Daymond John, a Shark Tank investor, is a serial entrepreneur with a net worth of $350 million. The entrepreneur was reared in Queens, New York, by his single mother, and built a fortune as the founder of FUBU, which was synonymous with T-shirts, sweatshirts, hoodies, caps, denim, and footwear.
According to NBC News, hip-hop moguls such as P. Diddy, Nelly, and Jay-Z used John’s FUBU design to launch their own apparel line.
Aside from FUBU, John has built a reputation as a branding master, having worked with A-list musicians such as the Kardashians, rappers LL Cool J and Pit Bull, and boxer Lennox Lewis. President Barack Obama of the United States selected him as one of nine Presidential Ambassadors of Global Entrepreneurship in 2015.
Here are ten enterprises held by the serial entrepreneur that highlight his commercial expertise and his desire to produce multiple streams of income.
Daymond John is well-known for his innovative clothing and footwear line, FUBU, which is an abbreviation for “For Us By Us.” After popular businesses declined to sell to ethnic minorities, John and his three friends formed and targeted the African-American community.
From his mother’s house, John and his boyhood friends Keith Perrin, J. Alexander Martin, and Carl Brown founded FUBU. He later borrowed $100,000 from his mother’s three-story Queens, New York, house to invest in FUBU.
Celebrities such as Mary J. Blige, TLC, P. Diddy, LL Cool, and Beyonce have all worn FUBU to many gigs and award ceremonies, as well as print and television advertisements. According to reports, FUBU made $350 million in sales through various retail outlets before grossing $6 billion internationally.
Aside from FUBU, John has invested in a variety of portfolios totaling more than $8 million in startups that have participated on Shark Tank. He frequently invests in clothes and technology firms.
Bombas is regarded as one of his most successful Shark Tank ventures. According to sources, the investment has generated a total lifetime sales of $225 million. According to the South China Morning Post, his current investment is likewise worth $34 million.
Spikeball is another of John’s main investments. He spent $500,000 in Spikeball after hearing the owners’ proposal on Shark Tank and acquiring a 22 percent share in the unique ball game. Since then, the company has expanded to become a $100 million startup. His present share might be worth about $22 million.
Hells Bells Helmets
When the owners of Hells Bells Helmets appeared on Shark Tank, John jumped at the chance to invest. He made his largest initial investment by purchasing a 50% stake in the 3D helmet design firm. Today, the firm is worth $ 10 million, and his portion is worth close to $5 million.
Bubba’s Q BBQ
Bubba’s Q BBQ is a brand of boneless ribs prepared from scratch. He paid $300,000 for a 30% stake in the company. In 2017, the company grew and generated $16 million in revenue, while John’s stake in the company is now valued at around $4.8 million.
When the founders of Sun-Staches appeared on Shark Tank, their annual sales were $2.8 million. John invested $300,000 for a 20% stake in their eyeglasses company. The company reportedly made $4.1 million in sales four months following the investment. In addition, the company signed a licensing agreement with Marvel to produce character-themed sunglasses, which will undoubtedly increase their net sales.
AquaVault manufactures portable chargers and other travel necessities. He made a $75,000 initial investment and has grown the company to a $5 million valuation firm.
John owns 33% of the sports bra company Shefit. During the seventh season of Shark Tank, he obtained the shareholding. The company is estimated to be worth $13.8 million. Furthermore, his share is worth $4.5 million.
Virtual Pinball Machines (VPcabs)
The most costly retail product ever proposed on Shark Tank is Virtual Pinball Machines (VPcabs). VPcabs had barely $400,000 in lifetime sales prior to coming on the show. John decided to make a $200,000 offer in exchange for a 25% ownership in the company. Since then, the company’s sales have increased to $1 million.
GoGoGear is also one of John’s most significant investments. The firm is a trendy biker clothing line. He put up $300,000 in exchange for a 65 percent stake in the company. In 2021, the company generated $7.48 million in revenue, while John’s stake in the company increased to $4.8 million.