Daymond Johns is an American Businessman, NY best-seller author, investor, CEO, Ambassador Public speaker, and the famous reality
show “Shark Tank” personality. By the way, he’s known as a “public shark”.
But how much is this shark worth right? In 2023 Daymond John’s net worth was an estimated $350 Million…As his yearly salary is $20,000,000, according to
Alux.com we can roughly say in 2024 he is worth $370-380 Million.
Now you must be wondering what magical wand he used to become rich.
Did you know once John was so broke that he couldn’t even afford a TV cable? Now you must be wondering. if he was that poor then how the he!! he got so much wealthy and ended up becoming a Shark.
Well, good question. But to know the answer we have to know the story of Mr. John. Hold my hand tight we are about to jump into portal 1969 are you ready?
The Humble Beginning.
Daymond Garfield John was welcomed into the family on February 23, 1969, in Brooklyn New York at the time his mother was a housewife, and his father of computer
programmer. (when computers were at the size of the room)
But they had to move from there to Queen’s neighborhood, Hollis.
why? As you know in the past there were black-and-white community issues… From an early age, John got that entrepreneurial bug…when he was in school he would scrap the paint-off pencils and draw the prettiest girls’ names in class on them and sell them for a fee.
That was until the principal found out that he would steal pencils from boys whom he hated in class. (naughty little john) Getting into high school John had very
difficulty in reading and writing, only to be diagnosed with dyslexia.
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John’s parents got divorced in 1979 when he was just 10…Then He lived with his mother. At a young age, he realized he had to become the man of the house.
“We went from middle class to poor. I become the man of the house and start working at the age” John told Business Insider. John’s first job was handing out flyers for $2 per hour, ($8 today). He then participated in a catholic school program which allowed him to work full-time and take classes every week.
John’s first job was handing out flyers for $2 per hour, ($8 today). He then participated in a catholic school program which allowed him to work full-time and take classes every week. After high school, Daymond John didn’t go to college instead went straight to business and started a commuter van service as the pay wasn’t enough for the bills.
“John I remember when we could not turn on the heat during winter” Later, he started work at Red Lobster Restaurant as a table waiter… His mother was also working 2-3 jobs at a time. she was very hard-working and always working said John. Business insiders she was a hustler John looked at her as an
inspiration.
When John was 16 his mother had a boyfriend an attorney whom he considers a mentor who taught him much about life and people. years passed…! At this time He didn’t know what to do but still working and hustling every day… Mr. John also tried flipping some cars.
But failed…
His mother told him. “Listen you’re going to have to figure out what you’re doing the rest of your life, one way or another “At the same time, hip-hop music was
taking the world by storm. “There was something about this music, “he said,” I could feel it, smell it— taste it, it talked about our struggles, dreams, and aspirations,” John said according to Dailytargum.
Growing up in the same neighborhood where Russell Simmons, LL Cool J, and Salt-N-Pepa lived. Whenever they had a huge party concert or festival Jhon would also go there. and see their limos. He would watch these rich Rappers singing dancing and partying that’s where a burning desire to become Rich like them took birth in
him. The moment he saw RUN-D.M.C step on stage, John’s life “turned into technicolor.”
“I set a goal that no matter what, I was going to live, die, and prosper in hip-hop,” John said.
Starting a billion-dollar Business.
But Deymond Jhon couldn’t sing, dance, or produce like them so he decided why not dress the artists? He realized hip-hop had no real niche fashion market. One day he noticed in the streets of Hollis, neighborhood, that wool ski hats were selling at a price tag of $20 which was overpriced but still people were buying.
“I thought I could make them and sell them for less,” John said in an interview with washingtonpost.com.
He immediately bought cheap fabric and told his mother about it. she taught him how to sew wool hats. He sewed 80 of them with his next-door neighbor and childhood friend Carlton brown and sold them all in 1 hour by standing outside of the local mall. Each for $10 which made him $800. John explained.
In a podcast with James Altucher.
James Altucher asked John, Did you go back the next day and sew more? “No, I went back the next hour and sewed more,. ” jhons said.” Everything was going well…sales were increasing and so the production Jhon and Carlton brought their friend J.Alexander Martin and Keith Perrin on the journey too…
But something was missing!!!
