Mark Cuban Turns Employees Into Millionaires With $5.7 Billion Company Sale

Photo: Instagram/Mark Cuban

When Mark Cuban sells a company, he makes sure to reward his employees. Recently, Cuban revealed that 91% of his employees became millionaires when he sold Broadcast.com to Yahoo for $5.7 billion in 1999.

Cuban has a habit of sharing the wealth. In a social media post on platform X, he shared that he gives bonuses to every employee who has been with the company for more than a year whenever he sells a business. This practice started with his first company, MicroSolutions, which he sold in 1990 for $6 million. Cuban gave 20% of that sale price to his 80 employees.

He continued this tradition when selling HDNet in 2019 and his majority stake in the Dallas Mavericks last year. Only HDNet saw layoffs after its sale.

Photo: Instagram/Mark Cuban

Cuban’s journey started with his first big success, MicroSolutions, despite a major setback when his secretary stole $82,000 from the company. He recovered, sold the company, and became a millionaire.

In 1995, he invested in AudioNet, which became Broadcast.com. Despite skepticism, Cuban turned it into a massive success and sold it to Yahoo, receiving valuable Yahoo stock. Instead of holding onto the stock, he cashed out, avoiding losses when the dot-com bubble burst.

Last year, Cuban sold a majority stake in the Mavericks for an estimated $3.5 billion but kept 27% ownership and control of basketball operations. Cuban originally bought the Mavericks in 2000 for $285 million without negotiating the price.

Mark Cuban’s current net worth is $5.4 billion, according to Forbes.

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Source: CNBC