Christopher Willard/ABC/Getty Mark Cuban's final episode as aShark Tankpanelist airs on May 16 The businessman joined the show as a guest in season 2 before being promoted to full-time In November 2023, the Mavericks co-owner announced he was stepping away fromShark Tankafter season 16 After over a decade of pitches, investments and deals,Mark Cubanis saying goodbye toShark Tank. The billionaire first joined the business reality show as a guest in season 2 before becoming a full-time Shark one year later. During a November 2023 appearance on theAll the Smokepodcast, he announced he would be leaving the show after season 16. "This is our 15th year, and next year, our 16th year, is gonnabe my last year," Cuban said. "So I got one more year to go ... It's time." During a conversation with PEOPLE on May 9, Cuban opened up about filming the final episode, saying that while he felt "some closure and readiness to move on," he also had "a lot of sadness" about leaving the people involved in making the reality series. "Our crew from Sharks to PAs to producers are incredible to work with and to know," he said. "That's who I will miss more than anything." So, why is Mark Cuban leavingShark Tank? Here's everything to know about the billionaire's exit from the reality show. Christopher Willard/ABC/Getty During his May 2025 conversation with PEOPLE, Cuban opened up about his decision to leaveShark Tank, explaining that he wanted to "spend more time" withhis kids— Alexis, Alyssa and Jake — who are now teenagers and young adults. "We always shoot in June and September, and in June, right when they're finishing school, I have to come here," he said. "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 entrepreneur said he had "no second thoughts at all" about his decision to leave, emphasizing that it wasn't about the show, but rather the time investment. "Shooting the show is easy and fun. I actually love the shooting part of it," Cuban said. "But it's a lot of time, and even more time to work with all the companies I invest in ... For those entrepreneurs, it's their entire lives." He continued, "Once a deal closes, I have to do what we can to give them a chance to make their American Dream come true. That's a huge commitment intellectually, time wise and emotionally. I was ready to commit that time to my family and Cost Plus Drugs," referencing his affordable pharmaceutical company. Christopher Willard/ABC/Getty OnShark Tank, Cuban has invested in 85 companies as of November 2024, with his largest investment being Ten Thirty One Productions at $2 million, perNasdaq. According to the outlet, Tower Paddle Boards, Nut's 'N More, Prep Expert and The Bottom Line are among his most successful investments. As for how much money he's made, theDallas Mavericks co-owneradmitted during his appearance onAll the Smokethat his investments were making a net loss. "On a cash basis, I'm down a little bit, but on a mark-to-market basis, meaning the companies are still in operation, I'm way up," he said. Christopher Willard/ABC/Getty Following Cuban's exit fromShark Tank, executive director Clay Newbill toldThe New York Timesthat there will be no direct replacement. "Personally, I don't think that you can replace Mark Cuban," he said. "He's a force on the show." However, guest star Daniel Lubetzky, who founded the Kind snack company, was recently promoted to a permanent seat on the panel ahead of Cuban's exit. Mark Cuban/Instagram FromShark TanktoDancing with the Stars, Cuban has been on several competition series over the years. Now, it's likely that his exit from the investing show marks the end of his reality television era altogether. After being asked byTheWrapwhether he would ever return to reality TV, Cuban replied, "I'm getting asked that a lot now that people know that I'm leaving — I doubt it." Cuban explained that while he is leaving the show, he still has some loose ends to take care of from his years of investments. "I still have to do updates with the companies that I've invested in," he said. "So I'll come back and visit, do my updates and I'll turn it over to somebody." As for his goal to spend more time with his kids, Cuban told PEOPLE he was most looking forward to "vacations" with his children after stepping away fromShark Tank. Read the original article onPeople