Billionaire entrepreneur and investor Mark Cuban told CNBC Make It that he has no plans to retire soon. Cuban, who owns the NBA's Dallas Mavericks, says he will keep working until he 'drops'. While he acknowledges a desire to spend more time with his family, Cuban plans to shift his focus to running his direct-to-consumer online pharmacy, Cost Plus Drugs.
These days, the 66-year-old billionaire entrepreneur and investor says he has no imminent plans to stop working. "I'm just getting started," Cuban tells CNBC Make It."There's no retirement in my book. I'll go until I drop."in the NBA's Dallas Mavericks. He's acknowledged that he'd like to spend more time with his family, but that doesn't mean he's retiring, he says.
The company's simple business model — reducing consumer costs by manufacturing drugs, or buying them wholesale, and selling them at a 15% upcharge — is profitable, but Cuban says he's more focused on the company's mission than maximizing the return on his investments. Self-made millionaire's advice to help a couple rein in their spending after racking up $65,000 in credit card debt: ‘It's not about whack-a-mole', which stands for"financial independence, retire early." The idea is to embrace a frugal lifestyle and maximize your savings to retire sooner.
Broadcast.com made Cuban a billionaire when Yahoo acquired it for $5.7 billion in stock in 1999. His current net worth is roughly $5.7 billion,"Every entrepreneur the back of their mind says, 'I want to be that entrepreneur that disrupts an industry and changes it,'" Cuban told Grant."What's better than that?"Cuban's desire to work more is hardly unusual: More Americans are now working past age 75 than ever.— up from 5% in 2002.
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