"He was miscast" — When Shark Tank's Mark Cuban recalled losing Twister role to Philip Seymour Hoffman

Shark Tank investor Mark Cuban sat down for an interview with GQ and replied to fan questions posted on the internet during a segment called Actually Me on September 28, 2019. During the interview, he opened an IMDb page where there was an information about him that after selling his first company, Cuban tried his hand at acting.

He was rumored to have auditioned for a role in the 1996 film Twister, but ultimately lost out to actor Philip Seymour Hoffman. Mark Cuban replied that the information was true and elaborated on how it happened.

Shark Tank investor shared that following the sale of his company, he began trading technology stocks and achieved some success. This led him to establish a hedge fund, which he soon sold. He then relocated to Los Angeles, intending to retire and enjoy life on the beach. However, he found himself taking acting classes, motivated by a desire to meet new people.

Cuban's acting classes provided him with opportunities to interact with cast members from shows like In Living Color. He began auditioning for commercials and landed roles in ads for Taco Bell and Ford. His audition for the film Twister earned him two callbacks, but he failed to secure the part of Dusty.

"I watched the movie, Philip Seymour Hoffmana is Dusty. Academy Award actor. I was right for the role, he was miscast," claimed Cuban.

---

Shark Tank star Mark Cuban reveals how he protected his billion dollars during the dot-com crash

In the same interview, Mark Cuban revealed how he safeguarded his wealth during the dot-com crash. After selling broadcast.com to Yahoo for $5.7 billion in stock, Cuban's net worth exceeded $1 billion, as reported by Forbes.

Despite advice to hold onto his stock, Cuban opted to protect his assets rather than risk further gains. Drawing on his experience trading technology stocks, Cuban employed a strategic financial maneuver.

He sold call options on Yahoo stock, which granted the buyer the right to purchase the stock at a higher price. Cuban then used the proceeds to buy put options, allowing him to sell the stock at a predetermined value if the price dropped. When the internet stock market bubble burst, Cuban's hedging strategy paid off, saving him from losses.

"I went to my broker, and I did something called a caller, and I had to wait six months, and that was a nerve-wracking six months," stated the Shark Tank investor.

He further explained how he went about safeguarding his assets.

"But I sold what's called calls on Yahoo, which gave somebody else the right to buy it at a higher price, and I used that money to buy something called puts, which meant if the stock dropped below a certain point, I was able to sell that stock at the value of the put when the Internet stock market bubble burst, that saved me," revealed Cuban.

---

Mark Cuban doesn't worry about the deals that got away on Shark Tank

For the unversed, Shark Tank's format involves a rapid-fire pitching process, where entrepreneurs present their ideas to the sharks with little prior knowledge. These pitches are condensed into 10-14 minute television segments, but in reality, they can last anywhere from 30 minutes to two hours. The sharks face a grueling schedule, with multiple pitches lined up back-to-back over several weeks.

Mark Cuban shared in the GQ interview that he didn't harbor regrets over passing on investment opportunities presented on the show. He said that his focus remains on the investments he has made, rather than those that slipped away.

"Once they leave, they are gone, lost, forgotten. I don't pay attention to any deals that I didn't get. As Kevin would say, they're dead to me," stated Mark Cuban.

---

Shark Tank is currently airing season 16, which marks Mark Cuban's last season on the show.