Mark Cuban has gotten filthy rich for his ability to see the future. He became a billionaire by selling broadcast.com, a website that allowed users to listen to local radio broadcasts from all over the country, to Yahoo for over ten figures.
He’s padded his net worth the past two decades by making intelligent decisions on companies he wanted to invest in. He’s picked many winning businesses, but his strategy in the future has shifted. The Shark Tank star said he’s investing almost exclusively in cryptocurrency companies in the future.
Here’s what he told Jon Stewart on “The Problem With Jon Stewart” podcast.
“The investments I’m making now are not in traditional businesses. In fact, 80% of the investments that I make that are not on ‘Shark Tank’ are in or around cryptocurrencies.”
Cuban is especially interested in DAO’s, decentralized autonomous organizations. A DAO, according to a story in CNBC, is “a blockchain-based collective that isn’t governed by one person or entity. Its members must vote on any changes to the DAO’s rules or governance. To gain these voting rights, as well as other powers within the organization, investors typically hold the DAO’s governing tokens.”
According to Cuban, he predicts a “game-changing” business will arise from a DOA. Industries to watch closely are banking and insurance.
Cuban has a robust crypto portfolio of different points, NFT’s and other investments in blockchain companies.
Will Cuban keep putting money into some dopey idea on Shark Tank that catches his eye thanks to a creative pitch? Sure, but his heart will be on finding his next crypto winner.