Benzinga - Billionaire investor and owner of the Dallas Mavericks, Mark Cuban, has built a career creating and investing in many profitable companies. But, he also enjoys spending his billions, and a sports team and private jet aren't his only notable possessions. He has a passion for cars as well.
Even though he drives a $1.5 million Mercedes-Benz and owns an S600 Pullman Guard limousine today, during an interview with Bill Maher on the Club Random Podcast, Cuban shared how he once got a car for free.
He said that one of his first cars, a 1977 Fiat X1/9 with holes in the floorboards, died in 1982 after moving from Indiana to Dallas.
One day, while hanging out with friends, Cuban found an abandoned car on the side of the road. With the help of his friends, he pulled the car and found it was unlocked. He noticed an envelope full of loan papers on the front seat.
"I knew from my personal experience that someone had abandoned the car because they couldn't make the payment," CNBC quoted Cuban saying on the podcast.
Also Read: Mark Cuban Celebrates Closing $5.7B Deal With Middle Seat Flight To Vegas: 'This Is Just Perfect'
Cuban said that the next day, he called the bank officials and told them he found a car they were looking for and offered to take over the payments, and they agreed.
"You can't rely on finding a working abandoned car and acquiring it legally, and it's harder now to call up a bank and actually speak to a real person," Cuban added.
Cuban wanted to get rich and retire by age 35. By the time he was 32, he had sold a company for $6 million, pocketing around $2 million in profit, but realized that he preferred working and being engaged in business.
"I was determined to be able to retire," Cuban said. "I valued time more than anything. I wanted enough money to be able to travel, have fun, and party like a rock star, but still live like a student. That was my motivation."
Despite massive wealth, Cuban said he's worked hard to maintain his down-to-earth perspective and ensure that his wealth hasn't changed him.
"I bought a plane ... because the asset I value the most is time, and that bought me time," Cuban added. "Other than that, I've lived in the same house for 18 years and still have the same cars."
Now Read: Mark Cuban Sold His Company For $6M At 32 But Didn't Stop: Why The 64-Year-Old Billionaire Is Still Working Today
Photo: Gage Skidmore on flickr and Shutterstock
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.