Daymond John—From Clothing Empire to Shark Tank Star

Daymond John is an entrepreneur, public speaker, and investor best known for playing a shark on ABC’s Shark Tank. He made his fortune by founding the hip-hop clothing brand FUBU. Daymond still serves as the CEO of FUBU while also running The Sharks. With a net worth of $350 million, Daymond John is the third richest shark.

Name:	Diamond Garfield John
net worth:	$350 million
Annual income:	Over $25 million
FUBU Valuation:	$30 million
wife:	Heather Taras

early life

Diamond was born in Brooklyn, New York. He was born on February 23, 1969, and spent most of his childhood in Queens. His parents divorced when he was ten, and he soon began working to help support his mother.

John attended a Catholic school in Queens in his early years. In high school, he participated in a program that allowed him to work long hours while attending school.

At 16, his mom got a new boyfriend. He was a lawyer and a mentor to the ambitious young Diamond. The aspiring entrepreneur made his first business venture right out of high school.

Founding of FUBU

While working as a waiter at Red Lobster, John co-founded clothing brand FUBU with Keith Perrin, Carlton Brown and J. Alexander Martin. His mother allowed him to use their house to make clothing and even taught him how to sew.

The young hustler started out making hats, and later moved on to T-shirts, sweatshirts, and sweatshirts. Diamond and his mother mortgaged their house to get the start-up capital and hired close friends to help. Sales increased significantly in 1993 after John convinced LL Cool J to wear a FUBU shirt.

After being turned down by all the banks she applied for loans, Diamond’s mother used the last of her money to place an ad in the New York Times. Eventually, they struck a deal with Samsung Textiles.

In 1998, FUBU’s sales peaked at $350 million, but since then, the apparel brand has gradually declined in popularity. According to Zoominfo.com, FUBU’s annual revenue is $7.6 million. Complex.com reported that FUBU’s decline was due to oversaturation of the product market.

Shark Tank

Daymond John was invited to join the main cast of ABC’s Shark Tank in 2009. He has been on the show since the first season and remains a key cast member.

As a Shark player, he didn’t make a ton of deals compared to Cuban, but his biggest trades included Bubba’s-Q boneless ribs, Bombas socks, Sun-Staches, Hells Bells helmets and garage door locks.

In May 2023, Diamond made headlines for filing a restraining order against three former contestants of Bubba’s-Q Boneless Ribs. Al Baker and his two partners accused John of depriving them of their profits and trying to take control of their company.

Other investments

With the success of the show, John started other business ventures. He founded the brand consultancy The Shark Group and published his first book, The Inner Brand. Diamond is now a sought-after motivational speaker, charging $50,000 to $100,000 for live events.

Net assets and earnings

Globally, his apparel company FUBU has grossed more than $6 billion in sales. During his time on Shark Tank, Daymond John invested about $8.5 million in more than 60 companies. Not all of his investments have worked out well, but he has had some huge gains.

His consulting firm is highly regarded in New York, and as a public speaker, he has signed contracts with Shopify and Audible as a brand ambassador. He has published a total of four books, adding to his $350 million fortune.

personal life

John was previously married to Margot John and has two daughters, Yasmine and Destiny. In 2018, he married entrepreneur Heather Taras and has a daughter, Minka Jagger. In 2016, the Shark Tank investor was diagnosed with thyroid cancer and beat the disease in 2017. This prompted him to live a healthier lifestyle.

Categories: Shark Tank
Source: dut.edu.vn