When serial entrepreneur and investor Mark Cuban became a millionaire, he had a simple goal: Don’t spend all his newfound riches at once.
Upon selling his software company MicroSolutions for $6 million in 1990, Cuban — who took home roughly $2 million, after taxes — quickly called a broker, he told social media personality Jules Terpak in a video interview released Monday.
“I want you to invest for me like a 60-year-old. I don’t want you to invest like I’m young, because I want to live off this for a long time,” Cuban, now 66, recalled telling the broker.
Cuban, the son of an automobile upholsterer near Pittsburgh, didn’t grow up rich. He also knew wealth could be fleeting — he nearly went broke at age 27, after starting MicroSolutions — and dedicated himself to living more like a frugal student, he said.
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Early in his career, that …