[[_Economy and Economics MOC]] An American billionaire currently worth approximately 6 billion. He created #MicroSolutions in the early 80s,. sold it to CompuServe in 1990 for $6 million, earning $2 million after taxes. He then co-founded AudioNet, which later became Broadcast.com, which provide audio streaming over the web. Sold to Yahoo for 5.7 billion in stock. Bought a majority share in the Dallas Mavericks in 2000, sold his majority stake in late 2023 for 3.5 billion, but retained a minority share. He has other investments and created the _Mark Cuban Cost Plus Drug Company_ in 2020 which provides generic medications at transparent prices at a modest markup. He actually seems like s fairly decent guy. # On luck becoming a billionaire. He has said that "Every billionaire has gotten lucky."[^1]. In that article he argues that exploitation won't get you rich these days. I think that's rather naive on his part, just look at what Trump has done throughout his 'career' # On wealth and income inequality Cuban has spoken out forcefully that something has to be done about wealth and income inequality, otherwise there will inevitably lead to social unrest. > He believes in “democratic capitalism” – that all companies should encourage employees to have some form of ownership and that companies should hire minorities. “Capitalism must help all people. Growing inequality will cause social unrest due to disparity,” he warned.[^2] Some of this material comes from a [ChatGPT session](https://chatgpt.com/share/67e6df40-fd5c-8003-b5bd-de8408ba07d9) # Tags #IncomeInequality #WealthInequality #Oligarch #Oligarchy # Footnotes [^1]: https://finance.yahoo.com/news/mark-cuban-says-every-billionaire-144516797.html?utm_source=chatgpt.com&guccounter=1 which discusses a thread on the #Threads app. See https://www.threads.net/@mcuban/post/DCXuO4Cun_Y?hl=en [^2]: [The Inside Story From Two Billionaire Entrepreneurs](https://libertythroughwealth.com/2019/05/24/two-creative-billionaires-building-wealth/?utm_source=chatgpt.com)