FUBU FOMO: What is Daymond John’s net worth?
Daymond John is an American businessman and entrepreneur, most famous for being the founder of the clothing company FUBU. FUBU is among the most popular hip-hop apparel brands in the world, to such an extent that it has been featured at the Smithsonian’s National Museum of African-American History and Culture.
John also stars on the ABC reality show Shark Tank, in which he offers aspiring entrepreneurs advice and investment capital. The success of the show has done wonders for his career, boosting his net worth and introducing him to a whole new generation of investors.
So what is Daymond John’s net worth in 2023? Let’s take a closer look at his finances and explore how he makes money.
One of the key sources of income for Daymond John is his successful clothing brand, FUBU. John famously started FUBU at his mother’s house in Queens, New York in 1992. He convinced his mother to mortgage their house for $100,000 as a means of generating start-up capital, and the gamble paid off, as the brand was worn by fellow Queens native LL Cool J during a promotional ad in 1993.
FUBU quickly became popular among hip-hop fans for its edgy designs and witty slogans. Since then, it has gone on to become a multi-million dollar company with endorsements from major celebrities including JAY-Z and P. Diddy.
It is estimated that FUBU has generated over $6 billion in sales so far. The brand continues to collaborate with high-end chains like Urban Outfitters and Century 21. John remains the founder, president, and Chief Executive Officer (CEO) of the brand.
Investments & endorsements
Over the years, Daymond John has made several investments in various companies through his venture capital firm, Shark Branding. Some of these investments have been incredibly lucrative; for example, he invested $20 million into eyewear company Beam Us Up which later sold for $300 million!
Then there’s Shark Tank. John was part of the original Shark Tank cast when the pilot aired in 2009, and he’s remained a vital part of the show’s success ever since. John gets an impressive $50K per episode, but more importantly, he gets additional revenue from endorsement deals he makes during each episode.
Some of the most notable brands John has invested in are Stars Earn Stripes Challenge and Sun-Staches. The latter has done $4.2 million in sales since John linked up with them in Shark Tank’s sixth season. Talk about icing on the cake!
Book deals & real estate portfolio
Daymond receives significant amounts from other sources such as appearance fees when he attends seminars/conferences. He also earns royalties from book sales; he has written two books – Display of Power (2006) and The Power of Broke (2016). Both were New York Times bestsellers. Additionally, John hosting panel shows related to celebrity events can bring a fair amount of cash as well.
In recent years, real estate has become a new area of interest for John in terms of making money. He’s not only invested in properties himself, but has taken part in workshops to teach people the basic process of getting involved in the real estate market.
Because of this, many news outlets speculated that John holds a considerable amount of valuable property portfolio. All of it likely generates more capital for the FUBU mogul.
Daymond John’s estimated net worth
After looking at all of the factors combined, it’s estimated that Daymond John’s overall net worth sits somewhere in the range of $200 – 350 million USD. Without question, his combined savvy, investing expertise, and the founding of FUBU have made him one of the most consistently successful businessmen in pop culture.
It would have been impossible to know that John would be as successful as he’s been when he started out, especially given the humbleness of his beginnings. Still, he took every opportunity he was given and created an apparel empire that allowed him to bring his business expertise to a number of different fields.
John’s success in nearly every field he’s attempted speaks to his overall savvy. This is one man whose net worth has been well-earned, and whose net worth will likely continue to grow in the future.