Mark Cuban, known as one of the prominent sharks on “Shark Tank,” has decided to step away from the show after the upcoming 16th season. The billionaire entrepreneur has cited his various other commitments as the reason for his departure, expressing that leaving the show will allow him more time to focus on his other business ventures. Earlier this year, Cuban launched Cost Plus Drugs, a public benefit corporation aimed at reducing pharmaceutical prices for consumers by providing lower costs for generic drugs. Managing this venture, along with his business partner Dr. Alex Oshmyansky, has become a significant demand on Cuban’s time and energy, as reported by the Harvard Political Review.

In a statement to Inc., Cuban mentioned that his main reason for leaving “Shark Tank” was to prioritize spending time with his family. He emphasized that with children ages 14, 17, and 20, he wants to maximize the summers and cherish family moments before his children become more independent. Although there is one more season left for Cuban on “Shark Tank,” fans will have the opportunity to see him in action before his departure.