Buy low, sell high. Mark Cuban just proved himself a master of that tried-and-true investment mantra.
The Shark Tank mainstay is not only swimming away from that show after 14 successful seasons, he has now received approval from the NBA Board of Governors to sell the majority stake in his beloved Dallas Mavericks.
Cuban bought the Mavericks for $285 million in 2000 is now selling the team for about $3.5 billion. That’s a cool $3-plus billion over the purchase price and Cuban will reportedly retain 27% of the team and may well retain control of basketball operations. A pretty sweet deal.
Per Yahoo Sports:
Cuban is selling at a time franchise values are rising (in part based on a new national television broadcast deal starting in 2025 [that is] expected to double that national revenue) and likely expansion will bring a flood of cash to teams’ bottom lines (through expansion fees). Cuban has expressed concern in...
The Shark Tank mainstay is not only swimming away from that show after 14 successful seasons, he has now received approval from the NBA Board of Governors to sell the majority stake in his beloved Dallas Mavericks.
Cuban bought the Mavericks for $285 million in 2000 is now selling the team for about $3.5 billion. That’s a cool $3-plus billion over the purchase price and Cuban will reportedly retain 27% of the team and may well retain control of basketball operations. A pretty sweet deal.
Per Yahoo Sports:
Cuban is selling at a time franchise values are rising (in part based on a new national television broadcast deal starting in 2025 [that is] expected to double that national revenue) and likely expansion will bring a flood of cash to teams’ bottom lines (through expansion fees). Cuban has expressed concern in...
- 12/27/2023
- by Tom Tapp
- Deadline Film + TV
Mark Cuban is giving up his seat at the table. The investor and longtime Shark Tank star has announced he’s leaving the popular ABC reality show. The move comes not long after his decision to sell a majority stake in the NBA’s Dallas Mavericks for $3.5 billion.
Mark Cuban is worth $6.2 billion
Cuban, 65, is no stranger to big money moves. He built his wealth in the early years of the dot-com boom thanks to Broadcast.com, which he founded with Todd Wagner in 1995. He cashed out at the right time, selling it to Yahoo in 1999 for $5.7 billion.
Later, Cuban went on to buy the Mavericks for $285 million. More recently, he cofounded Cost Plus Drugs, which aims to lower prescription drug prices. In 2011, he joined the cast of Shark Tank.
Cuban’s various entrepreneurial endeavors and investments have netted him an impressive net worth. As of 2023, he was worth an estimated $6.2 billion,...
Mark Cuban is worth $6.2 billion
Cuban, 65, is no stranger to big money moves. He built his wealth in the early years of the dot-com boom thanks to Broadcast.com, which he founded with Todd Wagner in 1995. He cashed out at the right time, selling it to Yahoo in 1999 for $5.7 billion.
Later, Cuban went on to buy the Mavericks for $285 million. More recently, he cofounded Cost Plus Drugs, which aims to lower prescription drug prices. In 2011, he joined the cast of Shark Tank.
Cuban’s various entrepreneurial endeavors and investments have netted him an impressive net worth. As of 2023, he was worth an estimated $6.2 billion,...
- 12/1/2023
- by Megan Elliott
- Showbiz Cheat Sheet
Veteran producer Arnon Milchan testified on Sunday in the long-running corruption trial against Israeli Prime Minister Benjamin Netanyahu, involving three separate charges of breach of trust and fraud.
Milchan gave his evidence via video-link to the Jerusalem District Court from a room in The Old Ship Hotel in the UK seaside resort of Brighton, close to his current home, in the presence of Netanyahu’s wife Sara Netanyahu.
Scores of Israeli demonstrators gathered outside the hotel to protest corruption in Israel as well as Netanyahu’s controversial overhaul of the judiciary.
Defend Israeli Democracy UK, the UK arm of the Israeli protest movement, is demonstrating outside a Brighton hotel this morning where Hollywood billionaire producer Arnon Milchan is giving testimony in the corruption trial of Benjamin Netanyahu via video link to Jerusalem pic.twitter.com/kuaX5WM4dj
— Daniel Ben-David (@DannyBenDavid) June 25, 2023
Milchan told the hearing he had given gifts of champagne,...
