Mark Cuban: "I'll continue working until I physically can't anymore—retirement isn't an option for me."

At age 35, Mark Cuban aimed to retire.

According to CNBC Make It, the 66-year-old billionaire entrepreneur and investor, Mark Cuban, has no plans to retire anytime soon. He says, "I'm just getting started," and plans to continue working until he physically can't anymore.

Recent career decisions made by Cuban, such as leaving "Shark Tank" and selling his stake in the Dallas Mavericks, have sparked speculation about his retirement. However, Cuban clarifies that he wants to spend more time with his family, but that doesn't mean he's retiring.

Cuban plans to focus more of his time on running his online pharmacy, Cost Plus Drugs, and will continue to work on it for a long time.

In 2018, Cuban initially invested $250,000 in Cost Plus Drugs after being cold-pitched by its founder and CEO, Alex Oshmyansky. Over the next two years, Cuban continued to invest until he eventually owned the company.

Although the company's straightforward business strategy of producing drugs, purchasing them at wholesale, and selling them at a 15% markup is profitable, Cuban emphasizes that his primary focus is on the company's mission rather than maximizing his investment returns.

"Ideally, after everything has been said and done, they'll say, 'That guy messed up healthcare, so now people aren't scared of not being able to afford their medications,' which to me would be the greatest achievement."

Retiring, then un-retiring, in his 30s

At 25, Cuban was fully dedicated to the FIRE philosophy, which involves living frugally and saving aggressively to achieve financial independence and an early retirement.

When Cuban began working, his primary objective was to retire by age 35, as he emphasized on "Shark Tank" in 2021. He began saving and investing large portions of his income after reading the 1988 book "Cashing in on the American Dream: How to Retire at 35" by Paul Terhost, as he revealed to CNN Money in 2017.

In 1990, Cuban sold his first company, a software startup called MicroSolutions, to CompuServe for $6 million. After the sale, he retired and spent the next few years traveling the world and partying like a rock star.

In 2022, Cuban admitted on Adam Grant's "Re:Thinking" podcast that he had returned to work at Broadcast.com, alongside his friend Todd Wagner, five years after retiring. He realized that he was "too competitive" to retire early and missed the excitement of a promising investment.

In 1999, Yahoo acquired Broadcast.com for $5.7 billion in stock, making Cuban a billionaire. His current net worth is estimated to be around $5.7 billion, and he has stated that his wealth allows him to prioritize his competitive spirit over money.

"Entrepreneurs dream of disrupting an industry and changing it, according to Cuban, who said, 'What's better than that?'"

More Americans are working longer — including some of the rich

More Americans are now working past age 75 than ever, which is not unusual for Cubans.

In 2022, 8% of Americans aged 75 and above were employed, compared to 5% in 2002. According to a projection by the Labor Department, by 2032, one in ten seniors over 75 will continue to work.

Some Americans are experiencing longer life spans, which may be impacting their attitudes towards retirement and savings. While some individuals may be rethinking their retirement plans or realizing their savings are inadequate, others find joy in their work and have no intention of retiring.

Bill Gates, the billionaire Microsoft co-founder and philanthropist, stated in an interview with Make It earlier this month that the idea of working less than full-time "sounds awful."

Gates expressed his aspiration to emulate his friend Warren Buffett, who is currently the chairman and CEO of Berkshire Hathaway at the age of 94 and has no plans to retire.

"Gates, 68, stated that his friend Warren Buffett still visits the office six days a week. He hopes to maintain this routine as he ages."

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