Mark Cuban has all the money he could ever need—the 54-year-old multi-billionaire is a successful businessman, author, television personality, film producer, and investor. He also owns the Dallas Mavericks, his own film distribution company (Magnolia Pictures), and a chain of cinemas (Landmark Theatres), not to mention a regular spot as an investor on the TV series Shark Tank.
However, his stacks of money also fuel his biggest fear—that his three young kids will grow up to be, in his words, “entitled jerks.” In a recent interview with WFAA Sports, Cuban opened up about how his deep pockets and extravagant billionaire lifestyle will reflect on his children. Although Cuban’s two youngest kids are still too young to really understand the value of money, his eldest is 11 and is starting to now realize what it really means to be rich, something her father is trying to get a handle on from now. “She knows she won’t be [rich],” said Cuban. “She knows she’s going to have to earn it herself.”
Even still, Cuban says he’s terrified of spoiling them too much because, well, he can afford to. In an effort to counteract the luxuries that they’ll inadvertently become accustomed to, Cuban says he tries to teach them about having a more ordinary outlook on life: “I push them to value learning, to be excited about learning. I push them to be inquisitive about the world and understand what’s going on.”
Cuban also touched on rich parents who resort to using money to get buy their way through their kids’ problems, something he says he’ll never do. Instead, he plans on teaching all three of his kids how to stand on their own two feet so that they’re capable of paving their own path and fixing their own problems.
Haaf, L., et al., “Mark Cuban: Kids and wealth is the ‘scariest thing in my life,’” WFAA web site, August 19, 2015; http://goo.gl/jDyDlV.