Mark Cuban has announced his decision to leave ABC’s “Shark Tank” after more than a decade on the popular TV show. The billionaire entrepreneur and investor told The Hollywood Reporter on Monday that he plans to depart after Season 16 ends in 2025, citing a desire to spend more time with his teenage children before they go off on their own.
Despite his decision to leave “Shark Tank,” Cuban stated, “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.” The 65-year-old has been a mainstay on the show since debuting as a “Shark” investor and startup pitch judge in 2011.
In addition to his departure from “Shark Tank,” Cuban recently agreed to sell a majority stake in the NBA’s Dallas Mavericks, which he has owned since 2000, for $3.5 billion while retaining a minority stake and control of basketball operations.
During his time on “Shark Tank,” Cuban has been involved in many memorable moments, including making the largest offer in the show’s history. He offered $30 million for the entire company behind dating app Coffee Meets Bagel, which the founders turned down. By 2018, the app was valued between $50 million and $100 million.
In another memorable moment, Cuban took a different approach when he fell in love with the idea of a cremation alternative company called Parting Stone. He shared his intention to take the idea to a competitor, Eterneva, which turns ashes into diamonds, and then invested in Parting Stone’s competitor.
Finally, Cuban had a notable reaction to a business pitch that involved marketing featuring the logo of Cuban’s NBA team. He threw the product to the ground, calling it the “dumbest marketing move ever.” The brothers who made the pitch ended up making a deal with another Shark, Barbara Corcoran, and later described the incident as part of a plan to “go viral.”
Despite his plans to leave “Shark Tank,” Cuban’s entrepreneurial spirit remains strong. Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”