Shark Tank Season 16 will mark the final moments for the businessman and investor Mark Cuban as one of the permanent sharks. Mark Cuban has been a part of this business reality TV show since season 2. After giving almost 13 years to the show and investing in more than 100 deals, Mark Cuban announced in 2023 that he would not continue his journey after season 16.
With his departure announcement, Daniel Lubetzky's placement as a permanent judge brought some relief to the fans. However, Mark has been content with his long journey and its outcomes as a shark in the show. He has been vocal about his reasons for parting ways from the show.
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Fans have been anticipating the announcement since, and as the news around suggests, Mark wanted to spare more time for his kids and family, leading to his departure from the show. During the interview with Kelly and Mark on Live with Kelly and Mark on October 15, 2024, he revealed that he loved doing Shark Tank, but as his kids were growing, he wanted to be around.
Mark Cuban explained to the hosts:
"It's a really hard decision. I love the show. I love the message it sends. But we shoot in June and September which is right when my kids get out of school and right when they go back to school, and I was missing it all these years, and now that they're teenagers and 21, this is like my last shot."
Shark Tank investor Mark Cuban opened up about his new venture
After Mark Cuban's announcement of his departure from Shark Tank after season 16, speculations clouded as fans wanted to know why he was leaving the show after serving as a shark for 13 years. Now, the reasons are out and clear. As aforementioned, Mark wanted to give more time to his kids and family.
Mark Cuban married his now-wife, Tiffany Stewart, in 2002. The couple has three children: Alexie, Alyssa, and Jake. Mark wants to focus on being a father and his new pharmacy company, Cost Plus Drugs. In January 2022, he took the initiative to make generic medicine affordable for the common people in the U.S.; hence, he built the Mark Cuban Cost Plus Drug Company.
During Live with Kelly and Mark, he mentioned that he does not plan to retire soon but wants to work on his new venture. He said:
"I'm just getting started you know um I've got a company called costplusdrugs.com and literally we're changing the cost of medications in this country."
The Shark Tank investor owns the NBA's Dallas Mavericks and sold a 58% share of it in December 2023. He also owns Magnolia Pictures, a film distributor and production company. According to Celebrity Net Worth, he is worth $5.5 billion, making him the richest Shark Tank investor.
With Mark Cuban leaving the show after season 16, fans would miss the business mogul for his advice and guidance.
The ABC's Shark Tank season 16 premiered on October 18 and airs on Fridays at 8 pm ET.
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