Daymond John net worth estimated at £186.5 million ($250 million) as of 2017…fashion industry pioneer and entrepreneur and Shark Tank shark…
This article is about Daymond John net worth, CEO and founder of FUBU and seasoned shark on Emmy award winning Shark Tank show.
This larger than life and inspirational entrepreneur started out broke. He borrowed against his mums home home in New York and turned his co-founded business into an American Dream.
But he even talks about how he learned when he was big too, at a time when he had the most money. He explains that you need to start off small: Sell one; sell two; sell; sell 40; sell 1,000 and so on…start to learn that.
Daymond John’s advice to avoid his biggest mistake: “It doesn’t matter how big you make something, if your stuff is crap when it’s small, it’s going to be crap when it’s big, and you gonna lose all your money.”
He has put his huge net worth to work by investing as a shark on Shark Tank and turned his split from his wife to good cause through giving back.
Why write about Daymond John net worth?
The are a few reasons for my article on Daymond John, which include…
- He’s a shark investor on Shark Tank, which is like Dragons Den and a favourite of mine.
- He’s a successful entrepreneur and I love to research and write about success.
- A fellow author, so he has an extra interest and fascination for me.
Main sections of this article on Daymond John net worth are:
- Daymond John early life before he became a wealthy entrepreneur
- He becomes Global Ambassador of Entrepreneurship
- Daymond John net worth
- Daymond John companies
- A Shark Tank entrepreneur
- Daymond John’s five ingredients to living a successful life
- New York Times best-selling author for his 2016 book
- Daymond John thyroid cancer survivor
- Daymond John motivational quotes
- Discover your ‘WHY’ from Daymond John’s view point
Daymond John early life before he became a wealthy entrepreneur…
Daymond John was born in Brooklyn, but brought up in neighbouring and easternmost area of New York Queens. John was an only child and was raised by his mum and grandfather, as his father left the family when he was 10 years old.
His mother was a hustler and held down two to three jobs to try an make ends meet. But even with her working so hard things were tough for the John family. They struggled to meet their home running costs and many times in the winter couldn’t afford to heat the house.
Daymond John was inspired originally by Hip-hop music, but couldn’t sing. So he did the next best thing and dressed the community instead.
“Money is not success. Money just drives your problems in a Bugatti.” Daymond John quoted on CNBC.
Daymond John and Wife split…
Daymond John and wife split as he was so engrossed in his business that he neglected her and his children.
In the same CNBC article noted above, he’s quoted as saying “She took everything from me…and it wasn’t one cent. She took her love and my two little girls away from me.”
An experience to which I can relate, as this also happened to me. For the same reason too, whereby I was engrossed in my business.
Fortunately for Daymond John and his children, his wife relented. She made a deal with John, and allowed him to see his two girls. But the deal to see his children was so long as he would “Pay it Forward.”
This deal with his wife led to greater things from Daymond John…
Daymond John becomes Global Ambassador of Entrepreneurship…
As a part of Entrepreneurship, Daymond John’s PAGE Signature Initiative is described as “Working with under-served entrepreneurs and emerging digital influencers to help them develop customer bases, brands, and new business models that can turn home-grown operations into successful businesses.”
John joins other leaders like the most influential Jazz artist Quincy Jones, Entrepreneurial Ambassadors like Spanx Founder Sara Blakely and co-founder and CEO of Airbnb Brian Chesky.
Now John describes wealth and success in a completely different light…”I am rich because I have my health.”
Daymond John net worth…
Daymond John’s net worth is estimated at £186.6 million (USD $250 million). He’s made his fortune from the fashion industry with his business FUBU.
After creating a huge net worth from his fashion business, he has been able to invest his money in businesses as a shark on Shark Tank.
The Daymond John companies…
One of Daymond John companies include his billion dollar company FUBU.
Daymond John FUBU…from £75,000 (USD $100,000) to an American billion dollar business empire…
Daymond John’s clothing brand FUBU is an extremely successful sportswear business, which all began in Daymond John’s house in Queens.
The business started out by making a few hats with his closest friends. It was after borrowing £75k (USD $100k), which was secured against his mums home, and by turning half of their house into a factory to make tie-top hats that his fortunes turned.
However, this was only after he’d been to 27 banks beforehand and been rejected every time. He had his biggest order to date £224,000 (USD $300k), but this didn’t sway the banks.
What is referred to as “Team FUBU” is John, together with his friends Keith Perrin, J. Alexander Martin and Carl Brown. Team FUBU worked together to create a business with revenues of £4.477 million ($6 billion).
Daymond John Shark Tank entrepreneur…
Daymond John with fellow Sharks: from left to right Robert Herjavec, himself, Lori Greiner, Kevin O’Leary, Mark Cuban and Barbara Corcoran. Also noting that Shark Tank has moved to Sunday night…
Daymond John from Shark Tank is in his ninth season on the three-time Emmy award-winning show. His biography page on Shark Tank includes his historic trip to Cuba with President Obama. He also joined Obama at the Global Entrepreneur Summit in Kenya too.
