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Mark Cuban Announces Exit from 'Shark Tank' after 16 Seasons
Dallas Mavericks owner and entrepreneur Mark Cuban has disclosed his plans to depart from the popular reality show "Shark Tank" after filming one more season.
Having been a permanent investor, or "shark," on the ABC show since 2011, Cuban has played a key role in hearing pitches from small business owners seeking investments.
Cuban revealed this decision on Showtime Basketball's "All The Smoke" podcast, hosted by former NBA players Stephen Jackson and Matt Barnes.
"This is our 15th year. Next year, the 16th year, is going to be my last year," said the 65-year-old billionaire, emphasizing that it's time for a change.
Simultaneously, Cuban is in the process of selling a majority stake in the Dallas Mavericks to casino magnate Miriam Adelson.
The reported terms of the deal specify that Cuban would retain full control of the team's basketball operations.
It remains unclear if this move influenced his choice to exit "Shark Tank.
Throughout his tenure on the show, Cuban has invested in numerous companies, including successful ventures like BeatBox Beverages and DudeWipes.
He expressed his love for the show's ability to empower regular people to kickstart their businesses and inspire viewers, reinforcing the notion that the "American dream is alive and well."
Cuban highlighted the impact of "Shark Tank" on generations of entrepreneurs, emphasizing that the show has trained aspiring business minds.
Reflecting on his investments, he noted their overall success,
even though there is a temporary dip on a cash basis,
but a substantial increase on a mark-to-market basis, measuring the current fair value of a company.
Mark Cuban has been part of the "Shark Tank" lineup alongside fellow sharks Robert Herjavec, Kevin O'Leary, Barbara Corcoran, Daymond John, and Lori Greiner, contributing to the show's popularity and legacy.