Daymond John Net Worth - Pulptastic

July 09, 2024

What is Daymond John’s net worth?

Daymond John, the American businessman, fashion designer, author and television personality, has a net worth of $350 million. He earned his fortune as the founder, former CEO, and president of FUBU, an urban clothing brand, as an investor, and as a TV host on Shark Tank.

Early Life and Work

Daymond Garfield John was born in Brooklyn, New York on February 23, 1969, and grew up in Queens. His parents divorced when he was 10 years old, and he began working to help support his family. He started with a job handing out flyers, earning $2 per hour. In high school, he participated in a work program that allowed him to hold a full-time job and complete his schoolwork on an alternate schedule. After graduation, he worked as a waiter at Red Lobster and started a commuter van service.

How FUBU Became a Multi-Billion Dollar Clothing Brand

John started FUBU, a clothing company geared toward young, male, urban customers, at his mother’s house in Queens. His mother mortgaged her house in order to raise $100,000 worth of startup capital. John continued to work a full-time job at Red Lobster while growing his business. Their first project was sewing knock-off wool ski hats, which they sold for $10 each and made $800 in one day. They then began to design hockey jerseys, sweatshirts, and T-shirts with the FUBU logo, loaning some of the clothing items to rappers for their music videos with the goal of an endorsement. In 1993, LL Cool J wore a FUBU T-shirt for a promo campaign and a FUBU hat in a commercial for The Gap, instantly boosting their popularity and brand name. FUBU was generating more than $350 million a year in revenue within six years of being founded and has since earned more than $6 billion in worldwide sales.

Daymond John’s Career Highlights

Daymond John is a judge on the television series “Shark Tank” and has invested over $8.5 million of his own money in businesses on the show. He is also an author of several books, including “The Power of Broke” and “Rise & Grind.” John is the CEO of The Shark Group, a consulting and brand management firm, and is a brand ambassador for Shopify. He co-founded Daymond John’s Success Formula, which works with Network for Teaching Entrepreneurship to offer scholarships to aspiring entrepreneurs. John also runs an online training program for entrepreneurs called “Daymond on Demand.”

Accomplishments

John was appointed as an ambassador to promote underserved entrepreneurs by President Obama in 2015. His books have been featured on the New York Times and Wall Street Journal bestseller lists, with The Power of Broke receiving an NAACP Image Award. FUBU, his clothing brand, is displayed at the Smithsonian’s National Museum of African-American History and Culture. John has been named an NAACP Entrepreneur of the Year, Ernst & Young’s New York Entrepreneur of the Year, and has received two Congressional Achievement Awards for Entrepreneurship. He has also won Primetime Emmy Awards for Outstanding Structured Reality Program in 2014, 2015, 2016, and 2017 for his work on “Shark Tank.”

John’s Family and Health

John has two daughters, Destiny and Yasmeen, from his first marriage. In 2018, he married Heather Taras, and they have a daughter together, Minka Jagger.

John is dyslexic and was diagnosed with stage II thyroid cancer in April 2017. However, the tumor was successfully removed through surgery.