It’s hard to not know who Mark Cuban is, especially if you follow the NBA. The businessman, investor and media personality has made headlines quite a bit over the last couple of years. Alot of his press however comes through his dealings with the Dallas Mavericks, but there is more to the maverick billionaire than that.
What Business Does Mark Cuban Own? The answer to this question is that Mark Cuban owns the Dallas Mavericks and 2929 Entertainment. Cuban also has large shares in a couple of other businesses after putting in large investments when they started. During his time on TV show, Shark Tank, he was able to invest in major businesses including Ten Thirty-One Productions, The Red Dress Boutique and Rugged Maniac.
You are probably wondering what half of these businesses are and how much of a percentage does he have on them. Well, we are going to cover that right now.
Cuban And the Dallas Mavericks
Mark Cuban’s most high-profile business is the Dallas Mavericks. The NBA franchise was struggling before Cuban decided to hop in and take control of the organization. When he did, they instantly flipped over from a losing team to a winning team. He first purchased the team back in the year 2000 for roughly $285 million. Now, due to the team being based in the third largest city in the United States, Texas, the Mavericks are estimated to be worth $2.7 billion. It’s hard to say that this wasn’t the greatest investment he has ever made in his lifetime. In a little over a decade after Cuban purchased this NBA squad, the team took that next step that he had been dreaming about. Dirk Nowitzki and company helped lead them to the NBA Finals in 2011. Five years earlier they made their first ever NBA Finals appearance in 2006. During that trip, they were able to overcome the odds and win their first ever NBA Championship. So, not only did Cuban make a genius decision to buy the team and drastically improve its overall value, but he also helped turn this team around with his smart personnel moves in the offseason. If you couldn’t tell by now, Cuban is one of the few owners that are completely involved with the organization that they own and want to do everything in their power to help win no matter the cost. Even if it means they have to go a little over the salary cap and he has to pay some extra money out of his own pockets.
2929 Entertainment was another incredibly successful business venture that paid off in the long run. Cuban and a friend of his named Todd Wagner teamed up to create this business. The whole purpose of it was to have another way to develop, finance and produce independent films. The thought was that it could get lesser-known movies into the spotlight that didn’t happen to get the luxury of being produced in Hollywood’s studio system that they have. Since the initial creation, 2929 has been able to acquire subsidiary companies as well to make it even better. Among the acquisitions were HDNet Movies, Magnolia Pictures, AXS TV and Truly Indie. With all of these groups working together to build the brand up, they have been able to make a few strong movies. The most notable releases from this studio that you may have seen were Akeelah and the Bee, George Clooney’s Good Night, Enron: The Smartest Guys in the Room and finally Good Luck. Good Luck was the most successful of the bunch though. It ended up making over $30 million from the box office just in the United States and even got nominated for a whopping six different Academy Awards. One of those awards was even for Best Picture. I think it’s safe to say that this whole business from Wagner and Cuban turned out to be a great success, and one that likely isn’t finished either. We may even see another incredible movie come out of their studios.
Shark Tank Investments
Without a doubt, the best investment that Cuban ever made on the show was with Ten Thirty One Productions. The idea was pitched in Season 5 of the show and their whole purpose is to create live horror experiences. Cuban was immediately interested in the idea and offered an unbelievable $2 million for his opening investment. This was the most amount of money ever offered on the show up to that point and it helped him get a 20 percent stake in the company. Ever since this investment, the company employs over 500 people and surpassed the $3 million revenue mark all the way back in 2014. They are continuing to expand across the United States are unbelievable popular. The next investment that he made was for Rugged Maniac. Rugged Maniac was an idea brought around for an extreme 5K obstacle course. The obstacle course was meant to be brutally tough for the people that showed up and Cuban found it interesting enough to offer $1.75 million. He now owns a 25 percent stake in the company and his money helped Rugged Maniac stretch out to 28 plus cities across the United States. One of their biggest opening years was when they hit $10.5 million. They have a permanent headquarters now and are ridiculously successful. The final major investment that he made was to The Red Dress Boutique. The company pitched the idea to sell accessories and clothing as well as providing full outfits to customers. This group was already wildly popular when they appeared on the show, nearing over $12 million in revenue. Mostly because they had a strong social media presence at the time. Cuban then helped to invest $600,000 for a 15 percent stake in the company. Within five days of this Shark Tank episode airing, the business was able to bring in over $1 million in sales. The success just hasn’t stopped there either, as The Red Dress Boutique has continued to be an excellent business venture for Cuban and the others that invested.