Ultrashort cationic lipopeptides (USCLs) are amphiphiles that exhibit antimicrobial and anticancer activity. They are composed of an aliphatic chain attached to a positively charged peptide group consisting of a few amino acid residues. Here, we report the activity of a series of l‐2,4‐diaminobutyric acid (Dab)‐rich USCLs with varying N‐acyl chain length and charge against Escherichia coli, Staphylococcus aureus, Candida albicans, colon, breast, and lung epithelial cancer cell lines. USCLs with chain lengths of 14–18 carbons showed significant antimicrobial activity with C16‐conjugated peptides being the most active against E. coli and S. aureus, and C18‐conjugated peptides being the most active against C. albicans. Doubly charged USCLs with aliphatic tails that are 14 carbon atoms and longer showed more potent anticancer activity compared to their triply charged counterparts. C14‐Dab2‐NH2 displayed little toxicity to normal cells, and selectivity to microbial and cancer cells over normal cells. Its structural simplicity, bioactivity, nontoxicity, and selectivity make it a promising therapeutic agent.