I wrote an article on Jerry Jones, the Dallas Cowboys owner, a few days ago.
Jones is the richest person in Dallas and has been very charitable with his wealth and giving back to organizations in Dallas. Today I wanted to write about another billionaire Dallas sports team owner and what he is doing to help others.
Let's take a quick look at the owner of the Dallas Mavericks, Mark Cuban.
The Dallas Mavericks owner
Mark Cuban is the third richest person in Dallas, with a net worth of $4.7 billion.
Cuban initially founded Broadcast.com, a video portal, in 1995 so he could watch his alma mater Indiana Hoosiers basketball play while he lived in Dallas.
Cuban sold the business to Yahoo for $5.7 billion in 1999 and now owns the NBA franchise, the Dallas Mavericks, and also has stakes in Magnolia Pictures, AXS TV, and many small startups. He has a focus on mission-driven companies that can assist others. This includes Luminaid, which provides lighting to disaster areas, and Mahmee, a maternal healthcare tech company.
He has also appeared as a judge on the popular ABC show "Shark Tank" for 11 seasons and invested more than $22 million during that time.
In 2003, Cuban founded the Fallen Patriot Fund "to help families of service men and women, first responders who were killed or seriously injured in the line of duty." It has awarded over $5 Million in grants, "with every dollar helping the families of those who serve and protect our country."
The same year he also started the Dallas-based Mark Cuban Foundation. The Foundation focuses on education, veterans, public health, and more. In 2019, Cuban founded the AI Bootcamps Initiative, which hosts free camps teaching AI to students. This year, more than 550 students will participate.
A few of the major donations made by Cuban include:
- In 2015, he gave $250,000 to the Special Olympics and $25,000 to the Austin Street Shelter, a homeless shelter in Dallas
- Cuban donated $1 million to the Dallas Police Department in 2016
- $10 million to organizations that promote women in leadership roles and combat domestic violence in 2018
- In 2020, when COVID hit, he donated $100,000 to the National Association of Black Journalists' COVID-19 Relief Fund and, together with Dallas Mavericks star Luka Doncic gave $1.25 million to the Dallas Disaster Relief Fund. He also posted on LinkedIn, offering to help small businesses struggling during the pandemic.
- $1 million in 2020 to help launch a new pre-K program at KIPP Texas-Dallas-Fort Worth
- He regularly supports Autism Speaks, the Elton John AIDS Foundation, and Cedars-Sinai Medical Centers.
Earlier this year, he set up the Mark Cuban Cost Plus Drug Company to dramatically reduce the cost of prescription drugs in the US.
Readers, what do you think of Mark Cuban's commitment to charity? What other organizations in Dallas would you like to see him support?
Please leave your comments below.