Slide Over Mark Cuban, There's A New Shark In The Pool: Could This Billionaire Be His Replacement On 'Shark Tank'?

Billionaire investor, entrepreneur and NBA team owner Mark Cuban announced that the 16^th season of "Shark Tank" will be his last.

With a new shark set to join the cast alongside Cuban in the 16^th season, could the show be testing his replacement?

What Happened: Cuban has been a staple on "Shark Tank" since the third season and has invested over $20 million in companies over the numerous seasons of the award-winning investing show.

With Cuban's decision to leave, questions remain on how the show that airs on Walt Disney Co DIS unit ABC will handle future seasons.

On Wednesday, the company announced that Kind Snacks founder Daniel Lubetzky will be joining the show as the first new regular investor in more than a decade, as reported by Variety.

Lubetzky has previously been a guest shark on the show with appearances in Seasons 11 through 15. The billionaire has invested in companies such as Yellow Leaf Hammocks, FitFighter, Toast-It and HummViewer while on the show.

With Lubetzky as part of the regular list of panelists, it adds a billionaire who Forbes estimates his wealth at $2.3 billion. Cuban has a net worth of $5.7 billion according to Forbes.

Lubetzky sold Kind Snacks to Mars in 2020. He now runs the investment company Camino Partners.

"It's an honor to be part of a production that continues to educate, entertain and unite Americans behind the spirit of building together," Lubetzky said.

Lubetzky said he is looking forward to "partnering with entrepreneurs from all walks of life" who are pursuing the American dream.

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What's Next: Lubetzky is set to join the Season 16 panel, which will include the regular rotation of sharks Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O'Leary. The season will be Cuban's last.

The show, which is produced by Amazon.com Inc AMZN-owned MGM Television in association with Sony Group Corp SONY unit Sony Pictures Television doesn't show plans of slowing down despite Cuban leaving.

According to the New York Times, Lubetzky signed a multi-season deal, which likely indicates the producers' confidence in the billionaire having a big part in the show in a post-Cuban world.

"Shark Tank" executive director Clay Newbill said Lubetzky is not a direct replacement for Cuban though.

"Personally, I don't think that you can replace Mark Cuban. He's a force on the show," Newbill said.

Four new guest sharks are also being added for Season 16, including venture capitalist Rashaun Williams and Raising Cane's CEO Todd Graves.

Season 16 is set to premiere on ABC on Oct. 18.

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