It sure looks like Mark Cuban is walking away from everything that made him Mark Cuban
Borja B. Hojas via Getty Images
- Billionaire Mark Cuban made a name for himself as a businessman and media personality.
- But he's now selling his majority stake in the Dallas Mavericks, per ESPN and the AP.
- So it could well be the end of an era for the Mark Cuban that we've come to know.
Billionaire Mark Cuban is many things — a serial entrepreneur who has dabbled in tech and pharmaceuticals, a reality TV star, and the longtime owner of the Dallas Mavericks.
But if recent reports are anything to go by, that could soon be the Mark Cuban of yesterday, as he sheds parts of his portfolio emblematic of his public persona.
Last week, Cuban said he was moving on from ABC's "Shark Tank." Cuban has been a fixture on the entrepreneurial reality show since joining the series full-time in 2012.
The 65-year-old is also looking to sell his majority stake in the Dallas Mavericks to the Adelson family, according to Tuesday reports from ESPN and the Associated Press. He's owned his stake in the Mavericks since 2000, when he bought it from real estate developer Henry Ross Perot Jr.
It is unclear why Cuban is ditching these high-profile business ventures.
But speculation has started swirling once again about the tech mogul's political ambitions, particularly on whether cashing out on the Mavericks might be a move to build a massive funding war chest. Some users on X, formerly known as Twitter, believe Cuban's moves are a prelude to a presidential run.
The theory that Cuban might be considering a presidential bid isn't that outlandish, considering that he's talked about running several times. That said, Cuban did tell NBC News in July that he doesn't plan to run in 2024, which would see him launching a bid in a crowded field that includes the incumbent President Joe Biden, and former President Donald Trump, the current Republican frontrunner.
"No. My family would disown me," Cuban told NBC News via email in response to queries about a possible 2024 run as a third-party candidate.
Cuban's explanation for these big moves — for now — is that he's just trying to get some time off.
On Monday, Cuban told The Hollywood Reporter that he loved "Shark Tank" but was leaving the show to spend more time with his kids. Cuban has three children with his wife, Tiffany Stewart — Alexis, 20, Alyssa, 17, and Jake, 13.
And when all's said and done, the rumored sale of Cuban's Dallas Mavericks majority stake could still leave him in charge of governing the franchise and remaining its most ardent ambassador, per ESPN's and the AP's reports.
But in any case, one thing's for certain. This may very well be the end of an era for the "Shark Tank"-starring, Mavericks-owning Mark Cuban we've all come to know.
Cuban did not immediately respond to a request for comment from Business Insider sent outside regular business hours.