The ABC reality series, Shark Tank, featuring entrepreneurs pitching business ideas to investors, faces major changes in its 16th season. Kind Snacks founder Daniel Lubetzky, who was a frequent guest, will join as a full-time investor. Mark Cuban, part of the show since 2011, has decided to call it quits. ABC announced these developments on September 19, 2024, marking a shift for the Emmy-winning program that began in 2009.
Lubetzky's promotion to regular Shark status is the first such change since Lori Greiner became a permanent cast member in Season 4 (2012-2013). The 16th season, set to premiere on October 18, 2024, at 8 p.m. ET, will showcase this new investor lineup as entrepreneurs continue to seek funding and mentorship from the panel of business experts.
Trending
Daniel Lubetzky becomes a permanent investor on Shark Tank Season 16.
Daniel Lubetzky's elevation to full-time Shark status brings a new dynamic to the show's panel of investors. Lubetzky founded Kind Snacks in 2004, building it into a major player in the health food industry before selling to Mars in a deal worth $5 billion in 2020. According to Forbes, his net worth stands at $2.3 billion as of September 2024.
Lubetzky's journey with Shark Tank began as a guest Shark, a role he held for five seasons. During his guest appearances, he made several notable investments, including stakes in Yellow Leaf Hammocks, snack company Quevos, boogie board creator Tandm Inc., and HummViewer, a wearable hummingbird feeder.
Mark Cuban's final season
A chapter of Shark Tank history is about to conclude with Mark Cuban's upcoming exit. Cuban, who joined the panel in 2011, announced in November 2023 that Season 16 would be his last. His tenure on Shark Tank has been notable, as he was the first billionaire investor to join the show's panel.
Cuban's reasons for leaving include a desire to focus more on his family and his latest venture, Cost Plus Drugs. This company, launched in January 2022, aims to lower prescription drug prices, reflecting Cuban's interest in healthcare accessibility.
As of September 2024, Cuban's net worth is estimated at $5.7 billion, ranking him as the 555th richest person globally according to Forbes.
Other sharks and guest appearances
The core panel of Shark Tank investors will remain largely intact for Season 16. Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary are among the returning regular Sharks. This stability in the main cast helps maintain continuity for viewers and entrepreneurs alike.
ABC has also announced a roster of guest Sharks for Season 16, bringing fresh perspectives and expertise to the Tank.
Todd Graves, the founder of Raising Cane's chicken finger eateries, will be making appearances. Jamie Kern Lima, co-founder of It Cosmetics, will bring her experience in the beauty industry to the panel. Venture capitalist Rashaun Williams and jewelry designer Kendra Scott round out the list of guest Sharks, each offering unique insights from their respective fields.
Shark Tank's 16th season is scheduled to premiere on Friday, October 18, 2024. The show will retain its prime time slot, airing at 8 p.m. ET on ABC. For viewers who prefer streaming, episodes will be available on Hulu the day after their initial broadcast, maintaining the show's accessibility across multiple platforms.
Reply
