Mark Cuban bought Mavericks for $285 million, now worth $2.7 billion
Mark Cuban bought the Dallas Mavericks from Ross Perot Jr. for $285 million in 2000. Now, the NBA team is worth over $2.7 billion in 2022. The entrepreneur made his multimillion-dollar investment at the best possible time. Dirk Nowitzki was selected ninth overall by the Milwaukee Bucks in the 1998 NBA Draft.
Of course, the forward was then traded to the Mavericks. With Dirk, the team made its first playoff appearance in 11 years in 2001. Dallas finished the regular season 53-29 (.646). However, after defeating the Utah Jazz in five games during the first round, the San Antonio Spurs pummeled them in the conference semifinals.
Mark Cuban turns 64 today.
A reminder that he purchased the Dallas Mavericks for $285 million in 2000.
22 years later, the Mavs are worth over $2.7 billion.
HBD to a 🦈. pic.twitter.com/DWtOPEOFue
— Boardroom (@boardroom) July 31, 2022
The Mavericks also advanced to the 2006 NBA Finals under coach Avery Johnson. But the team fell short against the Miami Heat. Johnson won Coach of the Year after Dallas finished the regular season 60-22 (.732) and ranked fourth in the Western Conference.
Five years later, in the 2011 NBA Finals, the Mavs won their first championship in franchise history over LeBron James and the Miami Heat. At the 2011 ESPYs, Mark Cuban won the Outstanding Team ESPY Award.
While the Mavs failed to win another championship last season, they still made it to the Western Conference Finals. NBA analysts were expecting a quick first-round exit. Therefore, Dallas exceeded expectations. It was also Jason Kidd’s first season coaching the team.
Mark Cuban net worth and extensive fines history
Furthermore, Mark Cuban is never afraid to speak his mind. That’s an understatement. Based on 13 incidences pertaining to tampering, league criticism and scorning referees, the billionaire has been fined about $1.665 million by the NBA since 2000.
In 2014, he was fined $100,000 after using harsh language directed toward referees. Then, on Feb. 21, 2018, the owner received a $600,000 fine after saying the Mavs should tank for the rest of the season.
Not to mention, Cuban was fined $500,000 in 2020 for “public criticism and detrimental conduct regarding NBA officiating.” The full list is quite long.
In addition to being the majority owner of the Mavs, Cuban is also a co-owner of 2029 Entertainment. According to Forbes, with an estimated net worth of $4.7 billion, Cuban ranked No. 177 on the Forbes 400 list in 2020.
As of 2022, Mark Cuban’s net worth is $4.3 billion. The billionaire is also a shark investor on the ABC and NBC reality show Shark Tank. The Pittsburgh, Pennsylvania native celebrated his 64th birthday on Sunday.
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Published at Mon, 01 Aug 2022 14:34:59 +0000