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Daymond John

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Daymond Garfield John (born February 23, 1969) is an American businessman, investor, television personality, author, and motivational speaker. He is the founder, president, and CEO of FUBU, a hip-hop apparel company that generated over $6 billion in global sales. John is one of the original "Shark" investors on the ABC reality television series Shark Tank, where he has appeared since the show's 2009 premiere and has invested millions of dollars in entrepreneurial ventures.

A self-made entrepreneur who started FUBU in his mother's house in Queens with a $40 budget, John has become one of the most recognized business figures in America. He serves as the founder and CEO of The Shark Group, a brand management and consulting firm. In 2015, President Barack Obama appointed John as a Presidential Ambassador for Global Entrepreneurship. He is a New York Times bestselling author of multiple books on entrepreneurship and has been recognized with over 35 awards for his business achievements, including the Ernst & Young Entrepreneur of the Year.

John has been open about his struggles with dyslexia, which went undiagnosed throughout his childhood, and his 2017 battle with thyroid cancer. He serves as the National Brand Ambassador for the American Cancer Society and sits on the advisory board of Understood.org, advocating for individuals with learning disabilities.

Early life and education

Daymond Garfield John was born on February 23, 1969, in Brooklyn, New York City, to parents of Caribbean descent. His father, Garfield John, was from Trinidad, and his mother, Margot John, raised him largely as a single parent after his parents divorced when he was ten years old. John was an only child, and his mother worked multiple jobs to support the family.

John grew up in the Hollis neighborhood of Queens, a working-class, predominantly African American community. The neighborhood fostered a strong sense of community, with neighbors helping one another. Despite the modest circumstances, John's entrepreneurial instincts emerged early. After his parents' divorce, he began working odd jobs at age ten, including handing out flyers for $2 an hour, selling pencils, shoveling snow, and serving as an apprentice to an electrician who fixed issues in and around the Bronx.

John attended Catholic school for seven years before enrolling at Bayside High School in the Bayside neighborhood of Queens. Throughout his education, he struggled academically due to undiagnosed dyslexia. He excelled in math and science but consistently performed poorly in English despite hours of effort. His condition was initially misdiagnosed as a behavioral issue; it was not until later in his business career that he learned he had dyslexia.

While at Bayside High School, John participated in a cooperative education program that allowed him to alternate between full-time work and attending school on a weekly basis. This arrangement enabled him to begin developing his business skills while completing his education.

Career

FUBU

After graduating from high school, John worked as a waiter at Red Lobster while contemplating his next move. In the late 1980s, hip hop music and culture were flourishing in New York City, and John was deeply influenced by the scene. Frustrated by the high prices of fashionable clothing marketed to hip-hop audiences—and by the fact that many mainstream brands explicitly stated they did not want to market to ethnic consumers—John decided to create his own clothing line.

In 1992, John noticed that wool ski hats with tied-off tops were selling for $20, a price he considered excessive. With his mother's encouragement, he learned to sew and began making similar hats at home. Partnering with his next-door neighbor, John produced approximately 90 hats and sold them on the corner of Jamaica Avenue in Queens for $10 each, earning $800 in a single day.

Encouraged by this success, John recruited childhood friends Alexander Martin, Carl Brown, and Keith Perrin to join him in the venture. They named the company FUBU, an acronym for "For Us, By Us," reflecting their mission to create clothing specifically for young African American consumers who felt underserved by mainstream fashion brands.

John's mother, Margot, played a pivotal role in the company's early growth. She mortgaged her house to provide John with $100,000 in startup capital. The family converted half of their home into a makeshift factory while continuing to live in the other half. John and his partners would work during the day and sew clothing at night.

The company's breakthrough came when rapper LL Cool J, a neighborhood friend, agreed to wear FUBU clothing. LL Cool J wore a FUBU hat in a Gap commercial, providing enormous brand exposure. He later appeared in print advertisements for FUBU, declaring "For Us, By Us" while wearing the brand's logo.

In 1995, FUBU signed a distribution deal with Samsung, which provided financing and infrastructure support. Within five years, sales through the Samsung partnership reached $200 million. At its peak, FUBU generated $350 million in annual sales through 5,000 retail stores and ultimately accumulated more than $6 billion in global sales.

FUBU's cultural impact extended beyond commerce. The brand became a symbol of African American entrepreneurship and self-determination during the 1990s hip-hop era. FUBU clothing is now featured at the Smithsonian National Museum of African American History and Culture in Washington, D.C.

The Shark Group

After FUBU's peak years, John founded The Shark Group, a brand management and consulting firm headquartered in New York City. The company works with businesses to enhance their brand appeal, develop marketing strategies, and position themselves for growth and investment. The Shark Group's client list has included major brands and celebrities seeking strategic guidance.

The Shark Group has received four Webby Awards and a nomination for its work on Black Entrepreneurs Day, an annual event John created in 2020 to promote Black-owned businesses. The event is held at the Apollo Theater in Harlem and features Black business owners, entrepreneurs, and celebrities, partnering with the NAACP and corporate sponsors.

Shark Tank

In 2009, Mark Burnett invited John to join the cast of ABC's Shark Tank as one of the original "Shark" investors. The reality television series features entrepreneurs pitching their business ideas to a panel of wealthy investors. John has appeared in every season since the show's premiere.

