Daymond John is an entrepreneur, public speaker and investor known for being a Shark on ABC’s Shark Tank. He made his fortune founding FUBU, a hip-hop clothing brand. Daymond still serves as the CEO of FUBU and also runs The Shark Group. As of 2023, Daymond John has a net worth of $350 million.
Early Life
Daymond is a native of Brooklyn, New York. He was born on February 23, 1969 and spent a lot of his childhood in Queens. His parents got a divorce when he was ten, and soon started working to help support the family.
The young working man went to a Catholic school in Queens for his early education. He was a part of a program in high school that enabled him to work long hours and attend school at the same time.
When he turned 16, his mom got a new boyfriend. He was an attorney, and he mentored an ambitious young Daymond. The aspiring entrepreneur started his first business venture as soon as he finished high school.
Founding FUBU
While working as a waiter at Red Lobster, John started the clothing line called FUBU, which stood for “For Us, By Us.” Her mother allowed him to use their house to manufacture the clothing. She even taught his son to sew.
He started by making hats and later moved to make tees, jerseys, and sweatshirts. Daymond and his mom mortgaged their house to get startup capital and hired close friends to help out.
In 1993, John persuaded the rapper and old neighborhood buddy LL Cool J to promote one of his products by wearing a FUBU T-shirt. After being rejected by every bank for a loan, Daymond’s mother boldly spent the last of their money on a New York Times advertisement. As a result, they scored a deal with Samsung Textiles which helped them complete all of their orders.
Shark Tank
Daymond John was invited to join the main cast of ABC’s Shark Tank in 2009. He accepted the offer and has been on the show since season one and is still a key cast member.
As a Shark, he doesn’t do a lot of deals and his biggest investments include Spikeball, Bubba’s-Q Boneless Ribs, Bombas Socks, Sun-Staches, Hells Bells Helmets, and Garage Door Lock.
With the success of the show, John launched other business ventures. He created The Shark Group, a brand consulting firm, and published his first book, The Brand Within. Daymond is now a popular motivational speaker and charges around $50,000 – $100,000 for live events.
Net Worth and Earnings
Globally, his apparel company FUBU has made $6 billion in sales. On Shark Tank, Daymond John has invested around $8.5 million in over 60 companies on the show. Not all of his investments have turned out well but he has hit some huge winners.
His consulting firm is highly regarded in New York and as a public speaker, he has signed deals with Shopify and Audible to serve as a brand ambassador. He has published four books that add to his $350 million wealth.
Personal Life
John was once married to Margot John with whom he had two daughters, Yasmeen and Destiny. In 2018, he married entrepreneur Heather Taras and they have one daughter together, Minka Jagger.
