Mark Cuban was born on 31 July 1958. He is an American billionaire businessman, film producer, investor and television personality. He is the proud owner of the Dallas Mavericks of the National Basketball Association (NBA). He is also the co-owner of 2929 Entertainment and one of the main 'sharks' on the ABC reality television series Shark Tank.
Did you know that Marc started his career as a bartender for a Greenville Avenue bar called Elan? He went on to grow his own company, MicroSolutions, to more than $30 million in revenue and then sold the business in his first successful deal for $2 million after tax.
Why is Marc Cuban selling the Mavericks?
Well, with the deal assumed to be valued at $3.5 billion, he is going to earn $2 to $3 billion. Despite selling he will still control all basketball decisions. The deal was needed because they needed an infusion of cash. With the money he earns, Marc wants to develop 2 new projects in Dallas: a brand new state-of-the-art arena and a casino district, for which he is partnering with the Alon family, a well-known casino developer. For these development plans to become a success story, he is selling now, in the right market conditions.
Marc Cuban and Bitcoin.
Cuban has a huge interest in DeFi (decentralized finance), but also owns a portfolio of multiple cryptocurrencies, including Bitcoin and Ethereum. He is the type of investor who understands the stability of Bitcoin but wants to be exposed to the more revolutionary protocols within the crypto ecosystem. Therefore he developed a keen interest in DeFi.
So with all the money he earns, he might decide it's the right moment to front-run the Spot Bitcoin ETFs, just a thought.
