Mark Cuban, who launched his pharmacy company Mark Cuban Cost Plus Drug Co. a few months ago, is set to return as a judge on Season 14 of Shark Tank. The new season of the reality show will air on Friday, September 23, 2022, at 8 pm ET on ABC.
Other than Cuban, business tycoons who will return on Shark Tank include Robert Herjavec, Daymond John, Barbara Corcoran, Lori Greiner, and Kevin O'Leary. Season 14 will also see some other guest sharks.
These business tycoons will look at some interesting and innovative business ideas from budding entrepreneurs before deciding whether to invest in it or not.
All about Shark Tank judge Mark Cuban's pharmacy business
Mark Cuban’s pharmacy company has been in the news since its launch in January for its ultra-cheap medications. The company offers generic and commonly used medications at extremely low prices. It also helps give people in the United States easy access to life-saving prescription drugs, especially for people without insurance.
Cuban said that he started the company to try and "disrupt the drug industry" and to "end ridiculous drug prices."
According to the company's mission statement, without insurance or with a high deductible plan, all kinds of medication costs a fortune. Thus, Cuban said that every person in America should have "access to safe, affordable medicines.”
Although Cuban doesn't do any kind of marketing for his company, he relies on the word of mouth marketing. He explained how his company manages cost cutting and said:
“Every product we sell is priced exactly the same way: our cost plus 15%, plus the pharmacy fee, if any. When you get your medicine from Cost Plus Drug Co., you’ll always know exactly how we arrived at the price you pay.”
Shark Tank judge Mark Cuban's net worth
The American entrepreneur has an estimated net worth of $5 billion, according to Celebrity Net Worth. He is the chairman of HDNet, an HDTV Cable Network and also the owner and chairman of AXS TV.
Cuban, who was born in Pennsylvania, earned his first fortune from a company called MicroSolutions. He then earned billions in 1999 after selling Broadcast.com to Yahoo.
He later bought the Magnolia Pictures, Landmark Theaters and Dallas Mavericks, which won the NBA Championship in 2011. He also bought a private jet worth a $40 million.
Breathometer was Mark Cuban's "biggest beating" on Shark Tank
Cuban is best-known as one of the longtime judges of Shark Tank ever since he joined the reality show in Season 2 as a regular judge. He never misses the chance to make good investments on the show but he did face a huge loss due to one of his decisions.
While talking to the Full Send podcast, he said that the worst investment deal he’s ever made on Shark Tank was the Breathometer. The product is “the world’s first smartphone breathalyzer,” launched by Charles Michael Yim in 2013.
“It was a great product. But, the guy – Charles – I’d look at his Instagram and he’d be in Bora Bora ... Two weeks later, he’d been in [Las] Vegas partying, and then he’d be on Necker Island with Richard Branson.”
Cuban said that he would text Charles saying that he was supposed to be working, but the latter would claim to be networking on behalf of the business. The entreprenuer stated, all the money was gone pretty soon and even called the investment his “biggest beating.”
Mark Cuban is now back on Shark Tank Season 14 to make some good investments. Tune in on Friday to watch the new season of Shark Tank.