Many of us can only dream about achieving wealthy status. Not having to worry about money and living however you want when you want sounds incredible. However, this only applies to a small group of Americans.
According to the UBS Global Wealth Report 2024, as of 2023, the U.S. was home to the highest number of millionaires, nearly 22 million people (representing 38% of the world’s millionaires). However, the U.S. Census Bureau estimates that the current U.S. population is about 341.5 million people. So, only about 6.4% of Americans are millionaires.
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There are some wealthy individuals who have gone on to become billionaires. While this may seem even more impossible than reaching millionaire status, one notorious individual who has truly proven that becoming a billionaire is possible with luck and hard work is Mark Cuban.
The Shark Tank star, part owner of the Dallas Mavericks and billionaire entrepreneur has a real-time net worth of $5.7 billion, according to Forbes. As one of America’s most successful business people, Cuban knows how to make money and get ahead.
Here’s what you can learn from Cuban, based on a recent interview with People.
Cuban is no stranger to hard work. Through his persistence and due diligence, he has become one of the most successful and wealthiest entrepreneurs in the country.
“Everybody’s got the will to be successful … but the most important part is the work you do to prepare to be successful,” Cuban said.
He described that success is mostly the result of hard work, which is what everyone should understand if they want to get ahead. On the other hand, he also explained that part of success is luck.
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Cuban remarked that “life is half random.” He described that the way he got to be a billionaire was also about timing and luck in addition to his hard work.
Cuban, who was born in 1958 and founded Broadcast.com, an internet audio and video streaming service, explained that timing was everything when it came to his initial success.
“I was born at the right time so that when the internet technology really took off and we were able to start Audionet, which turned into Broadcast.com, which went public and I could turn around and sell for 5.7 billion dollars in stock,” Cuban explained.
He had no control over the evolution of the internet but says that the timing of when he got into the business and when the Internet really took off made all the difference. However, he also notes that it’s what you do with the luck that counts.
