Apparently, several billion dollars is not enough. Mark Cuban has been charged with insider trading, as he (allegedly) used insider information to sell some shares of Mamma.com and save a whopping $750,000. Now for me, $750k is actually a lot of money. For Mark Cuban, however, $750k is a mere drop in the bucket. As of 2007, Cuban is #133 on Forbes’ “World’s Richest People” list, with a net worth of $2.8 billion.
Think about it this way: the amount Cuban saved was about three basis points of his net worth, or 0.03%. Like the Martha Stewart case when she unloaded a bunch of ImClone shares to save a (relatively) marginal amount of money, Cuban is going to end up dealing with an immense amount of negative publicity and stress (even if he is not guilty).
Which begs the question why, why, why do people with this amount of money contemplate doing illegal things to save a teenie bit of money? There is always the thrill of doing something you’re not supposed to do and not getting caught. But I’m guessing in Cuban’s case it was more a matter of thinking he was above the law. Welp, only time will tell how the situation plays out but I’m guessing he’s going to wish he would’ve just taken a loss on Mamma.com. The thought of spending a couple of months in jail is just not attractive.
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