NEW YORK CITY, New York –
Investor and former billionaire Mark Cuban has filed for bankruptcy, after he says he made a series of bad business deals on Shark Tank.
“Over the last two seasons, I’ve invested in about a dozen different businesses, and every single one of them failed,” said Cuban. “It’s absolutely the worst run of luck in my life. I’ve usually been a whole lot better at figuring out how to stay rich. This crippled me.”
Cuban, who made his fortune by perfectly timing the sale of an internet company before the bubble burst, has been an investor on the show Shark Tank since it began nearly 10 years ago. He is the first Shark to lose their fortune investing in the companies presented.
“I feel kind of bad for him, but not like, super bad or anything,” said Barbara Corcoran, another Shark. “Mark was worth more than the rest of the sharks combined, and it’s actually kind of nice to see a fall like this. It will probably give him a bit of humility. I have no doubt he’ll climb his way back up, but for now, I’m smiling a bit.”