‘Shark Tank’ Mark Cuban Ensures His Kids Are Independently Wealthy
Shark Tank star Mark Cuban is a billionaire. His reported net worth is $5.7 billion. The 66-year-old recently opened up about how he chooses to raise his kids Alexis, 21, Alyssa, 18, and Jake, 15. Cuban stated that he makes sure that the kids are financially literate and know how to budget their money. He explained that over the years he and his wife Tiffany Stewart have changed how they ensure the kids know what they need to in order to become wealthy independent of him.
Mark Cuban Opens Up About How He Raises His Kid
Mark Cuban shares how he ensures that his kids are able to provide for themselves financially as they transition into adulthood. He said that an important step in this process is “Having them go through all the steps of opening up a bank account, and having their own debit cards.” Mark continued to explain “My wife and I make sure we have a handle on all the apps they use. Financial literacy is different today than it was. Everything is on your phone.” Cuban is a great example to his children for financial literacy.
Mark Cuban has explained to his children that with the changes in the world, they need to keep up to date with how they spend money and how they pay for things. He teaches his kids the importance of maintaining a budget. He said that this doesn’t always work for the kids. They don’t always get to buy what they want but he is a sucker for a basketball or t-shirt.
Mark Cuban Does Not Want His Kids To Follow Him
Cuban has expressed that he does not wish for his children to follow in his footsteps. He wants them to focus on doing well in school and being independent when they are on their own. Mark said…
“We want them to find their own path. We know it gets old to them being known as my son or daughter. So, if they want to set their own path, that’s amazing. If they want to work on my businesses, that would be amazing too. Selfishly, the more time I can spend with them the happier I am.”
When asked if Cuban would invest in one of his children’s businesses he said “They would truly have to be prepared and prove to me that they know what they are doing.” Mark said he would go “Shark Tank” on them if need be. He just wants his children to be realistic about what is required to run a successful business.
What do you think of Marks lessons for his kids? Let us know in the comments! To watch Mark Cuban’s final season of Shark Tank, check out the streaming service Hulu.
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