Daymond John Net Worth: How Rich Is Shark Tank’s, Daymond John?
Daymond Garfield John was born on February 23, 1969, in Brooklyn, New York, to Margot and Garfield John. He grew up in the Queens community of Hollis. When his parents divorced when he was ten years old, he went to work to support the family.
His first job paid $2 per hour and involved handing out brochures. In high school, he enrolled in a work programme that allowed him to work full-time and complete his academics on a different schedule.
He worked as a waiter at Red Lobster after graduation and then founded a commuter van service.
Daymond John’s Career!
When John was 20 years old, he founded FUBU, a clothing company whose acronym stands for “For Us By Us,” at his mother’s house in Queens. The concept was aimed at the young, male, urban clientele, and it combined his passions for hip-hop and fashion.
His mother taught him to sew and gave him the keys to the house so he could expand his company. Daymond’s mother famously mortgaged her house to raise $100,000 in startup money after seeing her son’s passion and ability.
In order to make ends meet while building his business, John continued to work full-time at Red Lobster. His initial effort was to make knock-off wool ski hats, as he thought the fashionable hats at the time were exorbitant at $20 each.
With his next-door friend and future business partner, Carlton Brown, he stitched roughly 90 such hats. They made $800 in one day by selling their handcrafted hats for $10 apiece.
Screen-printed T-shirts were their next initiative. They sold on consignment at large local events. J. Alexander Martin and Keith Perrin joined John and Brown in their business, and the partners began designing FUBU-branded hockey jerseys, hoodies, and T-shirts.
They gave some of the garments to rappers to use in their music videos in the hopes of receiving an endorsement, and they ended up having product placement in over 30 videos.
In 1993, LL Cool J (a buddy from the neighbourhood) wore a FUBU T-shirt in a promo campaign and a FUBU cap in a Gap commercial, instantly enhancing their fame and brand identity.
John received $300,000 in orders in the early 1990s and had to take out a second mortgage on his mother’s house to fulfil them.
After being rejected by 27 banks for a second loan, the two used the rest of their funds to place an ad in the New York Times, which led to a contract with Samsung Textiles.
Within six years of its founding, FUBU has amassed revenue of more than $350 million each year. Since then, the brand’s appeal has dwindled. FUBU, on the other hand, has made over $6 billion in worldwide sales to date.
Daymond John’s Other projects!
Daymond John is well known for his role as a judge on the television show “Shark Tank,” which he began in 2009. John has put more than $8.5 million of his personal money into “Shark Tank” firms.
He’s also the author of rising & Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life, as well as Display of Power, The Brand Within, The Power of Broke, and Rise & Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life.
John also executive produced “The Crow: Wicked Prayer” in 2005. John is a Shopify brand ambassador. He started The Shark Group, a consultancy and brand management agency, and serves as its CEO.
He co-founded Daymond John’s Success Formula in 2015, a programme that teaches entrepreneurs how to build businesses from the ground up. In September of this year, he changed his name to Next Level Success.
The programme collaborates with the Network for Teaching Entrepreneurship, which awards two prospective entrepreneurs a $1,500 stipend each year. He also operates “Daymond on Demand,” an online training programme for entrepreneurs.
Daymond John’s Accolades!
In 2015, President Barack Obama named John as an ambassador to promote underrepresented businesses.
John’s works have been on the best-seller lists of the New York Times and the Wall Street Journal. The NAACP Image Award for Outstanding Instructional Literary Work was given to The Power of Broke.
The Smithsonian’s National Museum of African-American History and Culture has a display of FUBU. John has received numerous accolades, including the NAACP Entrepreneur of the Year, Ernst & Young’s New York Entrepreneur of the Year, and the Congressional Achievement Award for Entrepreneurship on two occasions.
In 2014, 2015, 2016, and 2017, John received Primetime Emmy Awards for Outstanding Structured Reality Program for “Shark Tank
Daymond John’s Personal Life!
From his first marriage, John has two kids, Destiny and Yasmeen. In 2018, he married Heather Taras, his second wife. Minka Jagger, the couple’s daughter, was born to them.
John suffers from dyslexia. In April 2017, he was diagnosed with stage II thyroid cancer, however, the tumour was surgically removed successfully.
Daymond John’s Net Worth!
Daymond John has a net worth of $350 million and is an American businessman, fashion designer, author, and television personality.
John amassed his fortune as the founder, former CEO, and president of the urban clothing brand FUBU, as well as an investor and a Shark Tank host.