Despite their wealth, the stars of Shark Tank reveal that they still budget and avoid splurging on certain luxury items.
For instance, Mark Cuban, owner of the Dallas Mavericks, shared that he refuses to spend on watches.
After selling his first company at 29, Cuban set aside the only watch he owned, a gift from his father, and decided never to wear one again, saying, “I never have to work on anybody else’s time.”
Guest shark Rashaun Williams shares a similar view.
He only purchased one luxury watch in his life, a Jacob & Co. timepiece during his time at Goldman Sachs.
The $25,000 purchase lost its value when the watchmaker, Jacob Arabo, was arrested two years later.
Other Shark Tank stars also avoid flashy expenditures.
Kevin O’Leary stays away from yachts, noting, “you can see the money burning off them,” while Lori Greiner refuses to buy a Lamborghini, citing its potential for quick ruin.
Guest shark Todd Graves, CEO of Raising Cane’s Chicken Fingers, avoids flying private for international trips, preferring regular planes to save money.
Even jewelry designer Kendra Scott admits to being a bargain hunter, saying she never misses Labor Day or Memorial Day sales.
Having started her business with only $500, Scott remembers the financial struggles and aims to stay grounded.
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