Shark Tank investor, Daymond John, is a serial entrepreneur with an estimated net worth of $350 million. The millionaire was raised by his single mom in Queens, New York, and before joining Shark Tank as an investor, made a fortune as the founder of FUBU, which was synonymous with T-shirts, sweatshirts, hoodies, hats, denim, and footwear.
According to NBC News, John’s FUBU template was borrowed by hip-hop moguls like P. Diddy, Nelly, and Jay-Z to start their own clothing line.
Besides FUBU, John also established himself as a branding guru, working with A-list artists such as the Kardashians, rappers LL Cool J and Pit Bull, and boxer Lennox Lewis. In 2015, U.S. President Barack Obama appointed him as one of nine Presidential Ambassadors of Global Entrepreneurship.
Highlighting his business expertise and continuous thirst to develop diverse streams of income, here are 10 businesses owned by the serial entrepreneur.
Daymond John is known for his pioneering apparel and footwear brand, FUBU, which is an abbreviation of the phrase, “For Us By Us.” The brand was created and targeted at the African-American community by John and his three friends after popular brands refused to market their brands to ethnic minorities.
John and his childhood friends, Keith Perrin, J. Alexander Martin, and Carl Brown, started FUBU from his mother’s home. He later mortgaged his mother’s three-level Queens, N.Y. home for $100,000 to invest in FUBU.
The brand became so popular and saw celebrities like Mary J. Blige, TLC, P. Diddy, LL Cool, and Beyonce all wearing FUBU to multiple shows, and award events, as well as print and television ads. FUBU reportedly made $350 million in sales through various retail outlets and eventually grossed $6 billion globally.
Aside from FUBU, John has also invested in diverse portfolios totaling over $8 million in some businesses that appeared on Shark Tank. He often invests in clothing and technology companies.
Bombas is regarded as one of his most successful investments on Shark Tank. According to sources, the investment has grossed a total of $225 million in lifetime sales. His current stake is also worth $34 million, according to the South China Morning Post.
Another of John’s major investments is Spikeball. Following a pitch by the owners of Spikeball on Shark Tank, he invested $500,000 to acquire a 22 percent stake in the innovative ball game. Since then, the company has grown into a $100 million startup. His current stake could be close to $22 million.
Hells Bells Helmets
Hells Bells Helmets is one of the businesses John wasted no time in investing when the owners appeared on Shark Tank. He acquired a 50 percent stake in the 3D helmet design brand, making his largest initial investment. Today, the firm has grown into a $ 10 million in valuation and his stake is close to $5 million.
Bubba’s Q BBQ
Bubba’s Q BBQ is a brand of homemade boneless ribs. He acquired 30 percent of the company for $300,000. In 2017, the company grew and made $16 million in revenue 2017 while John’s stake in the business is now worth approximately $4.8 million.
Sun-Staches was grossing $2.8 million in annual sales when the founders appeared on Shark Tank. John made a $300,000 investment for a 20% equity in their eyewear company. Four months after the investment, the company reportedly made $4.1 million in sales. Also, the company secured a licensing deal with Marvel to make character-themed sunglasses, which is guaranteed to boost their net sales.
AquaVault creates portable charges and other essential travel gear. He made an initial investment of $75,000 and has turned the company into a $5 million valuation firm.
John has a 33 percent stake in Shefit, a sports bra brand. He acquired the stake during the seventh season of Shark Tank. According to estimates, the company has grown to $13.8 million. Additionally, his stake translates into $4.5 million.
Virtual Pinball Machines (VPcabs)
Virtual Pinball Machines (VPcabs) is the most expensive retail product to ever be pitched on Shark Tank. Prior to appearing on the show, VPcabs made only $400,000 in lifetime sales. John decided to offer $200,000 for a 25% stake in the company. Since then, the company has made a leap to $1 million in sales.
GoGoGear is also one of John’s largest investments. The company is a fashionable biker clothing brand. He invested $300,000 in exchange for 65 percent of the company. In 2021, the company made $7.48 million in revenue while the value of John’s stake in the company grew to some $4.8 million.