DALLAS Mavericks owner and billionaire Mark Cuban is one of the fortunate few who knows what it’s like to go from rags to riches.
And while he might go a bit berserk on the sideline from time to time, the entrepreneur and “Shark Tank” investor is shrewd when it comes to his money. After all, he did sell his Internet business to Yahoo! for a cool $5.7 billion in stock to buy that NBA team.
So if you happen to win Wednesday night’s massive $1.4 billion Powerball jackpot, Cuban has provided a few helpful hints — a to-do list of sorts — and how to tell Uncle Dave and Aunt Sally, “No!
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Mark Cuban on why he doesn’t buy Powerball tickets: “Not even worth the time. So what if I win?”
— Tim MacMahon (@espn_macmahon) January 13, 2016
Here are Cuban’s free tips, via the Dallas Morning News (whose servers briefly broke after the story was published to an overwhelming online response:
* Hire a tax attorney first.
* Don’t take the lump sum. You don’t want to blow it all in one spot.
* If you weren’t happy yesterday, you won’t be happy tomorrow. It’s money. It’s not happiness.
* If you were happy yesterday, you’re going to be a lot happier tomorrow. It’s money. Life gets easier when you don’t have to worry about the bills.
* Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need. Feel free to help SOME, but talk to your accountant before you do anything and remember this, no one needs 1 million dollar for anything. No one needs 100k for anything. Anyone who asks is not your friend.
* You don’t become a smart investor when you win the lottery. Don’t make investments. You can put it in the bank and live comfortably. Forever. You will sleep a lot better knowing you won’t lose money.
