In a move that would seem unthinkable in the 1990s, billionaire Mark Cuban purchased a Gulfstream G5 jet worth $40 million entirely online. Fresh off the sale of his pioneering streaming company, Broadcast.com, to Yahoo! for $5.
7 billion in stock, Cuban cemented his place in e-commerce history. He made what is considered the "largest single e-commerce transaction" at that time. In a recent conversation on the Club Shay Shay podcast , Cuban shared with Shannon Sharpe that after the sale, he simply "bought a jet.
..online" to save time and gain mobility for his burgeoning business ventures.
According to Cuban, as a frequent traveller, a private jet was a practical investment, saving him what he deemed his most valuable asset—time. "Time is the one thing you can't own more of," he told Sharpe. Having a jet, he explained, made it easier for him to take quick flights without enduring the hassle of commercial travel.
Describing his purchase process, Cuban explained that he'd contacted Gulfstream via email, specifying his requirements and requesting a test flight. "I was always the internet guy," he said. After the test flight sealed his interest, Cuban requested the price and paperwork, then wired the full amount online.
"I did the whole thing online," he said, reflecting on how unconventional the transaction was for the time. The Broadcast.com sale was transformative not only for Cuban but also for his employees.
After the Yahoo! acquisition, Cuban ensured his team was handsomely.