Mark Cuban Buys Texas Town for $2 Million With Mobile Home Park, Strip Club; What Will He Do With It?

Mark Cuban, a billionaire popularly known as the owner of the Dallas Mavericks, has purchased an entire town in Texas. However, Cuban stated that his plans for the Texas town are still up in the air.

Mark Cuban's Mustang Texas Property

The investor Mark Cuban bought the land of 77 acres that make up the town of Mustang, some 55 miles south of Dallas, according to the Dallas Morning News.

The transaction of the land he bought in Mustang, Texas is described to include an abandoned strip club where a murder happened, a building for the volunteer fire department, and a trailer park. Cuban stated that he purchased the town because a friend needed to sell it.

As seen in the US Census data from 2010, Mustang had a population of 21 people. The town was estimated to have 0.12 square miles of land or 76.8 acres.

According to the report of Business Insider, in 2017, Mike Turner, a Dallas real estate broker, attempted to sell the town for $4 million. Turner spoke to The Houston Chronicle at the time and stated that "we've had a very good response about the town, some of my clients are calling me and asking about it."

However, he told the Morning News last week that the price deterred possible purchasers.

Mustang Texas

Mustang was established in the 1970s as the sole location in Navarro County where individuals could purchase alcohol.

It is still uncertain how much money Mark Cuban paid for the Texas town, Mustang, although it is public knowledge that the land went on the market in 2017 and the price was eventually reduced to $2 million.

Mike Turner added that the property Cuban bought has a resident alligator in one of the ponds. Turner added that the Texas Mustang property Cuban bought also includes a dire department inside the property.

In addition, he stated, "It's a natural for Mark with the Mavericks to have Mustang."

At the very least, the bustling I-45 stretch should be suitable for a Dallas Mavericks billboard.

Mustang is primed for expansion, according to Jerry Newsom, chief of the volunteer fire department in the neighboring hamlet of Angus.

Newsom told NBC Dallas, "We're excited to have him as our neighbor, and we're excited about the growth and potential it has."

Mustang has no present occupants, and the last two businesses, Wispers Cabaret strip club, and Lion's Den adult bookshop have been closed over several years.

Read Also: Omicron Variant in the US: COVID-19 Variant Spread Tracker, Live Updates, Vaccination Rate

Mark Cuban Net Worth

Mark Cuban is estimated net worth is $5.9 billion. In addition to Mustang, he is the major owner of the NBA team Dallas Mavericks and an investor on the TV show "Shark Tank." He also purchased a $19 million vacation home in Laguna Beach, California in 2018.

Mark Cuban and Todd Wagner, both of Indiana University, founded the video portal Broadcast.com in 1995, which they sold to Yahoo for $5.7 billion in 1999. He now controls the NBA's Dallas Mavericks, as well as Magnolia Pictures, AXS TV, and a slew of other smaller companies.

To help pay for his education at Indiana University, he sold stamps door-to-door and provided disco classes. Cuban was inspired to establish his own business after being fired from a software company for closing a $15,000 transaction instead of cleaning up the store.

He invests in mission-driven companies such as Luminaid, which provides emergency lighting, and Mahmee, a maternal healthcare tech company.

 

Related Article: Child Tax Credit Payments December 2021: Will Government Shutdown Affect Sending of Money?

© 2022 iTech Post All rights reserved. Do not reproduce without permission.

More from iTechPost