Mark Cuban’s Final Season on Shark Tank: Reflections and Future Plans

Mark Cuban, who joined “Shark Tank” as a guest investor in its second season before becoming a full-time member in the third, is set to begin his final season when it premieres on October 18. Cuban, 66, shared his reflections and emotions as he embarked on his last season during an exclusive interview with PEOPLE.

Discussing the forthcoming 16th season of the business reality show, Cuban expressed feeling bittersweet about leaving. “It’s going to be more about the crew and the staff because most of them have been here for 15 years and it’s family,” he explained. “We all look forward to getting together twice a year for a long time and seeing each other for 12 hours a day,” he added, highlighting the show’s collaborative environment.

While nostalgic about the camaraderie he will miss, Cuban stated, “I won’t miss the deals.” He emphasized the show’s impact and the overarching message of the American Dream it has promoted. “The deals are always out there, but I’ll miss the people and I’ll miss having an impact just from the show itself,” he said.

In November 2023, Cuban announced his decision to leave “Shark Tank” after its 16th season on the “All the Smoke” podcast with hosts Matt Barnes and Stephen Jackson. “This is our 15th year, and next year, our 16th year, is gonna be my last year so I got one more year to go,” Cuban stated, explaining his belief that “it’s time” to move on.

Cuban’s departure comes with a personal goal of focusing more on his family. “My kids are teenagers and I want to spend more time with them,” he told PEOPLE. He is particularly looking forward to more vacations with his children after his tenure on the show ends.

He explained the challenges of balancing show commitments with family time, especially as his children grow older. “We always shoot in June and September, and in June, right when they’re finishing school, I have to come here,” he elaborated. “When they were young it was like, ‘Okay, we’re going to wait for Dad.’ Now that they’re teenagers, they aren’t waiting for Dad at all, and in September they’ve just gotten back to school. I want to be there for that.”

The 16th season of “Shark Tank” premieres on Friday, October 18, at 8 p.m. ET on ABC.