When you have a ton of money, how do you raise your kids so they don’t become spoiled brats? Courtesy of Business Insider, Billionaire Mark Cuban, who may be as critical of a parent as he is in business, shared at SXSW what he and his wife Tiffany teach their three children so they grow up to be good people. Here’s what he had to say:
“I’m not the dad that comes home with a ton of presents. I am the dad that says, ‘Pick that up. Take that; put it in the sink. No, you have to earn that.’ I want them to recognize that the only thing special about themselves is what they make for themselves.”
“They have to be themselves. They can’t be Mark Cuban’s or Tiffany Cuban’s son or daughter. They have to be adults and they have to carry their own weight. I literally battled with my wife (she always wins) about public schools versus private schools. I didn’t want them to have a sense of entitlement.”
“I want them to be like themselves. My daughter is 10. She’s just your basic drama queen. And that’s a good thing. It’s not about stuff. I just don’t want it to ever be about stuff. If I treat them with respect hopefully they’ll treat their peers with respect. That’s what we pay attention to more than anything else, how they treat other people.”
During the interview, Cuban was asked about why his 10-year-old daughter doesn’t like to fly commercial. He laughed and explained how he tries to teach his kids to not care about nice things.
“She just didn’t understand it! But I know, that’s just brutal. I didn’t fly on an airplane until I was 16. They’ve been on more flights by the age of four than I had been my entire life. We try to put it in context. But they do fly commercial now…with my wife not me!”
Other than having a nanny to take care of the kids, Cuban explained how he really tries to manage the most “normal” household possible.
“No butlers. We have a nanny. Unless it’s the night of a Mavs game and Tiff and I are going to a game, then they’re out by 6 or 7 and then it’s real world. On the weekends we have someone in the morning so Tiff and I go workout Saturday mornings. Then the rest of the weekend it’s just us. It’s us putting them to bed. It’s us at dinner. We try to be as normal as possible. The whole idea of someone serving you, this and that, that’s not us.”
When you have a ton of money, being an attentive and responsible parent is really the only way you can teach your children the positive values they need to become respectful, generous and humble people. With so many successful parents involved in business without the time to really care for and teach their children, Cuban may just be one of the busy billionaires doing it right.