Mark Cuban, the billionaire entrepreneur and longtime investor on Shark Tank, has spoken about his financial losses on the show. Despite investing nearly $20 million in various startups throughout the hit show’s run, Cuban admitted during a 2022 appearance on the Full Send Podcast that he hasn’t actually made a profit from his numerous Shark Tank investments.
Considering that over half of the would-be entrepreneurs who appeared on the show received financial investments from one or more of the titular “sharks” (in which Cuban is very much included), it shouldn’t come as too much of a shock that many of these investments didn’t net substantial profits. What’s more shocking is Cuban’s open admission toward the end of the series’ run that, essentially, none of the investments blew up in a way large enough to make the experience a financially beneficial one for him as an investor.
Candid Cuban Confessions
Cuban was candid when asked if he was financially “up” overall. “Oh no, I’ve gotten beat,” he said. Among his losses was Breathometer, a smartphone Breathalyzer startup that Cuban himself was quick to admit was far and away his biggest failure. The company earned backing from all five sharks, including Cuban, Lori Greiner, and Kevin O’Leary, making it a standout deal.
“It was a great idea and actually a decent product,” Cuban recalled during the podcast. However, he noted that the company’s founder, Charles Michael Yim, spent more time on lavish trips to Bora Bora and Vegas than on improving the product. Cuban even texted Yim, urging him to focus on the business, but Yim dismissed it as “networking.” Ultimately, Cuban revealed, “Next thing you know, all the money’s gone.”
Breathometer’s troubles didn’t end with poor management. In 2017, the Federal Trade Commission (FTC) determined that the product’s blood alcohol readings were often inaccurate. This led to a settlement that required the company to issue refunds for devices sold between 2013 and 2015. In other words, it was nothing short of a total disaster.
Cuban’s Investing in a Better Tomorrow
Cuban’s lack of financial success on Shark Tank may surprise fans, but for him, the show has always been about more than making money. “I did 99.99 percent [of it] just because it teaches kids about the power of entrepreneurship,” Cuban shared on the Full Send Podcast. He believes Shark Tank demonstrates that the American dream is still alive, inspiring people of all ages to take risks and start businesses. “If we can inspire young entrepreneurs to come out and do something … that’s huge,” Cuban said.
Bringing Shark Tank to a Close
After 14 seasons of the show, Shark Tank is ending. Cuban said he is stepping away to spend more time with his family. “I’ve missed [time with my kids] for so long. Now they’re teenagers, I just don’t want to miss any more of that time,” Cuban explained in an interview with Good Morning America.
Reflecting on his favorite investments, Cuban pointed to Dude Wipes, a line of personal hygiene products that has grown into a $100 million business. “They’re killing it. They’re taking over the toilet paper category,” he said.
Cuban also acknowledged a missed opportunity with Spikeball, a backyard sports game with significant popularity. “Every time I see it, it just reminds me I missed out,” he admitted.
Lessons for Entrepreneurs
For small business owners and aspiring entrepreneurs, Cuban’s experiences offer valuable insights. While he has faced his share of failures, he remains optimistic about today’s opportunities. “The economy now is wide-open to businesses,” he said on Good Morning America. “There’s been more businesses formed every year now than ever before, so the opportunity is there.”
Ultimately, Cuban’s journey shows that even the most successful investors face setbacks—but those setbacks don’t define them. He says, “You only need to be right once.”
