News
Mark Cuban’s Advice for Business Owners: “Give Employees Stock”
In an interview with LinkedIn’s Daniel Roth, Mark Cuban (of “Shark Tank” and owner of the NBA’s Dallas Mavericks) told the story of the sale of Broadcast.com, stating:
When we sold Broadcast.com to Yahoo, 20 years ago give or take, out of 330 employees, 300 became millionaires. And those [other] 30 weren’t only because they started too late. But they got paid as well.
This is a familiar story for many of us in the world of employee ownership, as the most successful ESOP companies often have employees retiring with 6-figure (and even 7-figure) ESOP account balances. As further explained in this NCEO synopsis of the interview, Mr. Cuban has been a supporter of employee ownership for many decades.
About The Author
Tim is President & Managing Partner of DeWitt. He is also a partner in the Greater Milwaukee office specializing in Employee Stock Ownership Plans (ESOPs) and Employee Benefits. He can be reached at 262-754-2869.
View Author InfoRecent News
Disclaimer
One of the best features about our website articles and blog entries is that they are timely—you get up-to-date information on the law as it exists at the time. The downside is that the law changes, but our older entries don't. That means we can't guarantee you are getting the most current law when reading through past entries. Please don't take these articles and blog entries and rely on them as legal advice. Give us a call instead, for specific and pointed advice for your particular situation. Note that contacting us does not create an attorney-client relationship, unless you are accepted as a client of the firm.