Mark Cuban: I'm not running for president

No chance Hillary can win: Mark Cuban

Billionaire Mark Cuban said Monday he is not going to run for president, despite earlier telling CNBC that he would crush Donald Trump and Hillary Clinton if he entered the race.

"I think I can have a bigger impact right now in doing a lot of the other things I'm doing," he said in an interview with CNBC's "Closing Bell."

"I'm invested in over 100 small businesses, and I go and talk to school kids. There are so many ways I think I can impact society. I just don't have the temperament, at least not at this point, to be a politician."

Cuban's comments followed an email exchange with CNBC in which he weighed in on the presidential race and the idea of a billionaire president.

When asked whether he'd make a bid for the White House, Cuban wrote, "I get asked every day. It's a fun idea to toss around. If I ran as a Dem, I know I could beat Hillary Clinton. And if it was me vs. Trump, I would crush him. No doubt about it."

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Cuban, chairman of AXS TV and owner of the Dallas Mavericks of the National Basketball Association, told "Closing Bell" that Clinton has "kind of blown it" and there is no chance that she'll win the election.

Mark Cuban
Melody Hahm | CNBC

However, his comments about crushing Trump was less about the candidate and more about the Republican Party, he said.

"The Republican Party really requires all their candidates to conform on all the social issues, and I think that's just so out of touch with what's happening in America today," Cuban said.

Because of that, whoever the other candidate is would crush the Republican contender because there shouldn't be a one-party line in this day and age, he said.

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In fact, Cuban said he gives Trump a lot of credit for changing the game.

"Up until now you had to be a perfect candidate," he said. "I think Donald changed that. He made it OK to be an imperfect candidate, and I think that's a good thing."

Trump is also not following the traditional campaign route of hiring political consultants and pollsters, and that has actually caused him to spend less money than the other candidates, he pointed out.

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And Cuban thinks that success will likely encourage other non-traditional candidates to enter the race.

"I think we will see other candidates that are business people, that understand social media, understand traditional media but can watch and see what Donald has done and realize you don't have to spend $100 million, you don't have to spend $500 million or more," he said.

As for throwing his weight behind a particular candidate, Cuban said it's too soon. Not only will more candidates start throwing their hats in the ring, the issues haven't been delved into yet. Once that happens, there will be a better understanding of who will make a good president, he said.

—CNBC's Eamon Javers contributed to this report.