Mark Cuban says he's planning to leave 'Shark Tank' to spend more time with his kids

• Mark Cuban says he's leaving "Shark Tank" after more than a decade on the show.
• Season 15 of "Shark Tank" began airing in September.
• As of 2022, Cuban says he invested $29 million in "Shark Tank" businesses, Forbes reports.

ABC's "Shark Tank" will soon be down a billionaire if Mark Cuban makes good on his plan to leave the show.

During an episode of the "All the Smoke" podcast last week, Cuban said "it's time" for him to move on from the entrepreneurial reality show after more than a decade as a shark.

"Next year is the 16th year, and it's going to be my last year," Cuban told podcast co-hosts and NBA players Matt Barnes and Stephen Jackson.

The billionaire confirmed his plan to leave the show in an email to The Hollywood Reporter on Monday. He also assured that there was no bad blood on set.

"I just want to have a couple summers with my teens before they go off on their own," Cuban said, according to THR. "Nothing to do with the show. I love it."

Cuban didn't immediately respond Business Insider's request for comment ahead of publication. ABC declined to comment on whether "Shark Tank" will continue if Cuban leaves after season 16.

Cuban has been a mainstay judge on the show since its third season in 2012. Season 15 premiered in September with Barbara Corcoran, Lori Greiner, Daymond John, Kevin O'Leary, and Robert Herjavec returning with Cuban as "sharks."

"I love it because it sends the message the American dream is alive and well," Cuban said on "All the Smoke" last week.

In 2022, Cuban told Forbes that he'd invested $29 million in at least 85 companies at that point in his time as a "Shark Tank" judge. He also told the publication that he was considering an exit from the show at the time.

"Part of me wants to quit," he told Forbes. "They'll survive fine without me."

The billionaire investor recently received backlash in September after posting a "Tip of the Day" TikTok video encouraging people to save money by spending less on extra fancy treats.

ABC has yet to announce season 16 of "Shark Tank."