Mark Cuban has made gains and setbacks during his time on “Shark Tank.”
After 15 seasons on the hit ABC business reality show, Cuban, 66, appeared in his final “Shark Tank” episode May 16, during the Season 16 finale.
The savvy Dallas Mavericks minority owner, along with his fellow sharks, has made a few bad bets while investing on the show, though ultimately, he said he’s turned a major profit.
Cuban told CNBC Make It that he invested “about $33 million” during his time on the show, receiving $35 million in cash returns and holding equity now worth “at least $250 million.”
The businessman has invested in dozens of “Shark Tank” featured businesses over the years, and committed to even more on screen. One business in particular had all five sharks – Cuban, Kevin O’Leary, Daymond John, Lori Greiner and Robert Herjavec – biting for the first time. All pooled a $1 million investment for a 30% company stake, which turned out to be a dud.
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In 2013, entrepreneur Charles Michael Yim pitched his Breathometer as the world’s first smartphone breathalyzer. Yim even brought champagne to test it. Blame the bubbles, but the pitch worked.
The party started to end in January 2017, when the Federal Trade Commission filed a complaint against Yim and Breathometer, alleging the company misled customers about the product’s ability to accurately measure blood alcohol content.
Breathometer settled with the FTC over that complaint, but was compelled to fully refund every customer who had purchased the device (typically retailing for $49.99), according to an FTC statement.
“It was a lot of money, and I did a poor job of due diligence,” Cuban told USA TODAY. “It really didn’t turn out anywhere near what I expected.”
Cuban has also made several impressive deals, including in Tower Paddle Boards, Nuts ‘N More, SAT prep company Prep Expert and skincare company Simple Sugars, according to Nasdaq.
In his farewell, Cuban looked back on his time on the show fondly.
“I’ve learned so much from all of you,” Cuban said to Barbara Corcoran, Greiner, Herjavec, John and O’Leary in his farewell episode. “And to ‘Shark Tank,’ The people who supported us, to the people who love us. I love you guys like family.”
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Why is Mark Cuban leaving ‘Shark Tank’?
Cuban cited family as his official reason for leaving the show. Cuban and wife Tiffany Stewart share three children: daughters Alexis and Alyssa and son Jake.
“My kids are teenagers, and I want to spend more time with them,” Cuban told People magazine in October. He pointed to the family-conflicting two-week shooting schedule in June and September as the deal-breaker. “When they were young, it was like, ‘OK, 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.”
This article originally appeared on USA TODAY: Mark Cuban ‘Shark Tank’ net worth: Investment wins and losses
