4.6 • 12 Ratings
🗓️ 14 November 2024
⏱️ 3 minutes
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The Shark Tank billionaire has drawn scrutiny in recent days for owning a $13.5 million condo in the Trump International Tower in New York.
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0:00.0 | Here's your Forbes Daily Briefing bonus story of the week. Today on Forbes, Mark Cuban's properties |
0:07.4 | in Trump International Tower are worth more than Trump's. Billionaire investor and Shark Tank star Mark Cuban |
0:14.9 | drew scrutiny in recent days following reports about his ownership of a 3,700 square foot condo |
0:20.7 | in the Trump International Tower, |
0:22.9 | which is located at one Central Park West on Manhattan's Upper West Side. |
0:27.4 | During the presidential election, Cuban was a prominent backer of Vice President Kamala Harris, |
0:32.6 | appearing at multiple rallies for the Democratic candidate in battleground states. |
0:36.8 | On November 4th, the day before the election, |
0:39.2 | the New York Post ran the headline, quote, Mark Cuban may not agree with Trump's politics, |
0:44.0 | but he has no problem with him as the landlord of his $13.5 million condo. Trump, who owns a small |
0:51.2 | chunk of the building, isn't actually Cuban's landlord. In fact, Cuban owns multiple |
0:56.4 | properties in the Trump International Hotel and Tower, which are now worth more than Trump's |
1:00.7 | own real estate portfolio in the building. Cuban spent $13.8 million on his first condo in 2000, |
1:07.8 | some 15 years before Trump announced he was running for president in the 2016 election. |
1:13.2 | Cuban then bought another 2,110 square foot unit on the same floor for $3.3 million |
1:18.5 | the next year. Publicly available property records confirm he still owns both apartments, |
1:24.2 | which are worth a combined $13 million today per Forbes estimates. |
1:28.8 | Cuban told Forbes in an email that he, quote, looked at selling his two condos, quote, |
1:34.0 | but the price has dropped significantly over the last eight years. |
1:38.2 | Trump, meanwhile, owns a 460 square foot unit in the eponymous building that he and other |
1:43.4 | investors redeveloped in the 1990s. |
1:46.5 | Trump's is worth around $660,000, a fraction of the price of Cubans. |
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