Mark Cuban has officially stepped away from ABC’s “Shark Tank,” ending a 15-season tenure as one of the show’s most recognizable investors.
Bye, Shark
Cuban’s final episode aired May 16, capping a run that began in 2011. During that time, the billionaire entrepreneur and owner of the Dallas Mavericks committed millions to small businesses pitched on the reality TV series.
In total, Cuban says he invested “about $33 million” in various companies during his time on the show, according to an interview with CNBC Make It. He estimates those investments have yielded up to $35 million in cash returns, and he now values his equity in those businesses at “at least $250 million.”
“I’m f—ing crushing it on the market,” Cuban told Fortune in a January interview, referring to the current market value of the businesses he’s backed.
Cuban’s on-air commitments totaled $61.9 million across more than 200 deals, according to Shark Tank Insights, a website that tracks the show. However, not all agreements made in front of the cameras result in completed deals, as negotiations and due diligence continue off-screen.
Though the returns are sizable, Cuban has long said his motivation for appearing on the show wasn’t primarily financial.
“I don’t do the show to get the best investments,” he posted on Twitter in July 2022. “And I don’t always invest because I think I’ll make money. Sometimes my deals are purely to help [an entrepreneur] or send a message.” The post has since been deleted from the platform, now known as X.
Cuban, a vegetarian since at least 2019, frequently backed plant-based and vegan food startups on the show, including businesses aligned with his personal values.
At one point, Cuban acknowledged taking a net loss “on a cash basis” from his “Shark Tank” investments, before accounting for the fair market value of his active holdings. Now, using a mark-to-market approach — which values assets based on their current market worth — he says he’s firmly in the black.
“What really gets me going is when people have an operating business where they’ve already gone for it,” Cuban said in a 2011 interview with TV Tango. “They’ve invested everything… and they just need a little bit of help.”
Cuban said he evaluates pitches based on an entrepreneur’s work ethic, intelligence, and sales ability, alongside the risk-to-reward ratio of the deal.
“If I’m investing $10,000, there’s a different risk-reward profile than if I’m investing a million dollars,” he said.
Cuban has not announced who will replace him on “Shark Tank,” or whether he plans to continue investing in startups outside of the show.
