Daymond John, the American businessman, investor, television personality, author and motivational speaker, best known for his appearance as an investor on the ABC reality series Shark Tank is worth $250 million. John who started his clothing business by mortgaging his house is today the founder and CEO of FUBU, founder of Shark Group and is one of the most successful investors.
Daymond Garfield John was born in Brooklyn, New York, U.S and grew up in Queens neighbourhood of Hollis.
- Suggested Read – Mark Cuban Net Worth
John initially had different jobs including handing out flyers and waiting tables. John, who was driven to be an entrepreneur, started a commuter van service after his high school.
John started his apparel company FUBU, in his mother’s house in Queens. His mother taught him to sew when she discovered John’s interest in starting a clothing company.
He began to sew hats with his neighbour and began selling them for half the price offered in the market. Eventually, they even began to sell T-shirts, while John continued to wait tables to make ends meet.
His mother decided to mortgage their house for $100,000 to raise capital for the clothing business, and John soon recruited his longtime friends. The business soon picked up especially among the rappers who ordered the clothes in bulk.
When the banks failed to loan John, the deal that he made with the Samsung Textiles came as a saviour and immediately the FUBU brand was famous all over the world. FUBU has now earned over $6 billion in global sales.
In 2009, John joined the Television show Shark Tank as an investor, and some of his noteworthy investments include Al Bubba Baker’s boneless ribs and Bombas socks.
John is also the founding member of the Shark Group, a brand management and consulting firm.
With his success speaking louder and louder and his fame reaching all the corners of the world, John has also become a public speaker and works with brands and celebrities to generate additional revenue. Some of his clients are Pitbull and the Miss Universe Organization.
He delivered his motivational speech at California First Lady Maria Shriver’s 2010 Women’s Conference, AT&T’s History Makers Tour, Babson College School of Entrepreneurship and the Creative LIAisons program at the annual London International Awards.
In 2015, he was appointed by the then President Barack Obama as an ambassador to promote underserved entrepreneurs. John is also the brand ambassador for the e-commerce company Shopify.
John has authored several books. Some of his well-known books include “Display of Power: How FUBU Changed a World of fashion, Branding and Lifestyle”, “The Brand Within The Power of Branding from Birth to the Boardroom”, “The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for success can become your Greatest Advantage” and “Rise and Grind: Outperform, Outwork and Outhustle Your Way to a More Successful and Rewarding Life”.
Apart from his appearance as an investor in the Shark Tank, he has also guest appeared on various other shows including The Game, The Real, Sharknado 2: The Second One, To Tell the Truth, and The & 100,000 Pyramid.
- Suggested Read – Warren Buffett Net Worth
John is the recipient of numerous awards. He received Brandweek Marketer of the Year, the NAACP Entrepreneurs of the Year Award, the Advertising Age Marketing 1000 Award for Outstanding Ad Campaign, the Essence Award, Crain’s New York Business Forty Under Forty Award, Ernst & Young’s New York Entrepreneurship, Details 50 most influential Men and the Congressional Achievement Award.
Daymond John Net Worth
Daymond John is worth a whopping $250 million. He earns around $700,000 per episode of Shark Tank and about $13 million annually from his various investments.
House and Private Jet
John owns a mansion in Southampton which he purchased for $7 million. The house has six bedrooms and a large swimming pool.
- Suggested Read – Marcus Lemonis Net Worth
John usually travels in his private jet.
John is on the Board of Overseers, and also he volunteers as a host or judge of events conducted by NFTE, a global organisation with chapters in 12 countries that teaches the value of entrepreneurship and core competence to students in low-income areas.
He supports numerous charities including The National Foundation for Teaching Entrepreneurship and Hip-Hop Summit Youth Council.
He was even awarded the prestigious “Hennessy VSOP Privilege Award” for giving back to the community in 2014.
In 2017, John joined the board of The Petco Foundation, a leader and valued partner in welfare.
- Suggested Read – Grant Cardone Net Worth
John was diagnosed with stage II thyroid cancer, however, he successfully underwent surgery to remove the cancerous nodule. John, who is 49 now, had a dream of becoming an entrepreneur at a very young age and thanks to his high school program, which allowed him to work a full-time job while attending school on an alternating weekly basis which encouraged him on becoming one.