Mark Cuban advises NBA players not to invest in ‘rap, restaurants and liquor’

Mark Cuban has become some sort of guru for investors in the past decade, as he’s well known for his time judging new business opportunities in the popular show called Shark Tank. The billionaire, who is also part-owner of the Mavericks, appeared on the Club Shay Shay podcast to share new advice for millionaire athletes. 

According to the famous entrepreneur, NBA players need more help on managing their wealth, as we’ve witnessed so many former athletes who lost their fortune due to poor investments and waste. Mark didn’t mince his words when talking about these poor decision, along with wiser ways to increase their wealth.

His counselling was directed to high-earning players or other entrepreneurs who are looking for the best ways to shield their money while generating passive income. According to Cuban, the best strategy sometimes simply means steering off certain industries.

'Don't Invest In Rap, Restaurant And Liquor Companies,' Says Mark Cuban. Here's His Advice To NBA Players And Other Millionaire Athletes https://t.co/guthDQloso

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The former Dallas owner was very explicit when naming the industries that might seem trendy, but end up being risky ventures. Some of them include restaurants, clothing lines, liquor companies and even rap labels.

“You hear about people losing it all, so I tell guys all the time, ‘Save your money.’ You know, one broken ankle and it’s over,” shared Mark, who’s reasoning is based on these markets having high failure rates, unreliable returns and even feelings getting in the way.

Mark advised for seeking reliable passive income, even going as far as recommending Dividen Kings, which is a stocks company with more than 50 years of increasing payouts. He’s convinced that they mean stability and growth, passive income, and long-term security.

The billionaire made headlines a month ago, when he said the NBA ‘got really petty’ since they don’t let him sit behind the bench anymore, considering he’s not the main owner of the Mavericks since last year.

The NBA’s policy now forbids individuals without specific roles inside the teams to sit behind the bench, which now means that Cuban will have to watch the matches from a different part of the arena, despite the fact that he greets players on the court before tipoff.