Mark Cuban explains why buying a 'brutally expensive' private plane was one of his smartest moves

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With a net worth topping $3 billion, Mark Cuban has money to spend.

Cuban became a billionaire in 1999 when he sold his second company,, to Yahoo for $5.9 billion. Since then, the business magnate has made several pricey purchases, including buying the NBA franchise the Dallas Mavericks a year later.

However, in a new column for Men's Fitness, Cuban said that the smartest thing he ever spent money on was a private plane.

"It's obviously brutally expensive, but time is the one asset we simply don't own," he wrote. "It saves me hours and hours."

Cuban purchased his first jet — a Gulfstream V— in 1999 for $40 million. Since then, he's added two more to his fleet: a Boeing 767 that he rents out and a Boeing 757, which he uses for the Mavs.

The "Shark Tank" star goes on to say that the most important things in life are family, time, being nice, and avoiding stress, while "trying to have more than the next guy" just isn't worth it.

Though a private jet might seem like a demonstration of opulence, to Cuban it's not about showing off his wealth — it's about effectively using his time so he can attend to what matters.

"It means I have more hours in my day to spend with friends and family," he explained to the Wall Street Journal in 2010. "It means I can get more work done. It means I can travel comfortably with my family. It's a life- and game-changer."

Mark Cuban's best business quotes:

Mark Cuban business quotes
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Mark Cuban business quotes

#1: "I still work hard to know my business. I'm continuously looking for ways to improve all my companies, and I'm always selling. Always."

Credit: Getty

#2: "When you've got 10,000 people trying to do the same thing, why would you want to be number 10,001?"

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#3: "Because if you're prepared and you know what it takes, it's not a risk. You just have to figure out how to get there. There is always a way to get there."

Credit: Getty

#4: "Go out there and get rich. Get so obnoxiously rich that when that tax bill comes, your first thought will be to choke on how big a check you have to write."

Credit: Getty

#5: "​In the past, people used to tell me to shut up a bit. But what I believe is to put out your opinion and let everyone else react. If I'm wrong, I'm wrong."

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#6: "I've learned that it doesn't matter how many times you failed. You only have to be right once. I tried to sell powdered milk. I was an idiot lots of times, and I learned from them all."

Credit: Getty

#7: "Work like there is someone working 24 hours a day to take it all away from you."

Credit: Getty

#8: "Forget about finding your passion. Instead, focus on finding big problems."

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#9: "It's not about money or connections -- it's the willingness to outwork and outlearn everyone when it comes to your business. And if it fails, you learn from what happened and do a better job next time."

Credit: Getty

#10: "What I've learned is that if you really want to be successful at something, you'll find that you put the time in. You won't just ask somebody if it's a good idea, you'll go figure out if it's a good idea."

Credit: Getty


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