank.”

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