He joins fellow sharks property guru Barbara Corcoran, Dallas Mavericks owner Mark Cuban, successful inventor and business woman Lori Greiner, technology giant Robert Herjavec and software king Kevin O’Leary.
In an interview on CNBC John explains that in conversations with other successful entrepreneurs, they all believe the same thing…”You should put skin in the game yourself before you ask anybody else to help you.”
Daymond John Shark Tank Investments…
Daymond John joined Shark Tank in 2009 and invests alongside fellow sharks in the tank.
A few of his most successful Shark Tank investments include Bubba’s Q…
Bubba’s Q Shark Tank Investment…
Bubba’s Q is a barbecue business which was presented to the sharks by Al “Bubba” Baker at a time when annual sales were around £115,000 (USD $154,000).
The final deal struck with Daymond John and Baker was £223,800 (USD $300,000) for a 15% stake in the business. However,in a recent interview with Daymond with CNBC the sales of this barbecue business rocketed to nearly £12 million (USD $16 million).
This shark-invested business took a jump in revenues when a deal was struck with CKE Restaurants, when they offered Bubba’s sandwich in over 3,000 of its franchise locations.
Another very successful Shark Tank investment where Damond John has invested his wealth is in Mission Belt…
Mission Belt Shark Tank investment…
Mission Belt make ratchet belts and Daymond John invested £37k (USD $50k) for a 37.5% stake in the business. The most recent revenue figures for this hugely successful business were £6.1 million (USD $8.2 million).
The other benefit created through Daymond’s investment in this business, which is run by entrepreneurs Nate and Zac Holzapfel, is through its philanthropic cause. Since his Shark Tank investment the business has lent over 1.1 million (USD $1.5 million) to small businesses in developing countries.
Shark Tank guest sharks…Richard Branson…
On Sunday 1 October 2017 the new series of Shark Tank hits off with guest shark Sir Richard Branson. The billionaire entrepreneur joins the other seasoned shark investors on the show.
Below is Daymond John sharing a photo shot of him with Sir Richard Branson standing behind fellow sharks Mark Cuban, Lori Greiner and Robert Herjavec.
Daymond John’s five ingredients to living a successful life…
Daymond John provides the five ingredients for living a successful life, which are…
- Set a goal…if you don’t know where you are going, you will never get there.
- Do your homework…put skin in the game before you ask others for help.
- You have to love what you do.
- You are the brand…go home and describe yourself in two to five words…if you don’t know who you are when you walk into a room neither will anyone else.
- Keep swimming…you’re gonna succeed or you’re gonna fail, but most likely you’re gonna fail, then you’ll be able to re-focus to get you closer to that goal.
New York Times best-selling author for his 2016 book…
Daymond John’s book “The Power of Broke” became an instant New York Times best-selling book. Daymond John’s book is described: “How empty pockets, a tight budget, and a hunger for success can become your greatest competitive advantage.”
This book is targeted at those entrepreneurs who want to start a business on a limited budget.
In his book ‘The Power of Broke’ John talks about “When your back is up against the wall, your bank account is empty, and creativity and passion are the only resources you can afford, success is your only option.”
His book is about entrepreneurs taking their biggest weaknesses and turning them into their greatest strengths. When you’re broke and the bank account is empty, you have to become more creative. You have no option but to. Daymond John puts it like this: “It forces you to be true to yourself, stay laser-focused on your goals, and come up with those innovative solutions required to make a meaningful mark.”
Daymond John thyroid cancer survivor…
A disease I know only too well…cancer. Daymond John revealed in May 2017 on Good Morning America that he had been diagnosed with thyroid cancer in 2016.
Luckily for him after an extensive physical examination, doctors found a nodule on his thyroid at an early stage of the dicease. The stage II cancer was removed and all is well for the entrepreneur.
He managed to keep a positive outlook throughout the cancer treatment and was able to still attend all his schedule appearances, saying “I didn’t skip a beat.”
The reason he shared his meeting with cancer was to encourage others to not stick their heads in the sand. The result might have been a whole lot different for Daymond if his cancer hadn’t been found as early as it was.
Daymond John motivational quotes…
As with all the successful entrepreneurs I write about on my business blog, I love to find their motivational quotes. So here are a few Daymond John motivational quotes:
“The only thing more expensive than education is ignorance.” Daymond John.
Another Daymond John quote he shared on his Instagram account for a bit of #MondayMotivation:
“Never listen to those who don’t value you.”
A Daymond John quote for those would-be entrepreneurs worried about the competition:
“Just because someone is already doing something, it doesn’t mean you can’t do it better.” Daymond John.
“If you’re not living your dream, then you’re sleeping too much.”
Discover your ‘WHY’ from Daymond John’s view point…
Daymond John asks: “What’s your ‘WHY?‘” Having just written a long article about employee retention strategies and made reference to Simon Sinek’s ‘Start With Why‘, I came across Daymond John’s video on ‘Discover your “WHY.”
It took Daymond John many years to realise what his “WHY” was. He puts this as the possible reason for his first two business failures.
He doesn’t want you to fail like he did, so he urges you to dig deep and discover your “WHY” now. Do this before you start out in business, as this will ensure greater success, as you must love what you do.
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