Billionaire entrepreneur Mark Cuban has announced his departure from the popular ABC show “Shark Tank” after over 10 years. He revealed on the “All The Smoke” podcast that the next season will be his last, stating, “it’s time”.
Cuban joined “Shark Tank” as a guest during season two and became a regular on the show in season three. During his tenure, he has invested at least $29 million in at least 85 companies whose founders appeared on the show.
Cuban mentioned that although he is slightly down on a cash basis, the value of many of his investments is still doing well. His departure from the show has not been confirmed by ABC.
Cuban’s decision to leave the show comes as he continues to be the owner of the Dallas Mavericks and the co-founder of Cost Plus Drugs among other business ventures.
Season 16 of “Shark Tank” will be his last, and the network has not confirmed his pending departure. Cuban expressed his love for the show, stating that it sends the message that the American Dream is alive and well.
He also mentioned that he has invested in hundreds of companies and, on a mark-to-market basis, is way up despite being slightly down on a cash basis.
The show, now in its fifteenth season, gives up-and-coming entrepreneurs a chance to pitch their businesses and products to five “Sharks,” accomplished entrepreneurs who can then make investments in the businesses or turn them down.
Cuban’s departure from “Shark Tank” is expected to take place after the filming of the next season, making Season 16 his last year on the show.
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