Milchan gave his evidence via video-link to the Jerusalem District Court from a room in The Old Ship Hotel in the UK seaside resort of Brighton, close to his current home, in the presence of Netanyahu’s wife Sara Netanyahu.
Scores of Israeli demonstrators gathered outside the hotel to protest corruption in Israel as well as Netanyahu’s controversial overhaul of the judiciary.
Defend Israeli Democracy UK, the UK arm of the Israeli protest movement, is demonstrating outside a Brighton hotel this morning where Hollywood billionaire producer Arnon Milchan is giving testimony in the corruption trial of Benjamin Netanyahu via video link to Jerusalem pic.twitter.com/kuaX5WM4dj
— Daniel Ben-David (@DannyBenDavid) June 25, 2023
Milchan told the hearing he had given gifts of champagne,...
- 6/25/2023
- by Melanie Goodfellow
- Deadline Film + TV
Washington — It was a ritual of the modern Republican Party. House and Senate hopefuls locked in a tough reelection fight, outside consultants who wanted to refill their campaign coffers, presidential wannabes who dreamt of being the next commander-in-chief — they all made the pilgrimage to Las Vegas, and specifically to the personal office of the billionaire casino mogul Sheldon Adelson. They made sure on their way in to avoid stepping in any excrement left behind by Adelson’s secretary’s dog. And they made even more sure to kiss the ring...
- 1/12/2021
- by Andy Kroll
- Rollingstone.com
Keep Memory Alive's 24th annual Power of Love gala at MGM Grand Garden Arena on Saturday, March 7 brought top artists and performers Billy Ray Cyrus, Kenny “Babyface” Edmonds, Kelsey Grammer, Sammy Hagar, Derek Hough, Chris Isaak, Jimmy Kimmel, Katlyn Nichols, Greg Phillinganes and more together to honor music legend Neil Diamond and raise crucial funds and awareness for Cleveland Clinic Lou Ruvo Center for Brain Health.
Neil Diamond performs onstage at the 24th annual Keep Memory Alive Power of Love Gala
Credit/Copyright: Bryan Steffy/Getty Images for Keep Memory Alive
Also in attendance were Paula Abdul, star of E!’s hit TV show “Botched” Paul Nassif, M.D., “Bar Rescue” star Jon Taffer, British singer Matt Goss, jeweler Steven Lagos, chef Hubert Keller, magician Hans Klok, photocomposer Ryszard Horowitz and owner Mark Davis, president Marc Badain and coach Jon Gruden of the Las Vegas Raiders.
Paying tribute to Diamond’s iconic music,...
Neil Diamond performs onstage at the 24th annual Keep Memory Alive Power of Love Gala
Credit/Copyright: Bryan Steffy/Getty Images for Keep Memory Alive
Also in attendance were Paula Abdul, star of E!’s hit TV show “Botched” Paul Nassif, M.D., “Bar Rescue” star Jon Taffer, British singer Matt Goss, jeweler Steven Lagos, chef Hubert Keller, magician Hans Klok, photocomposer Ryszard Horowitz and owner Mark Davis, president Marc Badain and coach Jon Gruden of the Las Vegas Raiders.
Paying tribute to Diamond’s iconic music,...
- 3/12/2020
- Look to the Stars
Mike Bloomberg is worth more than $60 billion and has used his riches to influence politics on both sides of the aisle. He’s also plowed more than $500 million into his own presidential campaign, leading his 2020 Democratic primary competitors to warn — less as an accusation and more as a stipulation of the obvious — that the former New York City mayor is trying to buy the presidency.
Not playing against type on the debate stage Tuesday night in South Carolina, Bloomberg appeared to brag of buying Democrats a House majority in 2018.
As...
Not playing against type on the debate stage Tuesday night in South Carolina, Bloomberg appeared to brag of buying Democrats a House majority in 2018.
As...
- 2/26/2020
- by Tim Dickinson
- Rollingstone.com
Washington — Anonymous campaign cash is as much a fixture of American politics nowadays as yard signs and awkward photos of presidential contenders eating corn dogs. Dark money may have existed well before Citizens United, but that 2010 Supreme Court decision opened the floodgates for untraceable money to soak our elections. It also left voters clueless about who was putting up the hundreds of millions of dollars spent by groups with anodyne names like Priorities USA and Americans for Prosperity.
