Daymond John is an American businessman, investor, TV personality, and author, best known as the founder and CEO of the American apparel company ‘FUBU.’
This article will tell you about his childhood, family, facts, career, personal life, and net worth.
|Full Name||Daymond Garfield John|
|Famous for||CEO of FUBU|
|Date of Birth||February 23, 1969 AD|
|Age||52 Years (as of 2021)|
|Birthplace||Brooklyn, New York, United States|
|Awards||NAACP Image Award for Outstanding Literary Work – Instructional|
|Children||Yasmeen John, Destiny John|
|Net Worth||$300 million (estimated in 2021)|
Daymond John is an American businessman, investor, television personality, and author who is best known as the founder and CEO of the American clothing company “FUBU”. Born into a middle-class family in Queens, and raised by a single mother. His parents divorced when he was 10 years old. After that, he started working and simultaneously running his studies. However, he was dyslexic and unable to focus on a lot of topics. Therefore, his interest in academics waned.
However, when Daymond John was in his early twenties, he was aspiring to launch his own clothing line, “FUBU”. His mother financially supported him, and after some initial hurdles, the business grew rapidly, with some rappers deciding to wear the brand’s outfits in music videos and promotions. In the early 2000s, he was making millions. In 2009, Daymond joined Shark Tank, a business reality TV show, and has successfully invested in the business of several contestants and advised some of them. He has also written four books and happens to be one of the best-selling authors in The New York Times. He also co-founded the business skills development program called “Next Level Success”.
Childhood and Early Life:
Daymond Garfield John was born on February 23, 1969, in Brooklyn, NY, United States, into a middle-class family of Caribbean parents Margo and Garfield John. He was the only child in the family and grew up in Queens, New York. His parents weren’t doing well financially. Daymond takes credit for teaching him the value of hard work early in life. Things fell apart when he was 10 years old. His parents divorced and his father left home. His mother, who was a housewife, was unable to find work. Thus the family plunged into poverty. Before long, Daymond John decided to be the man of the house and got to work. He grew up in the Hollis area of Queens, which was at the time dominated by the low-income black population. There he mingled with the boys of the community. The community was inclusive and everyone knew and helped each other.
Daymond John started working in various jobs very early on like selling pencils and shovel snow. At the age of 10, he became a trained electrician and fixed electrical problems in and around the Bronx. Sometime in the 1980s, the hip-hop scene in New York boomed, and Daymond was deeply influenced by it. He wanted to be a part of it, like many other teens. However, being black in color, he couldn’t afford the costumes worn by hip-hop artists. At that time he was still in school and could not focus on his studies. Years later, he learned that he was dyslexic. This led him to drop out of his studies. Therefore, he decided to leave college and start his own business. However, to do so, he needed capital investments. So, he started working as a waiter to provide enough for his business.
Daymond John learned sewing from his mother when she pressured him to start doing something worthwhile in his life. He came across some woolen ski caps on the market and found them quite pricey. So he bought cheap fabric and sewed about 80 woolen hats, and sold them for $ 10 apiece. His neighbor helped him sew and sell hats. Therefore, he made $ 800 through his first commercial venture. This gave him a lot of confidence and he started to work harder. His mom realized her son was really talented at what he was doing. She decided to take the big risk to help his son, so she mortgaged his house to loan him $ 100,000 to invest in his company. In 1992, he laid the foundation for his company “For Us, By Us”, which was shortened to “FUBU”.
Daymond John also continued to work as a waiter. Branding was the biggest challenge during its early stages, and he somehow knew that he needed some celebrities to come together to promote it. Over time, as the hats began to go smoothly, Daymond began sewing the screen-printed T-shirts. As the business grew, he hired two other friends from his neighborhood and gave them the responsibility of selling the shirts. To expand the business, they started selling shirts with large shipments in the Northeast region. Over time, they began to sew the “FUBU” logo on the hockey jerseys and jerseys. They designed logos to match hip-hop trends, and their clothing brand became extremely popular with audiences. One of the biggest promotional ideas they had was getting some public figures to wear their shirts.
Over the next two years, they began loaning their clothing brand to the next rappers. They cast 10 rappers, including Will Smith, and their brand appeared in around 30 music videos. Although “FUBU” was still a small brand of clothing, its presence in popular music videos created a general perception of it as a great brand. Many stores started calling them and Daymond and his company started supplying in bulk. In 1993, Daymond John made a breakthrough when he managed to convince his childhood friend and rapper LL Cool J to wear a “FUBU” shirt at a public event. Later, while filming the “GAP” commercial, Cool J wore a “FUBU” hat and used the phrase “for us by us” in a rap song.
Around the same time, Daymond managed to receive orders of $ 300,000. To deliver the goods, he needed more work, and for this, he needed more money. He borrowed from many banks, but 27 major banks refused. His mother raised some money and advertised in the “New York Times”. The effort was successful and “Samsung Textiles” helped “FUBU” to complete the orders. Currently, FUBU is a global brand with sales of over $ 6 billion. As its founder and CEO, Daymond has become a nationally famous figure and an inspiration to young black Americans who have been largely marginalized and denied the same growth opportunities. Daymond also speaks as a motivational speaker at public events and is known as the black icon. In 2009, Daymond John was offered a place on the action reality show “Shark Tank”. Under the program format, individuals presented their business ideas to investors, hoping to obtain financing.
By 2017, Daymond John had invested more than $ 8 million of his own funds in various projects for “Shark Tank”. He was one of the most popular investors in the show. He gained widespread recognition for choosing to mentor a young entrepreneur named Moziah Bridges, the owner of “Mo’s Bows”. As a result, Mo’s Bows has grown by leaps and bounds and signed a mega-contract with NBA. In 2015, he led a business skills development program called “Daymond John’s Success Formula” to help small businesses grow. It was later renamed “Next Level Success”. He has written four books: Branding Within, Showcasing Strength, Rising and Grinding, and Breaking Strength. He has also received many awards, such as the “NAACP Award”, “Asper Award” and “Essence Award”.
Daymond John married his first wife in his early twenties and had two daughters with her. He was busy spending time on his job at the time. So his wife left him. The marriage eventually ended in divorce. In 2018, Daymond married Heather Taras. They had a daughter, Minka Jagger. In 2017, Daymond was diagnosed with thyroid cancer. He then underwent successful surgery and is now cancer-free.
Daymond John has an estimated net worth of almost $300 million (estimated in 2021).