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3 Ways Mark Cuban and Other Millionaires and Billionaires Protect Their Wealth

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Considering that he's worth an estimated $5.7 billion, entrepreneur and investor Mark Cuban probably doesn't have a lot of money worries. But even when Cuban was "only" a millionaire, he
The article from MSN Money discusses three key strategies that millionaires and billionaires like Mark Cuban use to protect and grow their wealth. Firstly, diversification is highlighted as crucial; these individuals spread their investments across various asset classes to mitigate risk. Mark Cuban, for instance, has investments in technology, sports, and media. Secondly, tax optimization is another method; they employ sophisticated tax strategies, including setting up trusts, investing in tax-advantaged accounts, and taking advantage of tax laws to minimize their tax liabilities. Lastly, asset protection through legal structures like LLCs or family limited partnerships helps shield their wealth from potential lawsuits or creditors. These strategies not only safeguard their fortunes but also ensure that their wealth can be passed down efficiently to future generations.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/economy/3-ways-mark-cuban-and-other-millionaires-and-billionaires-protect-their-wealth/ar-AA1x7FbC ]