In this article, we will explore the wealth of Daymond John, considering how he built his fortune as a businessperson and star of “Shark Tank”.
From his beginnings with FUBU to successful investments and other business endeavours, we will give a global perspective on John’s financial accomplishments and current net worth.
We take you through the path that has led to his triumphs.
Quick Facts
| Attribute | Details |
|---|---|
| Full Name | Daymond Garfield John |
| Date of Birth | February 23, 1969 |
| Birthplace | Brooklyn, New York, USA |
| Occupation | Entrepreneur, Investor, Author, Speaker |
| Known For | Founder of FUBU, Investor on “Shark Tank” |
| Education | Attended Central State University (no degree) |
| Notable Achievements | Built FUBU into a global fashion brand, successful investor on “Shark Tank” |
| Net Worth | Approximately $350 million (as of 2024) |
Daymond John’s Net Worth
Daymond John is a famous American entrepreneur, fashion designer, writer, and TV host with a net worth of $350 million.
Daymond John was able to amass such wealth by establishing the FUBU clothing line in the urban centres, holding different portfolios as an investor, and being on the show “Shark Tank.”
Early Life
Daymond Garfield John was a Brooklyn, New York City child born to Margot and Garfield John on February 23, 1969. His upbringing took place in the Hollis neighbourhood of Queens.
When Daymond was ten years old, his parents split up, therefore he had to find work at an early age to help with his family’s finances. He began by giving out leaflets for $2 per hour.
In high school, he participated in a work-study program that enabled him to combine full-time employment with schooling.
After graduation, he worked as a waiter at Red Lobster and started a commuter van service.
FUBU
Daymond John created FUBU at twenty years old in his mother’s home, located in Queens, as a brand that means “For Us By Us.”
As an admirer of hip-hop music and fashion, he sought to provide for young men living in the cities.
Under the guidance of his mother, who taught him how to sew and remortgage her house to generate an initial capital of $100k, Daymond’s starting product line consisted of wool ski caps.
Together with Carlton Brown, they made forty hats like these and sold each at ten dollars, resulting in eight hundred dollars in profit within one day.
They then progressed to selling custom screen-printed T-shirts displayed during local functions.
They later featured jerseys, sweatshirts, and t-shirts with FUBU logos made by J. Alexander Martin and Keith Perrin, who had come on board with Daymond and Brown, respectively.
These items were strategically placed in over thirty music videos for maximum visibility.
The central turning point occurred when LL Cool J wore a FUBU shirt or hat in a Gap commercial, popularizing it through endorsements. For instance, performing this act ignited the brand globally (LL).
Despite going through tough times, including being initially turned away by 27 banks, Samsung Textiles called after seeing the successful ad in the “New York Times.”
In six years, FUBU’s annual sales have been higher than $350 million, and till now, this brand has passed $6 billion in worldwide sales, with it slightly losing its market influence.
Is Daymond from Shark Tank a billionaire?
Daymond John has a wealth of $350 million. Although he is not yet a billionaire, this does not preclude the possibility of becoming one.
In his book Rise and Grind, published in 2018, John reflects on being more motivated and determined than ever.
He told Business Insider in an interview that everyone has entrepreneurship as part of them, no matter how society may doubt this fact.
“We don’t think about limitations as children; we think about being superheroes,” he said.
Daymond John’s Personal Life
Daymond John has been married twice. From his initial marriage, he is a father to Destiny and Yasmeen.
In 2018, John tied the knot with Heather Taras, consequently they have a daughter called Minka Jagger.
John also has dyslexia. This was confirmed in April of 2017 when he had surgery to remove stage two thyroid cancer.
Accolades
The president appointed John to serve as a representative of the underserved entrepreneurs in 2015.
His books appeared on The New York Times and Wall Street Journal bestseller lists. NAACP Image Award for Outstanding Instructional Literary Work was won by “The Power of Broke”.
At the Smithsonian’s National Museum of African-American History and Culture, FUBU is exhibited.
John has received many recognitions, such as NAACP Entrepreneur of the Year and Ernst & Young’s New York Entrepreneur of the Year. He also won the Congressional Achievement Award for Entrepreneurship twice.
For his role in Shark Tank, John was awarded Outstanding Structured Reality Program at Primetime Emmy Awards from 2014 through 2017.
Conclusion
From the above, it is clear that Daymond John’s significant net worth of $350 million proves his entrepreneurial skills and persistent determination.
He built an enormous wealth through creative business ventures and well-thought-out investments, from FUBU establishment to becoming a member of “Shark Tank”.
John’s way shows the ability to have a futuristic mentality coupled with resoluteness in terms of financial triumphs; he remains one of the most famous persons in the industry with some new opportunities ahead.
