Mr. Cuban, a longtime investor of “Shark Tank,” said he made the buy because a friend needed to sell the land.
“I don’t know what, if anything, I will do with it,” Mr. Cuban told The Dallas Morning News.
Mustang sits about an hour from Dallas, and was home to 23 people, according to the latest census data.
The report said Mustang consists of a strip club and a trailer park.
In 2010, it was the least populous town in Texas.