{"id":7895,"date":"2023-08-05T16:19:06","date_gmt":"2023-08-05T16:19:06","guid":{"rendered":"https:\/\/isafespend.com\/news\/why-mark-cuban-doesnt-own-yachts-or-hire-house-cleaners-i-try-to-be-the-same-person-i-was-when-i-was-poor\/"},"modified":"2023-08-05T16:19:07","modified_gmt":"2023-08-05T16:19:07","slug":"why-mark-cuban-doesnt-own-yachts-or-hire-house-cleaners-i-try-to-be-the-same-person-i-was-when-i-was-poor","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=7895","title":{"rendered":"Why Mark Cuban doesn’t own yachts or hire house cleaners: ‘I try to be the same person I was when I was poor’"},"content":{"rendered":"
\n

When it comes to luxury spending, billionaire Mark Cuban draws the line at yachts, butlers and house cleaning services.<\/p>\n

“I just try to be the same person, I mean, as I was when I was poor, middle and rich,” Cuban, 65, told “The Really Good Podcast” on Thursday. “The whole idea of like, get a yacht … it’s just not what I would do.”<\/p>\n

Cuban, a serial entrepreneur and startup investor, has a net worth of $5.1 billion, according to Forbes. He’s not opposed to big-ticket purchases: He spent $13 million on a 24,000-square-foot Dallas mansion and $40 million for a private Gulfstream V business jet in 1999, shortly after becoming a billionaire. The following year, he bought the NBA’s Dallas Mavericks for $285 million.<\/p>\n

Rather, Cuban’s decision to not pay for certain services is less about frugality and more about his desire for a private life. His family usually does their own chores, like washing clothes and cooking meals, he noted.<\/p>\n

“I like the privacy,” Cuban said. “I’ve been around people who hire somebody to do everything for them, and that’s just, like, no privacy.”<\/p>\n

Similarly, Cuban didn’t feel the need to make new friends upon entering a new tax bracket, he said: “Most of my friends are guys that I moved to Dallas with or friends in Indiana from school. We still tell the same stupid ass stories and do the same stupid s—, and you know, that’s good.”<\/p>\n

In January, Cuban told CBS’s “Sunday Morning”\u00a0that he’d worked hard to keep his wealth from changing his personality, and that he’d be just as happy with 1% of his net worth. Later in the interview, a group of Cuban’s childhood friends confirmed it.<\/p>\n

“Little more full of it, but not that much more full of it,” Jerry Katz, one of those friends, said. “But still the same guy.”<\/p>\n

That isn’t the case for most people: Typically, the wealthier you feel, the worse you behave, according to Paul Piff, an associate professor of psychological science at the University of California, Irvine.<\/p>\n

“As a person’s levels of wealth increase, their feelings of compassion and empathy go down, and their feelings of entitlement, of deservingness and their ideology of self-interest increases,” Piff said in a 2013 TED Talk.<\/p>\n

When that happens, small reality checks can help you get back on track, Piff added: “Small nudges in certain directions can restore levels of egalitarianism and empathy.”<\/p>\n

Cuban now owns three houses, and refers to a couple of his private jets as his “best toys,” he said on the podcast. Buying a private jet “was my all-time goal, because the asset I value the most is time, and that bought me time,” he\u00a0told Money\u00a0in 2017.<\/p>\n

Still, Cuban wants to remain the same person he was when he was “broke,” he said on the podcast.<\/p>\n

“When I was broke, I had a blast,” said Cuban. “I loved my life … I was still having fun.”<\/p>\n

Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank,” which features Mark Cuban as a panelist.<\/em><\/p>\n

DON’T MISS: Want to be smarter and more successful with your money, work & life?\u00a0<\/strong><\/em>Sign up for our new newsletter!<\/strong><\/em><\/p>\n

Get CNBC’s free\u00a0<\/em>Warren Buffett Guide to Investing, which distills the billionaire’s No. 1 best piece of advice for regular investors, do’s and don’ts, and three key investing principles into a clear and simple guidebook.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

When it comes to luxury spending, billionaire Mark Cuban draws the line at yachts, butlers and house cleaning services. “I just try to be the same person, I mean, as I was when I was poor, middle and rich,” Cuban, 65, told “The Really Good Podcast” on Thursday. “The whole idea of like, get a<\/p>\n","protected":false},"author":1,"featured_media":7896,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":{"0":"post-7895","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nWhy Mark Cuban doesn't own yachts or hire house cleaners: 'I try to be the same person I was when I was poor' | iSafeSpend<\/title>\n<meta name=\"description\" content=\"When it comes to luxury spending, billionaire Mark Cuban draws the line at yachts, butlers and house cleaning services."I just try to be the same person,\" \/>\n<meta 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