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Daymond John Net Worth

Daymond John’s Life Story: From Growing Up in Queens to Making Millions

Entrepreneur Daymond John is a black businessman and the founder of FUBU—For Us, By Us—a multimillion-dollar clothing firm that designs and manufactures urban hip-hop apparel for men and women. In 2009, he gained public attention when he debuted on ABC’s Shark Tank as an investor. He is one of five investors on the show who help entrepreneurs build their businesses and make deals with them.

In this piece, we’ll take a look at everything there is to know about Daymond John—including his family and career. So, let’s dive right in!

Early Childhood

Born on February 23, 1969, in Brooklyn to Christian parents, Daymond John spent most of his boyhood growing up in a lower-middle-class neighborhood of Queens called Hollis.

When John was ten, his parents divorced. His father left, and John became the man of the house; his mother remained a single parent after that. John attended Catholic school for seven years before going on to Bayside High School under a special program that allowed him, as he had dyslexia, to attend high school and work simultaneously.

Early Career

Daymond John began a lifetime of work at six by selling pencils in school and shoveling snow during the winter. By fall, he was raking leaves to earn money for his family. When John was 10, he used to wire abandoned buildings in the Bronx for PX cable as an apprentice electrician.

John began his entrepreneurial career in high school when he started a local transport business. Later, he worked as a waiter at Red Lobster before beginning to sell clothing with no prior experience designing or selling clothes.

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Foundation of FUBU

FUBU was launched at the home of Daymond John’s mother in Queens, where she taught him how to sew so that he could create a clothing line for men.

He noticed that a fishing line attached to the tip of a wool ski hat was in fashion then, so he made his version with help from his neighbor (who had experience working as a tailor).

In 1989, at 20, Daymond John started his apparel company by selling hats on a street corner in Queens. In less than two hours, he sold more than $800 in handmade knit caps that resembled urban fashion.

John mortgaged his and his mother’s home for $0.1 million to launch his idea to raise startup funding. He and his friends sewed the FUBU logo onto hockey apparel to promote their clothing line. For two years, rappers wore their hockey jerseys in their music videos. The result was product placement in almost 30 rap songs—so many that stores began seeking out the clothing line even though it had no physical locations.

In 1993, after insisting on it, Daymond’s neighbor and fellow rapper LL Cool wore a FUBU-branded shirt in one of the latter’s promotional videos. Later that year, when shooting another commercial with The Gap, LL Cool J used the words “for us by us” in a rap song on camera.

In 1992 or 1994, John took out another mortgage on his mother’s house to complete the orders he had received for $300,000 worth of merchandise. Following 27 rejections by banks, his mother placed an ad in the New York Times to raise funds. The striking success of the advertisement led FUBU to sign a contract with Samsung Textiles so that orders could be filled and production completed.

Despite selling more than $6 billion worth of clothing and having recently approached the $7-8 billion sales mark, it was challenging for Daymond John to develop his line from a single sewing machine in Queens into such a successful business.

Shark Tank and The Shark Group

Mark Burnett invited John to compete on ABC’s popular television show Shark Tank in 2009. The program allows entrepreneurs to pitch their ideas and, in some instances, earn investments from the “Sharks” to obtain funding for expansion or survival. As of May 12, 2017, John’s venture capital business had invested $8.567 million in Shark Tank firms.

In addition, John is the head of The Shark Group, a Manhattan-based company specializing in brand management and consulting.

Other career achievements

  • John’s career gradually shifted towards public speaking and brand ambassadorship. He now serves as a spokesperson for Shopify.
  • In 2015, businessman Daymond John launched the Success Formula course. The program guides entrepreneurs seeking to start or grow their organizations but was renamed Next Level Success in 2019.
  • In 2021, he reached an agreement with Audible.

Publications

Daymond John has so far released five books:

  1. Display of Power: How Fubu Changed a World of Fashion, Branding, and Lifestyle
  1. Powershift: Transform Any Situation, Close Any Deal, and Achieve Any Outcome
  1. The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage
  1. The Brand Within The Power of Branding from Birth to the Boardroom
  1. Rise and Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life.

Family Life

Though private, it is known Daymond John previously married and fathered two daughters, Yasmeen and Destiny.

In September 2016, John proposed to Tara on stage before the Sharks—with a stunning 95-carat emerald-cut diamond ring that he had designed especially for her. They have one child together: Minks Jagger John.

In 2017, Daymond underwent stage II thyroid cancer surgery and has since been cancer-free.

Height

Daymond John stands at about 1.69 meters (5 ft 6 in), a height slightly less than the typical American male’s of 5 ft 10 inches—but one that suits his 75 kilograms perfectly.

Awards and Recognitions

John has earned many accolades and awards, including but not limited to the title Marketer and Entrepreneur of the Year. Five publications in prestigious outlets earned Daymond John status as a best-selling author.

In 2015, Daymond was appointed as the ambassador for entrepreneurship among underserved communities by President Barack Obama.

In 2021, Daymond John hosted a Black Entrepreneurs Day show, which provided much-needed financial support to black-owned businesses. As part of the event, 10 inspiring entrepreneurs were awarded a total of $250,000 in NAACP Powershift Grants. This funding was aimed at empowering and uplifting black businesses across the United States, highlighting the important role that black entrepreneurs play in driving innovation and growth in the economy.

Television and Film Appearance

  • The Crow: Wicked Prayer
  • Shark Tank
  • The Real
  • The Game
  • Sharknado 2: The Second One
  • What Would You Do?
  • To Tell the Truth
  • The $100,000 Pyramid
  • Dr. Ken
  • All About the Washingtons
  • Billions, Season 5, Episode 4
  • The Masked Singer

Networth

Daymond John, a well-known black entrepreneur and speaker with a thriving career, has an estimated net worth of $350 million. His work as an author, public speaker, entrepreneur, and television personality has made him successful in all fields.

Famous advice and tips

You do not need money. You don’t need contacts to be successful. You need to tap into a market and find a following. With a good idea, passion, and a committed work ethic, you can succeed even without financial resources.

Tell us a story. Make us feel like, no matter what, this train will leave the station. You want us on the train, but you’re not going to stop no matter what – and [by not investing] we’re missing out on something.

It depends on where you are. Are you working a day job and, at night, fiddling around and starting to get your feet wet? But if you’re going to burn all the bridges and move into your business, six months [of capital] is the least you should have.

Conclusion

If you want to be inspired by a man who has made it in the business world, look no further than Daymond John.

His life story is impressive, and he has repeatedly proven willing to take risks and make sacrifices to reach his goals. He’s also proof that it doesn’t matter where you start—you can always rise from whatever your circumstances.

If you want to be successful like Daymond John, you should follow your dreams and work hard every day—and don’t forget that your family and friends are the people who will support you along the way!

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