How much is Daymond John worth?
|Net Worth:||$330 Million|
|Date of Birth:||February 23, 1969|
|Country:||United States of America|
Who Is Daymond John
A fashion icon and serial entrepreneur, Daymond John is also an author, investor, and TV personality who was born on February 23, 1969 in Brooklyn, New York. He is the founder and CEO of FUBU hip hop apparel, a motivational speaker and Shark Tank judge.
Daymond John had an entrepreneurial spirit at a very young age. John began serving customers as a first grader when he sold pencils to classmates at school. He realized that many of the girls were fond of having pencils with their names on them. Daymond took orders from the girls and sold them the pencils for a profit.
The grade school business venture would prove to be a sign of bigger things to come. John started working in the fifth grade to help support the household after his parents divorced. One of his first jobs was handing out flyers for neighborhood businesses for two dollars an hour.
Growing up in Queens, New York, Daymond John had a fascination with hip hop and it’s culture. He struggled with what he wanted to do in life for the duration of his teenage years. While he was unsure of his career path, he knew he wanted to serve the hip hop crowd.
We calculate Daymond John has a net worth of about $330 million dollars, as of 2020.
How did Daymond John get so rich?
Daymond John had an idea for a clothing line that would appeal to hip hop culture and the urban community. He drew inspiration from the urban clothing line “Cross Colours” in the early ’90s for the idea.
In 1992, Daymond started FUBU with forty dollars at his mom’s house using her sewing machines. A particular type of wool ski hat was all the rage at the time.
John partnered with his next-door neighbor to sew and produce 90 of the popular hats and sold them on a busy street corner. These hats were selling for $20 retail. However, John was able to make profits from the homemade hats thanks to low overhead. All of the hats were sold in one day and Daymond made $800 from them.
With FUBU picking up steam and growing in demand, Daymond John’s mother recognized it’s big money-making potential. Daymond and his mother came to an agreement to mortgage the house for $100k and use the money to launch the company.
John then had FUBU tee shirts, hockey jerseys, and hats produced. With the bright idea of giving apparel out to rappers to wear in their music videos the brand soon exploded in popularity. FUBU was positioned perfectly as the it brand for rappers and hip hop artists, as well as their millions of followers. Before long FUBU took off going mainstream and doing over $6 billion in sales globally.
Why is he so famous?
Becoming famous on a worldwide level was made possible by Daymond John’s role on ABC’s hit show “Shark Tank”. The reality show feature’s a collection of business moguls as investors who listen to entrepreneur’s sales pitches. The “Sharks”, choose whether or not to make offers to people based on presentation and sales projections.
Daymond John is a savvy businessman who also has a colorful personality suited for prime time television. With an excellent sense of humor, John engages in funny banter on the show with the other sharks. He makes his presence felt as an investor too. As of 2017, Daymond has invested over $8 million in Shark Tank companies.
Shark Tank has enjoyed so much success that it has been on the air for 11 seasons. The show that Daymond John helped make so popular has won four Emmy’s. John’s ability to distinguish which of the entrepreneurs provide the best business opportunities demonstrated his expertise early on, accelerating his fame.
By helping companies, as well as aspiring and experienced entrepreneurs, grow their businesses, Daymond promotes wealth and brand building. People gravitate to individuals that aid in the changing and improvement of their lives. John’s involvement in creating more jobs for others makes a positive impact and also contributes to his fame.
In addition to his role on Shark Tank, Daymond John is very famous for his other activities. Many people know him as the creator of FUBU. Also, John has written several best selling self-improvement books. Powershift, Rise And Grind, The Power of Broke, The Brand Within, and Display of Power are the titles of his best sellers. His motivational speaking appearances and gigs only add to his fame.
What makes him so successful?
There are many reasons, traits, and characteristics that make Daymond John successful. John’s drive, street smarts, eye for fashion, entrepreneurial spirit, and industry knowledge have been crucial to his success. His continual new business dealings, on and off the show, make him an ever more seasoned entrepreneur, poised for his next once in a lifetime deal.
Daymond John also has the invaluable skill of scaling a business and it’s profits. While FUBU is what most people associate first with Daymond John, his Shark Tank endeavors are also key to his success. As John helps turn small and eager companies into gigantic corporations, his net worth skyrockets and so does his popularity. He serves to encourage millions of Americans and people from around the globe start and grow small businesses. He also has particular influence among the African American community.
Every time John spots a lucrative new invention or business opportunity on Shark Tank he battles to secure a deal. Some of Daymond John’s most significant business investments from the show include “Bubba Baker’s Boneless Ribs” and “Bombas Socks”.
John’s authority and investment savvy helped Bubba Baker’s Boneless Ribs go from $154k in sales to $16 million in just three years. Serving as a venture capitalist, not just an investor, Daymond John rolls up his sleeves and guides the businesses he invests in to success. His marketing expertise, relationship’s with retail chains, and knowledge on patents are all helpful to new companies looking to grow.
As all of this has been important to him becoming rich and famous, yet there could be a more significant reason to acknowledge. I credit the support and belief in his dreams John received from his mom at an early age as a major contributing factor. Most young people are told by their parents they have to earn degrees and work for an employer. The fact that his mother supported his business aspirations 100 percent is extraordinary. She put up her house in the belief in her son and it has certainly paid dividends for her.
If you are an aspiring entrepreneur, then you can learn a lot from Daymond John. Any business-minded professional should be able to appreciate his contributions. Between FUBU, Shark Tank, best-selling books, and investment prowess, John is an entrepreneurial tycoon.
It’s challenging to find many failures in Daymond John’s rise to fame and fortune story. However, you can rest assured, any successful entrepreneur overcame multiple obstacles before succeeding.
Daymond John is a fashion icon who has had a massive impact on his industry. With more successful ventures surely to come, John will only expand his empire more. His career is an intriguing one without a doubt, and, Daymond John’s net worth of $330 million, proves his success in business.