Through 2024, John has listened to over 1,300 pitches and made approximately 118 deals on the show. He has invested over $8.5 million of his personal capital in Shark Tank companies. Half of his deals have been solo investments, while the other half were group investments with other Sharks.

Notable investments include:

  • Bombas: In 2014, John invested $200,000 for a 17.5% stake in this sock company with a one-for-one giving model. Under his guidance, Bombas grew from $450,000 in total sales to an estimated $100 million valuation.
  • Bubba's-Q Boneless Ribs: John invested $300,000 for a 30% stake in former NFL player Al "Bubba" Baker's barbecue business. Annual sales grew from $154,000 to $16 million within three years.

John's largest single Shark Tank investment was $3 million for 100% of Moki Doorstep, a vehicle accessory company. His average investment size is approximately $315,000, with a median of $150,000, and he typically takes a 35% equity stake.

Author and speaker

John is a New York Times and Wall Street Journal bestselling author. His books include:

  • Display of Power (2007)
  • The Brand Within: The Power of Branding from Birth to the Boardroom (2010)
  • The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage (2016) – New York Times bestseller, NAACP Image Award for Outstanding Instructional Literary Work
  • Rise and Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life (2018)
  • Powershift: Transform Any Situation, Close Any Deal, and Achieve Any Outcome (2020)
  • Little Daymond Learns to Earn (2023) – his first children's book, New York Times and Amazon bestseller

As a motivational speaker, John commands significant fees for keynote appearances at corporate events and conferences, sharing insights on entrepreneurship, branding, and overcoming adversity.

Business philosophy

John's business philosophy centers on several key principles he has articulated in his books and speeches:

  • The power of broke: John believes that starting with limited resources forces entrepreneurs to be more creative, resourceful, and hungry for success
  • Building a personal brand: He emphasizes the importance of consistent personal branding and authenticity in business
  • Persistence and hustle: His "rise and grind" philosophy stresses the importance of hard work and determination
  • Understanding your customer: FUBU's success stemmed from John's deep understanding of his target market and their unmet needs
  • Giving back: John advocates for successful entrepreneurs to mentor and support the next generation

Controversies

Bubba's-Q litigation

John's most significant public controversy involved his Shark Tank investment in Bubba's-Q Boneless Baby Back Ribs, founded by former NFL defensive end Al "Bubba" Baker and his family. The Bakers appeared on the show in 2013 seeking $300,000 for a 15% stake; John offered $300,000 for 30%, which they accepted on camera.

The business relationship subsequently deteriorated. The Baker family alleged that John changed the deal terms off-camera to $100,000 for 35% equity. They accused him of misleading them, stealing profits, and depriving them of business opportunities. John denied the allegations and maintained that the Bakers had defamed him.

In 2023, John filed for and was granted a permanent restraining order against the Baker family by a New Jersey judge. John stated that the Bakers' public accusations had damaged his reputation, causing a major television network to cancel a show he was involved in, resulting in lost speaking engagements, and prompting major brands to decline working with him.

Personal life

Health

In April 2017, during a routine executive physical examination, doctors discovered a one-inch nodule in John's thyroid. He was diagnosed with stage II thyroid cancer. John underwent successful surgery to remove the cancerous nodule and has remained cancer-free since the operation. However, he must closely monitor his thyroid for the rest of his life to prevent recurrence.

Since his cancer diagnosis, John has become an advocate for cancer awareness and early detection. He serves as the National Brand Ambassador for the American Cancer Society and regularly encourages others to get routine health checkups.

Dyslexia advocacy

John has spoken publicly about his experiences with dyslexia, which went undiagnosed throughout his childhood and was initially misdiagnosed as a behavioral issue. He has worked with the Yale Center for Dyslexia & Creativity and currently sits on the advisory board of Understood.org, an organization supporting individuals with learning and attention issues.

John views his dyslexia as having contributed to his entrepreneurial success by forcing him to develop creative problem-solving skills and rely on his strengths in visual thinking and interpersonal communication.

Marriage and family

John was previously married to his first wife before achieving fame with FUBU. He has stated that his intense focus on building the business contributed to the end of that marriage, acknowledging that his wife "saw me on TV more than she saw me in person." The couple had two daughters together: Yasmeen and Destiny John.

John met his current wife, Heather Taras, in the mid-2000s. Taras, born on February 5, 1984, in Brooklyn, is a former registered nurse who pursued a career in fashion and modeling after meeting John. The couple dated for approximately a decade before their engagement.

In March 2016, the couple welcomed their daughter Minka Jagger John. Four months later, John proposed to Taras on the set of Shark Tank. "I was nervous. I was proposing on set," John recalled in a 2017 interview. "I saw Kevin [O'Leary] in the corner, whispering to her about royalties and all kinds of stuff when I proposed, but she said yes."

John and Taras married in June 2018 during an intimate ceremony in Queens, New York. Originally planning a Caribbean wedding, they changed venues after hurricanes affected the region. "It was [a great day]. Filled with family and friends, very, very private—a few people knew about it and it wasn't in the public eye and I got married to the girl of my dreams," John said.

Taras's brother, Jason Taras, passed away in 2017. The family resides in New York City.

Awards and honors

John has received over 35 awards for his business achievements, including:

Net worth

As of 2024, John's estimated net worth is approximately $350 million. His wealth derives from the success of FUBU, his Shark Tank investments and television earnings, The Shark Group consulting firm, book royalties, speaking fees, and various business ventures.

References


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