According to Mark Cuban, he will be departing from “Shark Tank” after the upcoming season.
Mark Cuban, who is the owner of the Dallas Mavericks and an entrepreneur, announced that he intends to depart from “Shark Tank” after finishing one additional season of the program.
Starting in 2011, Cuban has been a regular investor, also known as a “shark,” on ABC’s show “Shark Tank.” On the show, he listens to pitches from entrepreneurs and considers investing in their businesses.
Cuban announced on the “All The Smoke” podcast, hosted by Stephen Jackson and Matt Barnes, that he will be retiring after next year, which will mark his 16th year in the industry. This year marks the 15th anniversary of his career.
On Tuesday, the Dallas Morning News reported that Cuban will retain complete authority in managing the team’s basketball operations as part of the agreement. It is not certain if this decision influenced his departure from “Shark Tank.”
While appearing on the show, Cuban mentioned that he has provided funding for numerous businesses, such as BeatBox Beverages and DudeWipes, both of which he claims are achieving success.
The 65-year-old billionaire expressed his admiration for how the show assists ordinary individuals in launching their entrepreneurial pursuits, motivating viewers, and reinforcing the belief that the “American dream” is still attainable.
Over the years, participating in ‘Shark Tank’ has allowed us to educate and mentor numerous entrepreneurs from different generations. It has shown that anyone, regardless of their location, can pitch their business and secure a deal on the show. This success story has the potential to motivate and encourage future generations of children, don’t you think?” Cuban expressed during the podcast.
The business owner stated that his investments on “Shark Tank” have generally been profitable. Nevertheless, he mentioned that they are currently experiencing a slight decline in cash flow, but a significant increase in their mark-to-market value, which reflects the current fair value of the company.
Cuban celebrities appeared on the show “Shark Tank” with Robert Herjavec, Kevin O’Leary, Barbara Corcoran, Daymond John, and Lori Greiner.
Simrin Singh
Source: cbsnews.com