Daymond John is best known as the creator and CEO of the American apparel company ‘FUBU.’ He is also an investor, television personality, and author. In 2009, Daymond joined ABC’s ‘Shark Tank,’ where he invested effectively in a number of firms.
He’s also the best-selling author in the ‘New York Times,’ and has written four books. He also established the ‘Next Level Success’ business skills development program.
Early Life
John was born in Brooklyn on February 23, 1969, but grew up in Queens’ Hollis area and attended Catholic school for seven years. When his parents divorced, he started working at the age of ten; one of his first jobs was handing out brochures for $2 ($7.42 today).
He took part in a program in high school that allowed him to work full-time and go to school on a weekly basis, which he attributes to instilling an entrepreneurial attitude.
He founded a commuter van service and served tables at Red Lobster after graduating from high school. John’s mother had a partner when he was 16, a Jewish attorney whom he regarded as a stepfather and mentor.
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Personal Life
Daymond In his early twenties, John married his first wife and had two daughters with her. He was preoccupied with his business at the moment. As a result, his wife left him.
Finally, the marriage ended in divorce. Daymond Taras married Heather Taras in 2018. Minka Jagger was their daughter. Daymond was diagnosed with thyroid cancer in 2017. He had a successful operation after that and is now cancer-free.
Career
Daymond When his mother pushed him to start doing something important with his life, John learned to sew. Daymond saw some wool ski caps in the shop and thought they were outrageously pricey. He bought some cheap cloth and stitched roughly 80 wool caps, which he sold for $10 each.
Sewing and selling the hats were assisted by his neighbor. As a result, his first business effort netted him $800. This boosted his self-esteem, and he began to put in more effort.
His mother recognized that her kid have genuine ability in the field. She decided to take a major risk to support her son and put her house up for sale in order to lend him $100,000 to invest in his business. In 1992, he founded his company, ‘For Us By Us,’ which was later abbreviated to ‘FUBU.’ He continued to work as a waiter as well.
Getting celebrities on board to market the business was the biggest hurdle during its early phases, and Daymond John instinctively realized he needed some help. Daymond began making screen-printed T-shirts as his hat company grew more successful. As the business flourished, he hired two more buddies from his area and assigned them the task of selling T-shirts to them.
They began selling T-shirts in huge consignments in the northeast region in order to build the business. They began sewing the FUBU insignia on hockey jerseys and T-shirts over time. They created logos that matched hip-hop trends, and their clothing line became immensely famous among the general public.
One of their most innovative marketing strategies was to have celebrities wear their T-shirts. They began licensing their brand of clothing to upcoming rappers for the next two years.
They chose ten rappers, including Will Smith, and their logo appeared in around 30 music videos.
‘FUBU’ was still a small-time clothes business, but its appearance infamous music videos created the impression that it was a large brand. Many stores contacted them, and Daymond and his company began selling in large quantities.
Daymond John scored a major coup in 1993 when he persuaded his boyhood buddy and rapper LL Cool J to wear a ‘FUBU’ T-shirt to a public event. Cool J later wore a ‘FUBU’ cap and used the words “for us by us” in one of his rap tracks while filming a ‘GAP’ commercial.
Daymond received orders totaling $300,000 at the same time. He needed to ratchet up the effort to provide the goods, and he needed additional money to do so. He applied for loans at several institutions but was turned down by 27 of them. His mother saved up some money and placed an ad in the ‘New York Times.’ The effort paid off, as ‘Samsung Textiles’ joined the team, assisting ‘FUBU’ in completing the orders.
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Currently, ‘FUBU’ is a global brand with sales of more than $6 billion. Daymond John, the company’s founder, and CEO has become a national star and an inspiration for the country’s youthful black population, which has been largely disenfranchised and denied equal opportunity to flourish.
Daymond is also a motivational speaker and a black icon who speaks on public occasions.
Daymond John was offered a seat on ‘Shark Tank,’ a business reality show, in 2009. Individuals submitted their company ideas to investors in the hopes of gaining investment, according to the show’s structure. Daymond had put more than $8 million of his own money into several ‘Shark Tank’ businesses by 2017.
He’s been one of the show’s most popular investors. He gained considerable praise for choosing to teach Moziah Bridges, the owner of ‘Mo’s Bows,’ a young entrepreneur. As a result, ‘Mo’s Bows’ has exploded in popularity, recently signing a lucrative deal with the ‘NBA.’
He launched ‘Daymond John’s Success Formula,’ a business skill-development program to help small firms flourish, in September 2015. The name was eventually changed to ‘Next Level Success.’
‘The Brand Within,’ ‘Display of Power,’ ‘Rise and Grind,’ and ‘The Power of Broke,’ are his four novels. He is a bestselling author in the New York Times. He has also received numerous honors, including the NAACP Award, the Asper Award, and the Essence Award.
Net Worth
Daymond John’s net worth is $350 million as of April 2022. Since 2020, his net worth has climbed by $50 million.
He just launched Blueprint and Co, a coworking space, and “Daymond On-Demand,” a video training service. Barack Obama appointed Daymond John as his presidential representative for global entrepreneurship in 2016. He visited Kenya and Cuba to assist in the creation of small business prospects and to promote business empowerment.
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In 2019, Daymond John was diagnosed with thyroid cancer. Despite being a concerning discovery at first, the tumor in his throat was successfully removed.
