A new shark is diving into the tank.

The founder of KIND Snacks, Daniel Lubetzky, is set to join the cast of Season 16 of “Shark Tank.” He will eventually take over Mark Cuban’s position as he heads out of the show.

The Mexico City-born entrepreneur will be part of a lineup featuring Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary, as officially confirmed by the show’s Instagram account on Wednesday. Cuban will remain until the end of Season 16 before departing next year.

After being a recurring guest on ABC’s popular show for the last five seasons, Lubetzky expressed his excitement to join such a talented group and to help aspiring entrepreneurs achieve their “American dream.”

“This is my first full season as a regular shark,” Lubetzky shared in an Instagram clip. “My mom is still with us, and I hope she is proud, while I also hope my dad is smiling down on me, not only seeing what I have accomplished but also how I achieved it, staying true to the values he instilled in me.”

About Daniel Lubetzky

Daniel Lubetzky is the executive chairman of KIND, a snack company he started in 2004 and sold in 2020, but he still retains a financial interest. KIND is celebrated for its delicious yet nutritious nut and fruit bars and is actively involved in various social change initiatives.

The 56-year-old philanthropist also founded the marketing and consulting firm PeaceWorks, co-founded the civic initiative Builders Movement, and oversees the investment firm Camino Partners. His estimated net worth is around $2.3 million, according to Forbes.

Lubetzky was born in Mexico City to Sonia and Roman Lubetzky, a holocaust survivor. He has openly discussed his journey of resilience. He studied at Trinity University in San Antonio with a focus on economics and international relations, eventually graduating from Stanford Law School.

Why is Mark Cuban Leaving ‘Shark Tank’?

Mark Cuban declared his departure from “Shark Tank” last November after more than a decade as a prominent investor on the show.

Cuban’s exit is planned for 2025, following the filming of Season 16, as he previously mentioned in an email to YSL News.

“I simply want to spend a few summers with my kids before they head off to college,” Cuban stated to The Hollywood Reporter on Monday. “My decision has nothing to do with the show; I truly love it. I love participating in it and appreciate what it represents, motivating entrepreneurs globally.”

When Will ‘Shark Tank’ Return?

Season 16 of “Shark Tank” is scheduled to debut on ABC on Friday, October 18, at 8 p.m. ET, with new episodes airing every Friday night.

Additionally, episodes, including the premiere, will be available for streaming on Hulu the following day, Saturday, October 19.

Upcoming guest sharks for Season 16 will feature Jamie Kern Lima, co-founder of IT Cosmetics, Kendra Scott, a jewelry brand founder, venture capitalist Rashaun Williams, and Todd Graves, the founder of Raising Cane’s.