Entrepreneurs

Here's the first thing Mark Cuban bought when he finally had $1,000 in the bank

Marc Cuban
Gabriel Grams | CNBC
Marc Cuban

Today, billionaire Mark Cuban splurges on things like his own private plane. But back when he was young, money was tight, and his splurges were far less extravagant.

At 24, he was living with five friends in Dallas in a three-bedroom apartment. The rent was $600, which they split six ways.

"This wasn't a really nice place we all kicked in to move up for," Cuban writes on his blog. "This place has since been torn down. Probably condemned. I didn't have my own bedroom. I slept on the couch or floor depending on what time I got home. I had no closet. Instead I had a pile that everyone knew was mine."

It had two bathrooms, but Cuban only brought two towels to the apartment, which "were frayed and scanty," according to the Dallas News.

"I had these old ratty towels that had holes in them and could stand on their own in the corner, they were so nasty, I needed a shower from drying off after a shower," he writes.

His car had a hole in the floorboard, and Cuban had a job as a bartender at a club to make ends meet. He and his friends drank $12 bottles of champagne.

"Each of us would grab one, and sip on it all night," he says. "It was far cheaper than buying beers or mixed drinks all night, and we never had to buy a drink for a girl, we just gave them some champagne! Of course the next day was hell, but since when was I responsible enough to care about a hangover."

But once Cuban landed a job selling software at a store called Your Business Software, he started making some money.

"I was earning consulting fees. I was getting referrals. I was on the phone cold-calling companies to get new business," he writes. "I even worked out a deal with a local consultant who paid me referral fees, which led to getting a $1,500 check.

"It was the first time in my adult life that I was able to have more than $1,000 in the bank," says Cuban.

So what did he do with that money? At the time, Cuban only had eyes for one luxury — and it wasn't fancier champagne. Cuban wanted new towels.

"I went out and bought six of the fluffiest, plushest towels I could find," he says.

"I was moving on up in the world. I had the towels. Life was good."

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