Daymond John is an entrepreneur, public speaker and investor known for being a member of the reality TV series Shark Tank. He started his success by founding the hip-hop clothing company FUBU. Now, he also runs The Shark Group. As of 2022, Daymond John has a net worth of $350 million.
Early Life
John 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 he started working afterwards.
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 go to school at the same time.
When he turned 16, his mom got a new boyfriend. He was an attorney, and he mentored Daymond. The aspiring entrepreneur started his business ventures as soon as he finished high school.
Founding FUBU
While working as a waiter at Red Lobster, John created his first business. It was a clothing line called FUBU, which stood for “For Us, By Us.” He asked his mother to use her house for the startup, and she agreed. She even taught his son to sew.
He started by crafting hats and later moved to make tees, jerseys, and sweatshirts. Daymond and his mom mortgaged their house to get startup capital and they hired close friends to help out.
In 1993, John persuaded the rapper and old neighborhood buddy LL Cool J to participate in a promotional effort by wearing a FUBU T-shirt. The brand was advertised by the New York Times and had a deal with Samsung Textiles. It soon became a global hit.
Shark Tank
Daymond John was invited to join the main cast of ABC’s Shark Tank in 2009. He agreed and became one of the wealthy investors who listened to hundreds of business pitches from aspiring entrepreneurs on the show.
As a Shark, he has made numerous deals. 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 pursuits. He created The Shark Group, a brand consulting firm. He wrote his first book, The Brand Within, in 2010. Daymond went on to become a popular motivational speaker and charges $50,000 – $100,000 for live events.
Net Worth and Earnings
Globally, his apparel company FUBU has made nearly $6 billion in sales. On Shark Tank, Daymond John has made a total of 61 deals. All of these investments sum up to $8,567,000, and they have made massive returns.
His consulting firm is one of the most sought-after in New York. 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.
