After over a decade on “Shark Tank,” Mark Cuban is hanging up his hat as one of the show’s most iconic investors. The billionaire and entrepreneur is set to leave the show after Season 16 ends in 2025, as revealed in an interview with The Hollywood Reporter.
Cuban, 65, expressed that his decision to leave the TV show is rooted in his desire to spend more time with his family, specifically with his teens before they head off into the world. “I just want to have a couple summers with my teens before they go off on their own,” said Cuban. “Nothing to do with the show. I love it. I love being on it. I love what [it] represents and how it motivates entrepreneurs around the world.”
His departure from “Shark Tank” isn’t the only major shake-up in Cuban’s career. He recently agreed to sell a majority stake in the NBA’s Dallas Mavericks, which he has owned since 2000, for an eye-watering $3.5 billion. Despite reducing his stake in the team, Cuban will retain a minority stake and control over the basketball operations. CNBC confirmed the news about the Mavericks deal on Tuesday.
Throughout his 12 years on “Shark Tank,” Cuban has been part of numerous memorable moments, from striking deals with up-and-coming entrepreneurs to offering some of the highest investments in the show’s history. Here are a few of the most notable instances in recent years:
1. The largest offer in ‘Shark Tank’ history: Cuban made headlines when he offered the Kang sisters, creators of the dating app Coffee Meets Bagel, a $30 million buyout — the largest in the show’s history at the time. The sisters turned down the offer, and the company’s valuation soared to between $50 million and $100 million by 2018.
2. ‘I like the idea so much, I’m going to take it’: Cuban expressed his keen interest in the business concept presented by Parting Stone, a cremation alternative company. Impressed with the idea, Cuban revealed that he was investing in a similar startup and liked the idea of adding polished stones to its product line.
3. ‘Dumbest marketing move ever’: Cuban did not hold back in expressing his disdain during a pitch for a car air freshener company when it was revealed that the product was branded with the logo of the Golden State Warriors, one of the Mavericks’ rival teams. The embarrassing moment ultimately led to a deal between the entrepreneurs and fellow Shark Barbara Corcoran.
With Cuban’s departure from “Shark Tank” imminent, fans of the show are undoubtedly curious to see who will fill the void left by the illustrious entrepreneur. As one of the show’s most high-profile and influential investors, Cuban’s departure is sure to mark the end of an era for “Shark Tank.”