Billionaire entrepreneur Mark Cuban has bought an entire 77-acre town in Texas, according to a report by The Dallas Morning News.
A company controlled by Cuban last month bought Mustang, a roadside hamlet in Navarro County, about 55 miles south of Dallas, the Morning News reported, citing county deeds records.
The publication reported that Cuban said he had bought the town because a friend needed to sell it.
“I don’t know what if anything I will do with it,” Cuban said in an email, per The Morning News.
Mustang had a population of 21 in 2010, per US Census data. The Census recorded the town as having 0.12 square miles of land, equivalent to 76.8 acres.
Mike Turner, a Dallas real-estate broker, tried to sell the town for $4 million back in 2017.
“We’ve had a very good response about the town,” he told The Houston Chronicle at the time. “Some of my clients are calling me and asking about it.”
But he told the Morning News this week that that potential buyers were put off by the price.
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“I had a fair amount of interest in it, but it was priced too high — even when we brought it down to $2 million,” Turner told the publication. It’s unclear what Cuban paid for Mustang and who he bought it from.
Turner said that the town included a building owned by the Mustang Volunteer Fire Department, a pond with an alligator, and an old strip club that he said was “not in good repair.”
Cuban has a fortune of around $5.9 billion, according to Bloomberg’s Billionaire Index. He is an investor on the TV series “Shark Tank”, and the majority owner of NBA team Dallas Mavericks. In addition to Mustang, he also purchased a $19 million vacation home in Laguna Beach, California in 2018.
