4 ms·

The big thing that got him most of his wealth was creating an internet radio website - broadcast.com. He got lucky he sold it right before the dotcom bubble cra

• jonathanlb 5y ago
  It wasn't just that. Cuban also had 14.6 million Yahoo shares at $95 valued at $1.4 billion. He had put options at an $85 strike price, so when Yahoo cratered to $13 during the crash, he made bank.
  • Kranar 5y ago
    To clarify, he didn't make bank off of Yahoo crashing, he just locked in the value of his shares at $85. It's not like he profited from Yahoo crashing, it's more that after buying the puts he guaranteed a worst case outcome if Yahoo crashed. If Yahoo didn't crash and just stayed at $95, he'd still have made the same amount of money. If Yahoo went up in value by a significant amount, he'd have actually been better off (he'd have lost value on his options but regained all of it and then some on the value of his stock).
  • exdsq 5y ago
    Yahoo, the company that had just acquired his broadcast.com startup ha!