Billionaire investor Mark Cuban has shared his interest in acquiring both Rupert Murdoch’s Fox News and Elon Musk’s X (formerly Twitter), though he admits he lacks the necessary funds for such purchases.
Cuban, known for his role on the reality show Shark Tank and his extensive business ventures, discussed his thoughts on the matter during a recent interview with Wired.
Cuban, whose net worth stands at $5.7 billion according to Forbes, estimated that turning around Fox News would require an investment of between $15 billion and $20 billion.
“You’ve got to pay at least 50 percent premium… So now it’s $22 billion. And then you’ve got to make all the changes, so that’s another $2 billion,” Cuban explained.
While Cuban has significant wealth, he noted that he doesn’t have the billions in cash needed to make the purchase feasible.
In the interview, Cuban also spoke candidly about his generation, which he refers to as the “Fox News generation.” He lamented how many baby boomers, once defined by a rebellious spirit, have shifted towards a more conservative mindset, particularly in their consumption of media like Fox News.
“It’s so upsetting to me. You have no idea,” he remarked.
In addition to Fox News, Cuban touched on his hypothetical interest in purchasing X, but acknowledged that Musk has “no reason” to sell the platform. The two billionaires have previously clashed, with Cuban criticizing X’s algorithm, which he believes favors right-leaning content since Musk’s acquisition of the platform in 2022. Musk responded to Cuban’s comments by pointing out that X’s algorithm is open-source, suggesting that users like Cuban interact with more conservative content because of their own activity on the platform.
Despite their disagreements, Cuban has acknowledged Musk’s influence, describing him as “the most influential man in the world” due to his control over X and its vast user base.
Cuban, 66, recently sold his majority stake in the Dallas Mavericks and announced his departure from Shark Tank after 16 seasons. While his interest in media acquisitions has captured attention, he remains focused on other ventures, particularly his pharmaceutical startup, Mark Cuban Cost Plus Drugs, which aims to lower drug prices by eliminating middlemen in the industry.
With input from Fortune, Benzinga, and Independent.