One of the most infamous players in the dark-money game was an...
One of the most infamous players in the dark-money game was an...
- 10/29/2019
- by Andy Kroll
- Rollingstone.com
For years, the possibility of legalizing recreational adult-use marijuana in Florida was little more than an afterthought — but in recently, momentum’s picked up. In 2016, Florida voters approved an initiative that legalized medical cannabis, only for state lawmakers to subsequently ban smokeable forms until earlier this year. Now, legal recreational marijuana in Florida may be a reality as soon as 2020.
One of the signs of cannabis-related change next year is the new political committee Make It Legal Florida, which registered with the state earlier this month. It’s chaired by Nick Hansen,...
One of the signs of cannabis-related change next year is the new political committee Make It Legal Florida, which registered with the state earlier this month. It’s chaired by Nick Hansen,...
- 8/16/2019
- by Xander Peters
- Rollingstone.com
Donald Trump’s 2017 inauguration is under investigation by by federal prosecutors in New York for possible financial abuses of the eye-popping $107 million raised by the committee, The Wall Street Journal reported on Thursday.
According to the Journal, the probe — which is still in its early stages — is looking into whether the committee took donations from individuals seeking access into the new administration.
The investigation started after federal agents seized materials from Trump’s former longtime lawyer and fixer Michael Cohen, who was sentenced Wednesday to three years in federal prison, the paper said.
Also Read: Trump Team Scrambles for A-List Inaugural Performers: 'They Are Willing to Pay Anything' (Exclusive)
TheWrap has not corroborated the Journal’s report.
In April, FBI agents raided Cohen’s office and hotel room looking for evidence in connection with a payment Cohen made to adult film star Stormy Daniels, who said she had an sex...
According to the Journal, the probe — which is still in its early stages — is looking into whether the committee took donations from individuals seeking access into the new administration.
The investigation started after federal agents seized materials from Trump’s former longtime lawyer and fixer Michael Cohen, who was sentenced Wednesday to three years in federal prison, the paper said.
Also Read: Trump Team Scrambles for A-List Inaugural Performers: 'They Are Willing to Pay Anything' (Exclusive)
TheWrap has not corroborated the Journal’s report.
In April, FBI agents raided Cohen’s office and hotel room looking for evidence in connection with a payment Cohen made to adult film star Stormy Daniels, who said she had an sex...
- 12/13/2018
- by Itay Hod
- The Wrap
Is billionaire Nike founder Phil Knight trying to buy a Republican governor? If that question sounds outlandish, so are the facts. Knight has directly given the campaign of Oregon gubernatorial candidate Knute Buehler $2.5 million dollars. Knight has also given $1 million to the Republican Governors’ Association, which steered nearly that amount into Buehler’s campaign.
Knight’s backing of a member of Donald Trump’s Republican party creates dissonance at a moment when Nike has launched its new “Just Do It” campaign featuring blackballed quarterback Colin Kaepernick. Trump has maligned Kaepernick...
Knight’s backing of a member of Donald Trump’s Republican party creates dissonance at a moment when Nike has launched its new “Just Do It” campaign featuring blackballed quarterback Colin Kaepernick. Trump has maligned Kaepernick...
- 10/23/2018
- by Tim Dickinson
- Rollingstone.com
Bill Maher famously donated $1 million to Barack Obama to defeat Mitt Romney, then more recently joked he’d gladly hand over the same amount for Romney to take over from Donald Trump. But now the HBO host is really ponying up again: Deadline has confirmed that Maher has donated $1 million to the Senate Majority Pac to help get Democrats in the Senate.
The contribution addresses two of the peeves most often expressed by the host on Real Time with Bill Maher: what he views as a certain tightfistedness among Democratic one-percenters and what he thinks is the archaic structure of a Senate predisposed to favor big, red states with small populations.
His latest contribution goes to the Senate Majority Pac, a fundraising committee aligned with Senate Minority Leader Chuck Schumer.
“I’m very appreciative of Bill’s generosity and urge all Americans to do everything they can to take back...
