Stephen Lovekin/Shutterstock for AWNewYork / Stephen Lovekin/Shutterstock for AWNewYork
Mark Cuban, one of the top 100 money experts, achieved billionaire status through his entrepreneurial endeavors, but the 'Shark Tank' star doesn't attribute much to his massive financial success. believes that luck has a lot to do with it.
“Anyone who is a billionaire and thinks they can do it all over again is lying,” Cuban said on “What Now?” With Trevor Noah” Podcast. “If the Internet stock market hadn't exploded when we started AudioNet, you wouldn't even know who I was. That's just how it works. Could I be a millionaire? Yes, because I could hustle, and I could sell, and I was smart. But the whole millionaire aspect, billions of dollars, is just insane. .”
Fortunately, there are still ways to build great wealth without “luck.” Here's what Cuban would do to get rich if he had to start over from scratch.
Three main paths to millionaires
When asked how to build wealth from nothing other than the knowledge he currently has, Cuban outlined several strategies.
“There are only a few opportunities like that,” he said. “If you start a hedge fund and it goes well, you can raise a lot of money. You can also take your company public, but [or] You can form a private company and be acquired. These are actually the main ways to reach that level of wealth. ”
Cuban points out that while any of these methods may make you rich, there are no guarantees.
“Can I try some or all of these things? Yeah,” he said. “If you put me in the witness protection program and no one knew me and I had to start from scratch, I would still have known what I know now, so I would have done well. I was able to go, but I had to look for a special opportunity.” To become a millionaire, you need something highly leveraged, something that will grow economically explosively. But there are a lot of people who are really, really smart and do all of those things, or one of them, very well, but we don't know who they are. ”
How to find “unique opportunities”
As Cuban points out, reaching billionaire status usually requires taking advantage of very unique opportunities. To achieve this, it is important to be a lifelong learner.
“I was the most curious person you could imagine,” he said on the podcast. “I just loved learning. I was a kid who read everything I could get my hands on about business. And if you read enough books, you'd learn something that would be useful to you. .”
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