Mark Cuban Is Officially Leaving Shark Tank. Here's What We Know

It's hard to imagine "Shark Tank" without billionaire Mark Cuban, but that will be the case for ABC's hit TV show after Season 16. Currently in its 15th season where businesses like Gatsby chocolate and Toast-It arepas have been showcased, Cuban wasn't always a mainstay of the cast. He first came on board in 2011 as a guest investor for the second season before becoming a regular in 2012 on Season 3 ... and he has been a cast member ever since. While the business-themed reality show doesn't have one main star, it's hard not to think of Mark Cuban as its leader. The other longtime Sharks in the current season are also veterans of the show and include Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary.

Cuban broke the news on Episode 207 of "All The Smoke." He told hosts Matt Barnes and Stephen Jackson that while "Shark Tank" has been renewed past its current season, "Next year's 16th year is going to be my last year, so I've got one more year to go." When Jackson jokingly said, "Hang your shoes up," Cuban responded by saying, "Yeah, it's time ... but I love it because it sends the message that the American dream is alive and well." As of yet, there have been no official announcements from the network regarding Cuban's departure, and it remains to be seen who his replacement will be, or if more seasons are planned for after he leaves.

Leaving Shark Tank is just the half of it

Cuban has not yet revealed why he made the decision to leave "Shark Tank," but he did drop some clues in an interview with Parade earlier this year. With his children heading to college, he noted that spending time with them would be a main factor if he ever did consider leaving — "It comes down to just being able to get family time together over the summer. That's super important to me, and it just gets harder when your kids are going in their own direction."

As if departing "Shark Tank" wasn't news enough, another Mark Cuban bombshell just dropped with the announcement that he would be selling off a majority of his ownership in the Dallas Mavericks. Cuban has owned the NBA team since 2000 and is selling off shares in a merger with Miriam Adelson for an estimated $3.5 billion. The Adelson family is known for its gambling empire, and Miriam Adelson is at its helm — she is the sixth richest woman in the world, and her net worth is over $32 billion. The partnership has the potential to be extremely lucrative for all parties and looks to make both billionaires even more wealthy. While Mark Cuban will no longer be the owner, he will still hold equity and continue to control the basketball team's operations (per The Athletic). No wonder he'll no longer have time to make or break entrepreneurs' dreams on "Shark Tank."