The contribution addresses two of the peeves most often expressed by the host on Real Time with Bill Maher: what he views as a certain tightfistedness among Democratic one-percenters and what he thinks is the archaic structure of a Senate predisposed to favor big, red states with small populations.
His latest contribution goes to the Senate Majority Pac, a fundraising committee aligned with Senate Minority Leader Chuck Schumer.
“I’m very appreciative of Bill’s generosity and urge all Americans to do everything they can to take back...
- 8/23/2018
- by Greg Evans
- Deadline Film + TV
Bill Maher has contributed $1 million to the Senate Majority Pac, the fundraising committee aligned with Senate Minority Leader Chuck Schumer and dedicated to electing Democrats to the Senate.
Maher’s donation follows comments he made on his HBO talk show “Real Time” in June in which he warned of Democrats being vastly outspent by rich Republican donors. He even called out tech titans like Jeff Bezos, Mark Zuckerberg, and Bill Gates for giving scant contributions in 2016.
Maher’s contribution mirrors a $1 million donation he made in 2012 to Priorities USA Action, a super Pac backing President Barack Obama’s reelection. Back then, Maher also warned of the number of well-heeled billionaires pouring money into Mitt Romney’s campaign.
“We sincerely thank Bill Maher for his generous donation,” J.B. Poersch, president of the Senate Majority Pac, said in a statement. “Maher’s attention to our efforts this cycle underscores the building...
Maher’s donation follows comments he made on his HBO talk show “Real Time” in June in which he warned of Democrats being vastly outspent by rich Republican donors. He even called out tech titans like Jeff Bezos, Mark Zuckerberg, and Bill Gates for giving scant contributions in 2016.
Maher’s contribution mirrors a $1 million donation he made in 2012 to Priorities USA Action, a super Pac backing President Barack Obama’s reelection. Back then, Maher also warned of the number of well-heeled billionaires pouring money into Mitt Romney’s campaign.
“We sincerely thank Bill Maher for his generous donation,” J.B. Poersch, president of the Senate Majority Pac, said in a statement. “Maher’s attention to our efforts this cycle underscores the building...
- 8/23/2018
- by Ted Johnson
- Variety Film + TV
The World Values Network is honored to announce the presence of television personality and Olympic gold medal-winning decathlete Caitlyn Jenner at their Sixth Annual Champions of Jewish Values International Awards Gala, which will be held on March 8th, 2018 at The Plaza in New York City.
Having already summited the spheres of athletics and entertainment, Caitlyn became one of the foremost exponents of Lgbtq rights in the world today and has become a cultural icon. Widely considered the most famous openly transgender woman on earth, she is also a sincere supporter of the State of Israel, which has always been a world leader in securing the rights and wellbeing of people of all identities. In a region where discrimination, persecution, and even execution are daily realities for Lgbtq communities and individuals, Israel’s message of liberty and tolerance must be desperately heeded.
Rabbi Shmuley Boteach said, “Israel is a bastion of...
Having already summited the spheres of athletics and entertainment, Caitlyn became one of the foremost exponents of Lgbtq rights in the world today and has become a cultural icon. Widely considered the most famous openly transgender woman on earth, she is also a sincere supporter of the State of Israel, which has always been a world leader in securing the rights and wellbeing of people of all identities. In a region where discrimination, persecution, and even execution are daily realities for Lgbtq communities and individuals, Israel’s message of liberty and tolerance must be desperately heeded.
Rabbi Shmuley Boteach said, “Israel is a bastion of...
- 1/26/2018
- Look to the Stars
Time may be up for Newt Gingrich; but his biggest backer is not going away. Sheldon Adelson, the casino billionaire who with his wife donated $16.5 million dollars to a Newt-linked Super Pac – and later said he might be willing to up that to $100 million – has made it plain he’ll eagerly switch his allegiance to whichever Republican faces Barack Obama in the fall.
But the reporting about the 78-year-old mogul – listed by Forbes in 2008 as America's third-richest man – has frequently been misleadingly incomplete. Take this front-page New York Times profile...
But the reporting about the 78-year-old mogul – listed by Forbes in 2008 as America's third-richest man – has frequently been misleadingly incomplete. Take this front-page New York Times profile...
- 4/10/2012
- by Rick Perlstein
- Rollingstone.com
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