The business name! jhon and his friends in the basement while enjoying a drink decided it should be called FUBU’ For US, By US’ The mission of the business was to sell clothing made by people who wear it. Looking at her son’s passion, work ethic, and scrappy attitude, John’s mom decided to mortgage her home for $100,000 to fund his business. He needed capital to keep going.
The next project was screen-printed t-shirts along with hats with the logo Fubu on them. They sold t-shirts at big events in the neighborhood. At this time still, he was
working at Red Lobsters and also doing delivery with his van. He says the day job provided security in case FUBU dipped.
“I would come home at night, sew shirts, wake up in the morning and deliver the shirts, then go back to Red Lobster, because I had to pay the bills, but I also wanted to chase this dream, so I had to give up every single thing for it.”
John told CNN Business
As the business was making cash flow, they started adding more products. Eventually taking some of that to stores and giving it to them on consignment.” But it was hard to make it at the rooftop scale so they had to do something… which John did by using his and his friend’s network. They took some of the amazing shirts and
loaned them to hip-hop artists, stars, and rappers pushing the product as a marketing technique.
which ended up with product placement in 30 successful videos…In 2 years their shirts were all over the network all these rappers were wearing their shirts (the same shirt) They used it again and again, and no one realised it.
John and his friends also went to LL Cool J’s house and asked him for advice on getting a famous spokesperson. LL Cool J told them they should stalk the celebrities they wanted as spokespeople. “A no was an absolute maybe”
They noticed a black limo pulling up to take LL “to big time” for a new reality show he was set to star in. Jhon begged LL to allow him to take a photo of him wearing one of FUBU’s shirts before going after trying so hard LL J agreed to the photo which Jhon then used in marketing. Once the videos started coming out their sales went up. They started to leverage credit cards and everything they had to be up on demand.
Now Deymond was fully focused on his business and left the day job. But something happened that skyrocketed their business. Jhon mentioned in an interview with the Washington Post that “Until the Magic Show” in 1994 they went to a ” Magic” convention out in Las Vegas and came home with about $300,000 in orders from retailers.
They didn’t have enough capital to make that much none of them didn’t knew about venture capital or angel investors… also they got turned by 26 banks. So they decided to take a second mortgage on his mother’s house…As John started working from the age of 10, he had always contributed–and that was about $120,000.
They transformed the house into a mini factory and started manufacturing their clothes there. “We converted the living room and put eight sewing machines there and we hired some seamstresses. In the dining room, we put a cutting table where we cut all the fabrics.”Jhon said in an interview with Harrison
But that was until this happened. Well, we ran out of money. Raymond said They had only $500 left out of $120,000 and that wasn’t because of anything spent on lavish, but they just didn’t have financial intelligence back then. “We were basically out of money, we considered shutting it all down”… said by jhon
Then what saved them? They use what they have and run out an ad in the New York Times “A million dollars in orders need financing. Samsung Textile saw the ad and hopped on a call with them…which ended up a distribution deal with them. “They were my version of a shark that came in with the financing,” They provided industry knowledge, the back office, and pushed everything on a global scale.
Moved the production out of house-made it overseas and produced goods much faster. Then within 6 years, FUBU was making $350 Million in annual revenue…When Daymond John made his first million he said… “When I made my first million, I realized how poor I was, It takes about a million to get you out of debt.” Today according to Forbes FUBU has done over $6 Billion in global sales.
Who the hell Would watch this show?
(The shark tank)
When the first time Daymond John was approached by Mark Burnet the producer of the show, in 2009…
to join the shark tank as a shark. John told Business Insider– “When I got the call it was a waste of my time. I was like this crappy show? Nobody will ever watch it. Who the hell is going to watch five business people talking?’”
John thought it was a risky investment at first but then as he says, he is a savvy investor, John took it as an opportunity. and he was right, It was an opportunity for him…The first season cost him about $750,000 of his own money, and his small loss makes millions of dollars in annual profit now. Daymond John along with other
sharks is paid $50,000 per episode. According to variety, The number is possibly higher today, as that info is not public yet.
Is Deymond not a good shark?
Well, that’s the situation of every figure. who’s done well on social media. some people say Daymond doesn’t provide value to the show, And his attitude toward new entrepreneurs is not good, But as I’ve seen he has done some really good job and still doing his best in my opinion. Everyone has their personal view BTW what do you think tell me in the comments.)
But wait, is he the richest shark?
