Inside Mark Cuban’s $6.2bn business empire as mystery surrounds Dallas Mavericks sale and shock exit from Shark Tank T

MARK Cuban sent shockwaves this week with his surprise exit from ABC’s Shark Tank and plan to sell the Dallas Mavericks.

Now all eyes are on what the billionaire businessman will do next with his life and career.

Mark Cuban is poised to sell a majority stake in the Dallas MavericksCredit: Getty

Cuban watches the Mavericks in action against the Houston Rockets on Tuesday eveningCredit: Getty

The billionaire also announced he was leaving ABC’s Shark Tank this weekCredit: Getty

Cuban has flirted with politics in the pastCredit: AP
Social media is ablaze with rumors that Cuban will make a run for United States president, something he has publicly mused for a number of years.

But during the summer, Cuban told NBC News he was not planning a presidential run in 2024.

“No. My family would disown me,” Cuban said.

Cuban is worth an incredible $6.2 billion, according to Forbes.

And he will enter the next chapter of his life even richer than before, with plans to sell the Mavericks to casino tycoon Miriam Adelson in a deal which values the NBA franchise at $3.5 billion.

It is unclear at this moment the size and value of the stake which Adelson, the widow of casino magnate Sheldon Adelson, plans to purchase.

But her company on Tuesday revealed that it was selling $2 billion of her shares to purchase “a majority interest in” an unnamed “professional sports franchise.”

Under the terms of the deal, Cuban would still maintain full control of the Mavericks’ basketball operations.

And he will make a huge profit having purchased the Mavericks for $285 million in 2000.

Cuban, 64, has come a long way since showing his entrepreneurial spirit as a child in Pittsburgh.

“Selling garbage bags door-to-door, selling magazines, selling candy door-to-door,” he told CBS News.

“‘Hi, my name is Mark. Do you use garbage bags? If you just call me every time you need garbage bags, they’re only $6 per a hundred, I’ll come and I’ll just drop ’em off at the house.’

“Once you’re a salesperson and you know how to sell, there’s nothing you can’t do.”

After graduating from Indiana University, Cuban tried his luck as a pub landlord, a banker and even an actor.

He got his first taste of money aged 30 when he made $2 million selling a software company he had built called MicroSolutions.

Cuban then made his fortune when he co-founded AudioNet, which later became Broadcast.com.

The internet sports radio company was sold to Yahoo for $5.7 billion in stock in 1999.

Cuban sold most of his stock before the dot-com bubble crashed, allowing him to take over the Mavericks which has since rocketed in value.

He joined Shark Tank in 2012 and as of last year he had invested $29 million in at least 85 companies that have appeared on the business reality show.

Cuban has also invested in a multitude of other companies ranging from healthcare to digital assets and Blockchain technology.

He also co-founded an online pharmacy, which is called Mark Cuban CostPlus Drug Company, which aims to keep prescription drugs at affordable prices to millions of Americans.

Cuban’s plan to sell the Mavericks still needs to be approved by the NBA Board of Governors, and it seems he will still be heavily involved in the franchise.

Meanwhile, he revealed this week that Season 16 of Shark Tank will be his last on the podcast All The Smoke.

“It’s time,” he said.

“I love [the show] because it sends the message the American dream is alive and well.”

The NBA owner continued: “I feel like in doing Shark Tank all these years, we’ve trained multiple generations of entrepreneurs.

“That if somebody can come from Iowa or Sacramento or wherever, and show up on the carpet of Shark Tank and show their business and get a deal, it’s going to inspire generations of kids. That’s what happens, right?

“Now we’ve got people coming on saying ‘I watched you when I was 10 years old’. I’m like, f**k. But we’re helping them right?

“I’ve invested in, I don’t know how many hundreds of companies. On a cash basis, I’m down a little bit, but on mark-to-market meeting, the companies are still in operation. I’m way up.”