Mark Cuban Bids Farewell to Shark Tank, Fueling Speculation of a 2024 Presidential Run
Mark Cuban, American billionaire businessman, investor and television personality is making a notable exit from the famous show, Shark Tank.
In case you were unaware, Shark Tank is a show where entrepreneurs will pitch their business idea to a panel of investors, seeking investment. Cuban has been one of the main investors on the show since 2011, contributing to 85 deals across over a hundred episodes.
Cuban recently announced that Season 16 will be his last season of the show on Showtime Basketball’s All The Smoke podcast.
This has sparked speculation that he might be running for president in 2024 but he just said, “I’m out.”
Background of Mark Cuban and His Shark Tank Departure
Mark Cuban’s journey to fame began in 1999 with the launch of Broadcast.com, an Internet audio and video site, which he later sold to Yahoo for $5.7 billion.
He owns NBA’s Dallas Maverick and is even a co-founder of Cost Plus Drugs, which he launched in 2022 with the aim to lower prescription drug prices, thereby making him one of America’s most famous billionaires.
Cuban is currently in the process of selling a majority stake of The Mavericks to billionaire Miriam Adelson and the Adelson Family, a move that surprised many sports fans.
The sports team is reportedly valued at $3.5 billion USD. He will retain some stake in the team and will maintain full control over its basketball operations.
Why are There Presidential Speculations?
Mark Cuban is primarily associated with Shark Tank and The Mavericks, hence, these significant changes have fuelled rumours that he might be running for president in 2024.
But what’s the basis for this conclusion?
Mark Cuban had previously hinted at potential presidential aspirations.
In 2015, he considered being a Speaker of the White House and even thought of running for president in 2016 alongside Hillary Clinton and Donald Trump.
In 2020, Cuban openly criticised former US President Donald Trump and contemplated a presidential bid but ultimately decided not to as his family was against it.
Reason for His Departure
Amidst the speculations, Cuban has confirmed that he will not be running for president. He humorously mentioned to NBC that his family would disown him if he pursued such a path, indicating their strong opposition.
His departure and selling a majority stake of the NBA team seems more aligned with seeking a better work-life balance. He reportedly wishes to spend more time with his three kids and to enjoy his summers with his family.
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