"Deep pockets" — When Shark Tank star Mark Cuban opened up about being targeted with lawsuits for his wealth

Shark Tank star Mark Cuban talked about the challenges of being wealthy and popular. During his appearance on Theo Von's podcast This Past Weekend on September 25, 2024, Cuban shared:

"The side effects... people sue you cuz you're the deep pockets."

He explained how his financial success often makes him a target for lawsuits, adding:

"I've been sued five times my whole life... and four of them were because someone's just trying to get money."

The podcast conversation delved into the complications of Cuban's public image, his cautious approach to life, and the impact of his fame on his family. As a prominent figure on Shark Tank and a successful businessman, Cuban highlighted the pressures of being perceived as an accessible source of wealth. He described it as an inevitable downside of his financial achievements.

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Shark Tank star Mark Cuban's view on lawsuits

Mark Cuban’s appearance on This Past Weekend centered on the challenges that come with wealth and public recognition. Cuban shared that the perception of being wealthy often attracts legal disputes. Mark Cuban revealed that he has faced five lawsuits throughout his life, with four of them solely aimed at obtaining money. He explained:

“They’ll name multiple people in the lawsuits and they’ll let the other people off the hook... they won’t let me [go] because I’m the deep pockets.”

The podcast host, Theo Von, referenced a similar story from Jimmy John Liautaud, founder of Jimmy John's, who reportedly sold his sandwich chain to avoid being bogged down by lawsuits. Cuban agreed, acknowledging that navigating lawsuits requires caution and vigilance.

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Mark Cuban on the impact of wealth on his family

Cuban also opened up about how his fame and wealth have shaped his children’s lives. He described the pressure they face because of his status, noting:

“It’s not their life... they inherited us... and it’s not necessarily easy.”

He further elaborated on how his actions and decisions, whether intentional or accidental, could have amplified consequences for his kids. Cuban recounted a conversation with his children, saying:

“I told all my kids... you f**k up, it’s on the front page of the paper because you’re my kid. So you’ve got to be a little bit extra careful.”

The Shark Tank star recalled a moment when one of his sons was frustrated about the constant attention Cuban’s presence brought. He mentioned his kid telling him:

“Everything changes [when you’re there]. I just want to be normal.”

Cuban admitted this broke his heart but he acknowledged the reality of their situation.

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Who is Mark Cuban?

Mark Cuban is a celebrated entrepreneur, billionaire, and one of the most recognizable personalities on Shark Tank. He began his business journey at the age of 12, selling garbage bags door-to-door. As per Forbes, Cuban later co-founded companies like MicroSolutions and Broadcast.com, the latter of which he sold to Yahoo! for $5.7 billion in 1999. He stated in his Shark Tank bio:

"I'm just a lean, mean shark machine, baby!"

As the owner of the Dallas Mavericks, Cuban revolutionized the fan experience at NBA games by incorporating innovative technology and unique entertainment options. Beyond sports, Cuban is also the chairman of HDNet and co-owns the Landmark Theater chain and Magnolia Pictures.

Since joining Shark Tank, Cuban has become a household name, using his expertise to mentor aspiring entrepreneurs and invest in startups.

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Shark Tank airs every Friday on ABC at 8 PM ET.