Warren Buffett Sent Mark Cuban A Thank-You Note For What Became An Incredibly Successful PR Stunt
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Back in 2002, the Dallas Mavericks owner said he wouldn't hire Ed Rush, the head of NBA officials, to even manage a Dairy Queen.
At the time, lots of people, including Dairy Queen employees, were a bit offended.
And so one Dairy Queen franchisee called Cuban and challenged him to manage a Dairy Queen.
Cuban did it, and then he got a thank-you note from one very famous Dairy Queen fan: Warren Buffett.
Dairy Queen is owned by Buffett's Berkshire Hathaway. And, according to the New York Post, Buffett is so fond of the chain that he once tried to order a Dairy Queen Blizzard while dining at the Four Seasons.
On this week's "Master in Business" podcast, Cuban told Barry Ritholtz that managing a Dairy Queen after his comments was probably the best PR stunt he's ever done.
Cuban said on the day he managed a Dairy Queen, an idea pitched to him by Dairy Queen franchisee Parrish Chapman, there was a line outside the restaurant at 6:30 in the morning.
And Cuban said it was Chapman who turned the event into what Cuban called a "circus" that benefitted his business and served as positive PR for Cuban.
Since Cuban bought the Dallas Mavericks in 2000, fines levied against him by the NBA have totaled nearly $2 million, according to Sports Illustrated. Each time Cuban is fined by the NBA, he matches that amount with a charitable donation.
Cuban's full discussion with Ritholtz is wide ranging and a must-listen for anybody interested in the billionaire entrepreneur.
You can download the complete conversation here.
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