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. Daymond John has a net worth of $350 million and is the third richest Shark.
| Name: | Daymond Garfield John |
|---|---|
| Net Worth: | $350 million |
| Annual Earnings: | $25 million+ |
| FUBU Valuation: | $30 million |
| Wife: | Heather Taras |
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 divorced when he was ten, and soon started working to help support his mother.
John went to a Catholic school in Queens for his early education. He was a part of a program in high school that allowed him to work long hours and attend school at the same time.
At 16 years old, his mom got a new boyfriend. He was an attorney, and 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 co-founded the clothing line FUBU along with Keith Perrin, Carlton Brown and J. Alexander Martin. His mother allowed him to use their house to manufacture the clothing and even taught him how to sew.
The young hustler began 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, sales jumped after John persuaded LL Cool J to wear a FUBU shirt.
After getting rejected by every bank for a loan, Daymond’s mother spent the last of their money on a New York Times advert. As a result, they scored a deal with Samsung Textiles.
FUBU’s sales peaked at $350 million in 1998 but since then the clothing brand’s popularity has faded. According to Zoominfo.com, FUBU makes $7.6 million in annual revenue. Complex.com reported the reason for FUBU’s decline was oversaturating the market with products.
Shark Tank
Daymond John was invited to join the main cast of ABC’s Shark Tank in 2009. He has been on the show since season one and is still a key cast member.
As a Shark, he doesn’t make a lot of deals compared to the likes of Cuban, but his biggest deals include Bubba’s-Q Boneless Ribs, Bombas Socks, Sun-Staches, Hells Bells Helmets, and Garage Door Lock.
In May 2023, Daymond hit the headlines for filing a restraining order against three past contestants from Bubba’s-Q Boneless Ribs. Al Baker and his two partners accused John of cutting them out of profits and trying to take control of their company.
Other Ventures
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 $50,000 – $100,000 for live events.
Net Worth and Earnings
Globally, his apparel company FUBU has grossed over $6 billion in lifetime 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. In total, he now has four published 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. In 2016, the Shark Tank investor was diagnosed with thyroid cancer and overcame the condition in 2017. This has sparked him to live a healthier lifestyle.
