Daymond John is an American businessman, television personality, author, and fashion designer. He is best known as the founder of the clothing company FUBU, and for his appearances as an investor on the ABC reality television series Shark Tank.
A Brief Bio of Daymond John
John was born in Brooklyn, New York, the son of a single mother who worked as a flight attendant. He dropped out of high school to start his first business, a hip-hop apparel company called FUBU, after working his first job at Red Lobster. The company became successful, and by 1998 had grossed over $350 million in sales, and has over $6 billion in sales as of 2022.
In 2009, John began appearing as one of the “sharks” on Shark Tank, where he has invested in over 30 companies. He turned down the first two offers to join the television show, and the third time was a charm when he signed on to become one of the sharks. His most successful investments include Scrub Daddy, a sponge company that has made over $100 million in sales, and Bombas, a sock company that has donated over 10 million pairs of socks to people in need.
As of 2022, John’s net worth is estimated to be $350 million. He is a self-made millionaire through his two New York Times Best Selling books, motivational speaking, digital teaching, and mentoring sessions, sales of his products, and investing.
Though he is no longer part of the sharks on Shark Tank, he is still devoted to businesses and helping others achieve their dreams and goals in the world of business.
The Shark Tank Years
Shark Tank is an American reality television series that airs on ABC. The show features a panel of investors, called “sharks”, who listen to business presentations from contestants and decide whether or not to invest in their business.
Once they invest in the guests’ businesses, they take a percentage to raise the stakes of the company. They operate through business tactics they know and understand which have proven successful over the years. It can make or break the business owner, so they have to show drive and motivation.
The way it works is that a company owner goes before the investors or “sharks” and presents their product and tries to get the sharks to invest in their business to help them drive more sales. Not every shark will invest in an entrepreneur’s business. They take the cost of operation versus sales and profits to make their decision.
The entrepreneur makes the first offer after the presentation. The sharks will discuss all options with the business owner and counter offer, usually a higher percentage of the company. The entrepreneur has the final say if they wish to work with the shark while the offer is on the table. Many times, more than one shark is interested and the show gets interesting as they fight for the investment.
If an agreement is not made or all the sharks decline, the entrepreneur goes home. However, if the deal is made, the sharks will work to better the company through the management and raise the sales and profits for the entrepreneur. Both parties win if played right.
Daymond John is one of the original sharks on Shark Tank and has been appearing on the show since its inception in 2009. He has made over 30 investments on the show, with some of his most successful being Scrub Daddy and Bombas.
Some of John’s worst investments in Shark Tank include a company that made dog collars out of real diamonds and a company that sold chicken-based dog food.
In 2020, John announced that he was leaving Shark Tank to focus on his new role as CEO of Shark Brands, a holding company for his various business interests.
The Motivational Man
When it comes to business, Daymond John is known for his “hustle”. He is a self-made man who started with very little and built a successful fashion empire. He is also known for taking risks and being willing to fail in order to achieve success.
John’s best investments in Shark Tank include Scrub Daddy, a sponge company that has made over $100 million in sales, and Bombas, a sock company that has donated over 10 million pairs of socks to people in need.
When it comes to his personal life, John is married to Heather Taras and they have three children together. He is also an author and has written two books, “The Power of Broke” and “Rise and Grind.”
Today John is a motivational speaker, selling his books and showing people how to build businesses and how to invest their money to become successful.
He is an advocate for financial literacy and has spoken at many schools and colleges about the importance of money management. Perhaps we can say his best achievements are those where he takes people who want to learn and have the drive to become successful and turns them into successful businessmen and women.
An Investor with a Heart
When people think of the rich, they sometimes think of them as cold-hearted. For many, that is true, but not Daymond John. One example that sticks out in our minds is during season five of “Shark Tank”, John had the opportunity to invest and take part in a successful business started by 15-year-old Moziah Bridges.
Instead of taking a portion of the company, he was impressed with the teenager and the driven motivation, along with the product Mo’s Bows. He took the teen under his wings and mentored them to great success.
This story is only one of the many that show the heart behind the millionaire. Daymond on Daymond is one of the businesses he has that mentors people on how to become business owners. It is said, “When you have a gift, you should share it with others.” The inspiration and heart behind Daymond John show how much he cares about people and their success.