The model joined the show in 2020 after co-hosts Tom Bergeron and Erin Andrews were let go.
From the ballroom to the boardroom! Tyra Banks made a big revelation when a TMZ camerawoman approached her on Thursday in Santa Monica, California.
The 49-year-old supermodel and businesswoman revealed that she doesn't plan to return to her hosting gig on Dancing With the Stars next season.
"I'm really focused on business, like, crazy, crazy, crazy focused on business," she shared, referencing her ice cream brand, SMiZE and Dream. "I feel it's time for me to really focus on my business and entrepreneurship and also producing more TV but behind the scenes. I think it's time to graduate from the dance floor to the stock market floor."
When the camera person asked Banks if that meant she was leaving DWTS, she replied, "I think it's time. Don't you think it's time?"
As for why she's choosing to hang up her hosting hat, Banks explained, "I'm an entrepreneur at heart... I think my heart, my soul is into my business. It's also into producing new TV. We've got a new business show coming soon. Holla! I really, really want to focus on my business, and you can't do that hosting a show. You'll see me creating things, not just hosting things."
A source close to Banks tells ET of her DWTS departure: "Tyra has always done things differently. Her SMiZE and Dream ice cream company will churn out much more than sweet treats this year with a global mission to make people’s dreams come true. Tyra’s also combining ice cream and entertainment so there will be a big announcements this year. She’s so enjoyed her time at DWTS and is incredibly grateful to ABC’s generous executive team and all of the amazing cast and crew."
ABC who had no additional comment at this time. ET has also reached out to a rep for Banks for further comment.
Banks joined DWTS as a host in 2020 after the controversial firings Tom Bergeron and Erin Andrews as co-hosts. This past season she was joined by former DWTS winner Alfonso Ribeiro to co-host season 31 on Disney+. Banks previously shared her excitement about working alongside her longtime friend and former Fresh Prince of Bel-Air co-star in September 2022.
"So, with the addition of Disney+ there's a whole new way of doing the show and it's impossible to host the show alone," Banks shared at the time. "It's impossible based on no commercials, needing to clear the sets and so we knew that we needed to have a co-host. They said one name to me. One. The first. You [Ribeiro] were not down the list. The first, and I was like, 'Stop right there.' I was like, 'People are going to be obsessed with this.'"
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