Why Mark Cuban doesn't own yachts or hire house cleaners: ‘I try to be the same person I was when I was poor'

Mark Cuban is a self-made billionaire who believes in frugality and living a simple lifestyle, despite his wealth.

Why Mark Cuban doesn't own yachts or hire house cleaners: ‘I try to be the same person I was when I was poor'

Mark Cuban, a billionaire, has a strict budget for luxury items, including yachts, butlers, and housecleaning services.

Cuban, 65: "I try to be the person I was when I had been poor, middle-class and rich."

Tell them to get on with it

The Really Good Podcast will be broadcast on Thursday. "The idea of getting a yacht is not something I would do."

Cuban is a serial entrepreneur, startup investor and has a Net Worth of

$5 billion

Forbes reports. He is not against big-ticket items: In 1999, he spent $40 million for a Gulfstream V private jet and $13 million to build a mansion in Dallas.

After becoming a billionaire, you'll be able to enjoy your wealth.

He was elected to the Senate in 2009.

The NBA's Dallas Mavericks was purchased

For $285 million.

Cuban's refusal to pay for certain services has less to do with frugality than it does about his desire to live a private, quiet life. He noted that his family does most of their chores themselves, such as washing clothes and preparing meals.

Cuban stated, "I enjoy the privacy." I've seen people hire someone to do all their work for them. That's like no privacy.

Cuban also didn't need to make any new friends when he entered a new tax bracket. He said: "Most my friends are guys I moved to Dallas to school with, or friends from Indiana." We still tell stupid stories and do stupid things ---,, and that's okay.

Cuban said on CBS Sunday Morning in January that he had worked hard to prevent his wealth from changing the way he was.

He'd be happy to accept 1% of his wealth

Later, in the interview a group Cuban's childhood friend confirmed it.

Jerry Katz, a friend, said, "Little fuller, but not by much," "But he's still the same person."

According to the majority of people, the more wealthy you are, the worse your behavior is.

Paul Piff

Associate Professor of Psychology at the University of California in Irvine.

Piff stated in 2013 that as a person's wealth increases, their feelings are less compassionate and empathic, while their sense of entitlement and deservingness, along with their self-interest, increase.

TED Talk


Piff said that small reality checks will help you to get back on track. "Small nudges can restore equality and empathy."

Cuban owns now three houses and calls a few of his private planes his "best toys," as he stated on the podcast. The podcast said that buying a private plane was "my all-time dream" because time is the asset he values most.

Tell Money

In 2017,

Cuban said he still wants to be the same person that he used to be when he "broke" on the podcast.

Cuban said, "I had a great time when I was broke." "I loved my own life... "I was still having fun."

Disclosure: CNBC is the exclusive cable network that owns "Shark Tank," a show in which Mark Cuban appears as a panelist.

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