Mark Cuban shuts down the narrative that he’s lost big after betting $29 million on ‘Shark Tank’ by explaining how he’s ‘crushing it in the market’
Mark Cuban might not be leaving the
Shark Tank
set swimming in extra cash from his ventures on the show. But his investments are panning out just as planned.
Responding to a question at
Fortune’s
Brainstorm Tech Dinner in Las Vegas, Cuban
dismissed the idea
that his 15-plus years of bidding as a Shark haven’t paid off.
In 2022, the billionaire admitted that his portfolio of
Shark Tank
investments was making a net loss. “On a cash basis, I’m getting beat,” he said on the
Full Send Podcast
,
adding that his biggest loss was his backing of Breathometer, a smartphone app breathalyzer, which he estimated cost him “probably a million dollars.”
While he maintains that it was a decent product, he noted that he saw posts of the founder going on lavish vacations on
Instagram
. “Next thing you know, all the money is gone,” he said.
Cuban claims to have invested around
$29 million
in at least 85 companies during his time on
Shark Tank
. Now, he is boasting they have panned out—both when it comes to cash and market value.
Mark Cuban’s prized fish
“On a mark-to-market basis, I’m killing it,” he told
Fortune
.
Mark-to-market refers to “an accounting practice that involves adjusting the value of an asset to reflect its value as determined by current market conditions,” per
Investopedia
. In other words, it’s about how much Cuban’s original bids paid off over time as the company appreciated in value.
Certain startups proved especially lucrative for Cuban. He pointed to
BeatBox Beverages
as a prime example: “I put a million
dollars into BeatBox Beverages and I got a third of the company.”
“I’ve been diluted some since,” he added—but the alcoholic drink company has had a
winning year
and generated nearly $200 million annually in revenue.
Dude Wipes too has proven to be a long-term success for Cuban. “I gave $200,000 for 20% of Dude Wipes,” he said, adding that they’re now “worth $300 million dollars.”
He listed other investments like overnight oats company MUSH and sports apparel company Gameday Couture, and “all these different
Shark Tank
companies that are worth over $100 million that I own a chunk of,” as part of his payday. Latest
Forbes
estimates clock Cuban’s worth at $5.7 billion.
“But I don’t count that because it’s not cash,” he concluded. “I’m f—ing crushing it on the market.”
