When it pertains to high-end costs, billionaire Mark Cuban fixes a limit at private yachts, butlers and home cleaning company.
“I just try to be the same person, I mean, as I was when I was poor, middle and rich,” Cuban, 65, informed “The Really Good Podcast” onThursday “The whole idea of like, get a yacht … it’s just not what I would do.”
Cuban, a serial business owner and start-up financier, has a net worth of $5.1 billion, according toForbes He’s not opposed to big-ticket purchases: He invested $13 million on a 24,000- square-foot Dallas estate and $40 million for a personal Gulfstream V company jet in 1999, soon after ending up being a billionaire. The list below year, he purchased the NBA’s Dallas Mavericks for $285 million.
Rather, Cuban’s choice to not spend for specific services is less about thriftiness and more about his desire for a personal life. His household normally does their own tasks, like cleaning clothing and cooking meals, he kept in mind.
“I like the privacy,” Cuban stated. “I’ve been around people who hire somebody to do everything for them, and that’s just, like, no privacy.”
Similarly, Cuban didn’t feel the requirement to make brand-new buddies upon getting in a brand-new tax bracket, he stated: “Most of my friends are guys that I moved to Dallas with or friends in Indiana from school. We still tell the same stupid ass stories and do the same stupid s—, and you know, that’s good.”
In January, Cuban informed CBS’s “Sunday Morning” that he ‘d strove to keep his wealth from altering his character, which he ‘d be simply as delighted with 1% of his net worth. Later in the interview, a group of Cuban’s youth buddies validated it.
“Little more full of it, but not that much more full of it,” Jerry Katz, among those buddies, stated. “But still the same guy.”
That isn’t the case for many people: Typically, the wealthier you feel, the even worse you act, according to Paul Piff, an associate teacher of mental science at the University of California, Irvine.
“As a person’s levels of wealth increase, their feelings of compassion and empathy go down, and their feelings of entitlement, of deservingness and their ideology of self-interest increases,” Piff stated in a 2013 TED Talk.
When that occurs, little truth checks can assist you return on track, Piff included: “Small nudges in certain directions can restore levels of egalitarianism and empathy.”
Cuban now owns 3 homes, and describes a number of his personal jets as his “best toys,” he stated on the podcast. Buying a personal jet “was my all-time goal, because the asset I value the most is time, and that bought me time,” he informed Money in 2017.
Still, Cuban wishes to stay the exact same individual he was when he was “broke,” he stated on the podcast.
“When I was broke, I had a blast,” statedCuban “I loved my life … I was still having fun.”
Disclosure: CNBC owns the special off-network cable television rights to “Shark Tank,” which functions Mark Cuban as a panelist.
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