Well, the answer is no, big no the richest shark title is held by Mark- Cuben owner of the Dallas Mavericks..
Is Daymond John’s Networth is billionaire in 2024?
John hasn’t made it to billionaire status yet. But it doesn’t mean he won’t be…in his 2018 book Rise and Grind, John says he’s never been busier or more ambitious than ever in his life. Mark Cuban is the billionaire shark. Forbes Real-Time Billionaires List.
How many businesses does Deymond John have?
Today, this business magnet is running three businesses of his own…
⦁ FUBU,
⦁ Brand management agency the Shark Group.
⦁ Co-working space blueprint +co
Other than that Daymond John has
invested millions of dollars in other
businesses through Shark Tank.
and also managing, and looking after it.
Some are…
Bombas: The socks company, John has invested $200,000 in a 17.5% stake. No. 1 the socks are amazing, they have no seams on the front so your toe doesn’t get jammed up,” John said on a podcast episode of The James Altucher Show. “No. 2 is they donate a pair to the homeless shelter, because the homeless, one of their biggest challenges [is] the care for their feet.”
John explained on a podcast with James Altucher that Another reason John was attracted to Bombas was that it was a direct-to-consumer model. According to CNBC Make It,
Bombas was making about $100 million a year in 2018. This marked a huge jump from $46.6 million in 2017 and a massive leap from $4.6 million in 2015. In 2024, Bombas’ annual revenue is not public but is estimated to be around $100 million, according to Market Realist.
John’s 17.5% stake would bring in $17.5 million in his bank… Mission Belt: A company that makes belts without holes i.e. ratchet belts Daymond John invested $50,000 for a 37.5% stake in the company. Bubba’s-q, Moki doorstep, and many more… Also… Daymond John has been a brand ambassador for Shopify since 2012. As you should know Daymond John is a public/motivational speaker now and charges $500 to $50,000.
He is in Hollywood too? yep, that’s right in 2005, Daymond John was the executive producer of the horror superhero film “The Crow: Wicked Prayer.
Does Deymond John have a mentorship program?
Yes, he does have, in 2015 Daymond John co-founded “Daymond John’s Success Formula”. Then it was renamed in 2019 to “Next Level Sucess”. which teaches useful business insights to entrepreneurs on how to start a business from scratch, and outstanding lessons on business-like Deymond’s brand FUBU.
Next Level Sucess” is a network of business-minded individuals… it also offers scholarships worth $1,500 to two aspiring entrepreneurs every year.
Does he Sell High-priced courses online?
In addition to his mentorship program, he also runs an online training “Deymond on Demand” online training for entrepreneurs… which some researchers consider too expensive.
Author of best-seller Even with Cancer?
You heard it right,… when John wants to do something he will do it, even if it’s writing a best seller’s book with thyroid cancer stage two but the early diagnosis made it possible to undergo a successful surgery Thank God. He was saved from cancer.
Books under his name.
⦁ Display of powers
⦁ The Brand Within
⦁ The power of Broke
⦁ Rise & Grind: outperform, outwork, and Outhustle your way to a more successful
⦁ Rewarding Life and Little Deymond Learns to Earn.
⦁ Powershift
⦁ Founding FUBU
How many awards he had?
In 2015, former president Barack Obama named Daymond John as the Presidential Ambassador for global entrepreneurship.
⦁ Primetime Emmy Award for the reality program “Shark Tank”
⦁ NAACP Image Award for his book Power of Broke
⦁ NAACP Entreperneur of the year.
⦁ Ernst & Young’s NY entrepreneur of the year
⦁ Congressional Achievement Award
Is Deymond John Married twice?
Yes, Mr. John’s first wife’s identity has been kept private but he had two daughters from his first marriage Destiny and Yasmeen John. Due to some personal issue, she
had to leave John… But he proposed to his longtime girlfriend Heather Taras, in 2018 on the shark tank stage… The couple had a baby girl then Minka Jagger,minka is John’s third child.
So What did you learn from Deymond John’s story? should I also tell you this? why not find it yourself.) I’ll just leave you with this leap from his book… The power of Broke- When your back is up against the wall and you have no other way to advance or create relationships and you can’t buy anybody — you can’t buy things to help you start to become creative, “When you become creative, that’s when you think outside the box — and that’s utilizing the power of broke.”