Mark Cuban is making lots of headlines this week and the latest is all about his surprising new business move.
Earlier this week it was reported that Mark intends to leave Shark Tank after the upcoming 16th season.
“I love [the show] because it sends the message the American dream is alive and well,” Mark shared. “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, he’s doing something that might surprise you even more.
Mark is planning on selling a majority stake of his Dallas Mavericks franchise to billionaire Miriam Adelson.
The sale is reportedly for a valuation of $3.5 billion, but The Atlantic reports that Mark “will retain shares in the team and full control of basketball operations.”
Miriam is the largest shareholder of Las Vegas Sands and she announced on Tuesday (November 28) that she is selling approximately 10 percent of her stake, which is worth about $2 billion.
For those who don’t know, Mark purchased the Dallas Mavericks for just $285 million in 2000. Now it’s worth more than 10 times that amount!
See where the sharks of Shark Tank rank in terms of net worth.
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