From Yahoo Finance: 2025-06-07 04:03:00

Mark Cuban’s path to wealth has been questioned by some on Reddit, who accuse him of scamming people. Cuban’s initial riches did not come from “Shark Tank” or owning the Dallas Mavericks; his big payday came in 1999 when Yahoo acquired his internet radio startup, Broadcast.com, for $5.7 billion. Despite the startup going out of business in three years, Cuban already made his money, viewing it as one of the worst internet acquisitions during the dot-com bubble. Cuban knew his startup was overpriced and used options to hedge his position in Yahoo stock, selling for a profit. Yahoo executives had ample time to conduct due diligence before acquiring Broadcast.com. Yahoo also missed opportunities to acquire Google, making it hard to call Cuban a scammer when deals were offered after due diligence was done.



Read more at Yahoo Finance: Did Mark Cuban Get Rich by ‘Scamming’ Other Billionaires?