Business mogul Mark Cuban once spontaneously bought a lifetime ticket on American Airlines during a celebration and later upgraded.
What happened: Cuban revealed on a recent podcast that he got a pass in the aftermath of selling his first business, MicroSolutions, for a whopping $6 million.
He said on the podcast that he contacted American Airlines in a celebratory mood to inquire about the lifetime pass, and as soon as he saw it was available, he bought it for $125,000.
This pass, known as the A Airpass, provides unlimited first class travel for a lifetime and was launched in the early 1980s. Price is determined by the age of the purchaser at the time of purchase.
“They say, “What are you going to do with all this money?” And I say, “I don’t care about a car or a house, but you know, I fly a lot for work.” I ride,” he said during the interview.
Also read: Here’s how Mark Cuban made 91% of his employees millionaires
“I got all the information and signed up, with a huge hangover. It started out at $125,000, but I upgraded. I forget how much I paid, but it gave me and someone else nearly unlimited money for the rest of the year. “I was given the miles of my life,” he added.
Cuban, 32, purchased the pass, which is now estimated to be worth about $300,000, adjusted for inflation.
After his father’s death, Cuban transferred his A Airpass to a friend. However, American Airlines has since phased out the unlimited pass, ending the program in March 2024.
Why it matters: Despite his lavish spending habits, Cuban advocates a frugal lifestyle, likening it to the life of a “college student” and encouraging people to save money.
The billionaire has lived in the same house and driven the same car for the past 18 years.
His impulsive purchase of passes that have increased significantly in value confirms his ability to make wise investments even when inebriated.
Read next
Mark Cuban asks his more than 8 million followers which characters they would like to see imitate Trump and Harris: Cuban received 500,000 responses, with majority backing the candidate
This content is created in part using AI tools, and reviewed and published by Benzinga editors.
Market news and data powered by Benzinga API
© 2024 Benzinga.com. Benzinga does not provide investment advice. Unauthorized reproduction is prohibited.
