Mark Cuban explains why he's no longer voting for Donald Trump

Tech billionaire and "Shark Tank" host Mark Cuban used to support Donald Trump's presidential run, but he has since changed his mind.

On Wednesday's "Late Show," host Stephen Colbert asked Cuban why he flip-flopped from saying the real-estate mogul was the "best thing to happen to politics" last year to changing his stance in May, and then announcing he has become a "Never Trump" supporter on Twitter earlier this week.

"At the beginning, he was a businessperson," Cuban explained. "I wanted to see a change from the traditional politician, but then he went and opened his mouth."

Cuban then added, "He had a really good chance to be different and really have a chance to change things, but he doesn't do the work. He's lazy."

Colbert then wondered what the Billionaire Boys Club thinks of Trump. After joking that they've stopped inviting Trump to the meetings and changed the secret handshake, Cuban explained that the real proof is in who's donating to the Trump campaign.

In its search for an alternative to Trump, it was reported that they did tests on Mark Cuban for a possible third-party candidacy. But as for Cuban's own aspirations for presidential run, the billionaire said it's not going to happen.

"I just don't want to put my family through it," he said. "My 6-year-old, Jake, loves the idea, but it's just a lot of scrutiny and my kids are young and I want to spend time with them. And typically, I just dislike politics."

If Cuban's opposition to Trump wasn't clear enough, he also took part in a special edition of Colbert's "Take the Gloves Off." In it, he takes shots at Trump's bankruptcy record, his business acumen, and his orange tan, among other things.

Watch the interview and "Take the Gloves Off" segment below: