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Tyra Banks, Jessica Alba, Warren Buffett, Steve Ballmer and Patrick Knapp Schwarzenegger will serve as advisers on the new season.

The action will shift from New York to California this year with a new headquarters in Silicon Beach. According to NBC, the contestants will "compete in challenging, business-driven tasks more focused than ever on technology and innovation, testing their ability to work together as a team while raising money and awareness for their favorite causes."

NBC severed ties with Donald Trump in June 2015 after the Republican presidential candidate made several derogatory remarks about immigrants. (Trump released a statement saying he planned on stepping away from the show anyway because of his presidential run.) In September, it was announced that Schwarzenegger would be replacing Trump as the host.

"I have always been a huge fan of The Celebrity Apprentice and the way it showcases the challenges and triumphs of business and teamwork," the Terminator actor and former Governor of California said in a statement. "I am thrilled to bring my experience to the boardroom and to continue to raise millions for charity. Let's get started!"

And while some expected Trump to have some less-than-kind words to say after being replaced by NBC, his reaction was the exact opposite. "Congrats to my friend @Schwarzenegger who is doing next season's Celebrity Apprentice," Trump tweeted. "He'll be great & will raise lots of $ for charity. To all my fans, sorry I couldn't do The Apprentice any longer—but equal time (presidential run) prohibits me from doing so. Love!"

The series has raised more than $15 million for charity. This season's winner will not only get the coveted title, but also a $250,000 check to give to their designated charity.

No premiere date was announced.

(E! and NBC are both part of the NBCUniversal family.)