Daymond John Net Worth $300 million
Daymond John salary $20,000,000
Daymond John Net Worth: How rich is Daymond John? & How much money is Daymond John worth? Time to find out!
Daymond John is an American businessman, investor, television personality, author and motivational speaker and his current net worth is $300 million.
Raised in Queens’ neighborhood of Hollis as the only child by his mother and grandfather, he now lives in New York City.
The American businessman attended Bayside High School. Among his first jobs included handing out flyers and waiting tables at Red Lobster.
While in high school, he used to participate in a program that let him work a full-time job and attend school on the alternating weekly basis. He says that this is what developed in him the entrepreneurial spirit.
Upon graduation from high school, he established a commuter van service.
When he got the idea of a clothing company for young men, he learned from his mother how to sew. His mother supported him and allowed him to use her house to grow up the business.
It all started when John passed by a shop that sold wool ski hats and noticed that the $20 price tag is kind of overpriced.
Along with his next-door neighbor he sewed around 90 hats and sold them for $10 each in front of the New York Coliseum. That they, they made $800.
After the success of the hats, they started selling screen-printed T-shirts. To establish the company on the market they sold on consignment and at large events around town.
Even though he made good money from his business, he still kept the full-time job at Red Lobster, working on the FUBU business in between shifts.
Because the company showed a lot of potential his mother put a mortgage on the house for $100,000 to generate start-up capital.
Along his neighbor, he recruited longtime friends J. Alexander Martin and Keith Perrin into the business. The team started making the FUBU logo onto hockey jerseys, sweatshirts, and T-shirts.
For the following two years they loaned about ten of the hockey jerseys with the FUBU logo to rappers for their music videos.
Although the company was a relatively small one, stores have already started requesting their brand.
Daymond then convinced rapper LL Cool J, an old neighborhood friend, to wear a FUBU T-shirt for a promotional campaign.
While filming the 30-second advertising spot for The Gap, the rapper wore a FUBU hat in the commercial. He even said the line “for us, by us” in his rapping.
Today, the brand is worth $6 billion, because it all paid off.
FUBU is now part of the Smithsonian’s National Museum of African-American History and Culture.
Since 2009, Daymond has joined the cast of Shark Tank, a show in which he and four other business executives listen to business pitches from various people, and decide whether or not to invest their money in the projects presented.
For his performance in Shark Tank, in 2016, Daymond has won an Emmy Award, as well as an Outstanding Reality Program from 2012-2014.
Today he works with brands and celebrities to create additional revenue streams and brand extensions. Some of his clients include Pitbull and the Miss Universe Organization.
He is also a brand ambassador for the e-commerce company Shopify as well as regularly promoting his favorite fashion and clothing items on his Daymond John profile.
FUBU has received attention from the sports and entertainment industry, and has been worn or endorsed by LL Cool J, Janet Jackson, Will Smith, Mary J. Blige, Busta Rhymes, Magic Johnson, Lennox Lewis, and Whitney Houston.
Apart from his business ventures he is also an author of three books, as well as one of the top 10 most booked speakers.