"Living like a student" — Shark Tank star Mark Cuban shares insights on his financial approach during the early stages of his career

Mark Cuban, the longtime Shark Tank investor, recently shared insights about his financial mindset during the early stages of his career. Appearing on a podcast hosted by Jules Terpak on December 17, 2024, Cuban reflected on the lessons that shaped his approach to money. He also revealed his philosophy, which was central to his early success.

“Live like a student. Save your money,” he said.

Inspired by the book How to Retire by the Age of 35, Cuban adopted a minimalist lifestyle, saving aggressively and avoiding unnecessary luxuries, even after earning $2 million from selling his company MicroSolutions. He even bought an American Airlines to travel extensively in a calculated way.

The billionaire investor is set to leave Shark Tank, ending his long run on the show after season 16.

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Shark Tank: Mark Cuban's early career

During his conversation with Terpak, Cuban credited his financial philosophy to lessons from his father and early experiences with limited resources. After earning $2 million from MicroSolutions, the Shark Tank investor resisted the temptation to splurge.

“I literally remember calling up my broker and saying, I want you to invest for me like a 60-year-old,” he said.

Cuban said that he emphasized his focus on long-term stability rather than risky investments. Despite his newfound wealth, he maintained a modest lifestyle, purchased "the worst house in the best neighborhood," avoided luxury cars, and continued living simply. His goal, he explained, was to enjoy life and experiences rather than accumulate material possessions.

“I wanted to live like a student, just have fun,” Cuban remarked.

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Evolving relationship with money

Cuban's relationship with money evolved significantly after his success with MicroSolutions. While he initially focused on living modestly, his expertise in technology and finance opened doors to lucrative opportunities. He recounted how his knowledge of emerging technologies made him a valuable resource for analysts at firms like Goldman Sachs.

Cuban began leveraging his insights to make impactful investments, eventually starting and selling a hedge fund within nine months. By the time he co-founded AudioNet (later Broadcast.com), Cuban had reached financial independence and security.

“I had enough money where I was like, OK, I’m set,” he added.

This turning point marked a shift in Cuban's career. No longer burdened by financial stress, he pursued ventures that aligned with his interests, including pioneering innovations in streaming media. According to Forbes, he sold his work with Broadcast.com to Yahoo! for $5.7 billion.

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Leaving Shark Tank

After over a decade as a regular investor on Shark Tank, Cuban recently announced his departure from the show following season 16. A staple of the series since season 3, he cited family priorities as the primary reason for his decision. On October 14, 2024, he explained to The Wrap that as teenagers, his children now need more of his presence and guidance.

“I’m leaving just to spend more time with my kids,” he said.

While stepping back from the show, Cuban reassured fans that he would continue to support the businesses he's invested in through periodic updates. The investor has backed more than 85 companies during his tenure on Shark Tank.

Despite his departure, Cuban remains active in other ventures, including CostPlusDrugs.com, which aims to revolutionize the pharmaceutical industry by offering medications at transparent, low prices.

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Shark Tank airs every Friday at 8/7c.