Mark Cuban Purchased An Whole City In Texas

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Billionaires have loads of cash to throw at pet initiatives. This 12 months, we watched massive spenders Jeff Bezos, Elon Musk and Richard Branson launch rockets into house. Actually, 2021 turned considerably of a wealthy man’s house race between these billionaires.

Nevertheless, fellow billionaire and proprietor of the NBA’s Dallas Mavericks Mark Cuban determined to maintain his ft (and funds) firmly on the bottom along with his newest buy. Cuban simply purchased a complete city in Texas.

Mustang, Texas, initially went up on the market again in 2017 for $four million. That truly sounds cheap for a an entire city, doesn’t it?

AP Picture/LM Otero

Shopping for a city would possibly sound like a web page lifted from the script of “Schitt’s Creek,” however Cuban’s cause for getting the small city was easy: a buddy wanted to promote it.

The city’s earlier principal proprietor, Marty Value, was a basketball fan with ground seats for the Mavericks. Value needed to promote Mustang after he fell sick, and he died in August. Cuban instructed NBC Information he purchased the city to assist out Value.

What does somebody do along with his personal city? Cuban instructed the Dallas Morning Information he’s undecided simply but.

“I don’t know what, if something, I’ll do with it,” he instructed the paper.

In line with CNN, Cuban’s newest funding isn’t precisely a significant metropolis. Mustang covers about 77 acres of property in Navarro County.

AP Picture/LM Otero

There are some conflicting stories in regards to the present inhabitants of Mustang. The U.S. Census web site reported that nobody formally lived within the city of the 2020 decennial census. However in accordance with quite a few media stories, together with Fox Enterprise Information, about 20 folks reside in a trailer park within the place declared “the smallest city in Texas” again in 2010, based mostly on census knowledge from the earlier decade.

Mustang sits a bit of greater than 45 miles south of Dallas and was recognized for being the one city in an in any other case dry county the place alcohol was allowed when it was based within the 1970s.

Entrepreneur reported Mustang has an deserted strip membership the place a person was murdered in 2018, and there’s a “resident alligator” within the city pond.

AP Picture/LM Otero

The unique itemizing value again in 2017 was $four million, however the value Cuban paid hasn’t been launched to the general public as but. Mike Turner, president of the Dallas actual property agency J. Elmer Turner, confirmed the sale to Cuban however didn’t disclose the ultimate value to NBC Information, saying solely it bought “for much less the unique asking value.”

“Mark Cuban stepped up, and it was a pure for him to purchase it,” Turner instructed NBC Information. “Along with his sources and creativeness, I’m certain there are limitless prospects.”

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