Mark Cuban says he's leaving "Shark Tank" after one more season
Dallas Mavericks owner and entrepreneur Mark Cuban revealed he is planning to leave "Shark Tank" after filming one more season of the show.
Since 2011, Cuban has appeared on ABC's "Shark Tank" as a permanent investor, or "shark," hearing pitches from small business owners to invest in their companies.
"This is our 15th year. Next year, 16th year, is going to be my last year," Cuban said last week on Showtime Basketball's "All The Smoke" podcast, hosted by former NBA players Stephen Jackson and Matt Barnes. "So one more year to go. It's time."
This comes as Cuban is also in the process of selling a majority stake in the Mavericks to casino magnate Miriam Adelson, according to a report in The Dallas Morning News Tuesday. Under the terms of the deal, Cuban would still maintain full control of the team's basketball operations. It's unclear if that move played any role in his decision to depart "Shark Tank."
During his time on the show, Cuban said he has invested in hundreds of companies, including BeatBox Beverages and DudeWipes — two companies he said are performing well.
The 65-year-old billionaire said he loves that the show is able to help regular people kickstart their business ventures, inspire viewers and remind its audience that the "American dream is alive and well."
"In doing 'Shark Tank' all these years, we've trained a generation of entrepreneurs, multiple generations of entrepreneurs, that if somebody can come from Iowa or Sacramento or wherever, and show up on the carpet on 'Shark Tank,' and show their business and get a deal, that's going to inspire generations of kids, right?" Cuban said on the podcast.
The entrepreneur said his "Shark Tank" investments have, for the most part, been successful. However, he said they are currently "down a little bit" on a cash basis, but "way up" on a mark-to-market basis, which measures the current fair value of a company.
Cuban stars on "Shark Tank" alongside Robert Herjavec, Kevin O'Leary, Barbara Corcoran, Daymond John and Lori Greiner.