Highlights
- Daymond John is loved by fans for his investment deals on the entrepreneurial show.
- With a massive fortune in millions, Daymond is one of the wealthiest panelists.
- In his fifteen-year tenure, the Shark Tank star has proved his niche expertise in the fashion vertical.
Shark Tank is one of the few reality shows that presents countless inspirational stories to its audiences. Whether it be the struggle of entrepreneurs or the journey of judges who decide to invest in businesses, the show has always impressed its viewers. Here, we will have a close look at the Shark Tank Daymond John journey.
With a fortune worth $350 million, he has emerged as one of the wealthiest panelists on the show. In his three decade long experience, the FUBU founder has enabled many aspiring entrepreneurs to accomplish their business goals. But what sets him apart is that he is eager to invest in people, not just a business.
What Guided Daymond Towards Becoming ‘The People’s Shark?’
Years before enticing viewers on Shark Tank and way before starting FUBU, Daymond used to sweep floors after school. Burdened with family responsibilities, he had to take up this job in a convenience store based in Queens, New York.
This experience shaped his personality as a considerate businessman as he witnessed how the store owner shared a warm relationship with each of his customers. It laid the foundation of Daymond’s people-centric mindset while running a business.
He realized that success is heavily dependent on how you treat your employees and customers. To do so, the most essential thing is to listen to the opinions of everyone around you.
Shark Tank Daymond John Instances: ‘The People’s Shark’
In his 15-year tenure on the popular entrepreneurial show, Daymond John has poured in a hefty amount of $8 million in multiple deals. Allowing budding businesses to earn huge fortunes, Daymond has revealed that his focus is way beyond just the pitches brought to him.
His prime emphasis lies in following his gut, which enables him to analyze if an entrepreneur will work hard. He is always on the lookout for people who are full of vigor and are ready to take the extra step. Below mentioned are a few examples that highlight the same.
1. Contributing to the Homeless through Bombas Investment
Regarded as one of the most successful Shark Tank companies, the Bombas investment was a significant breakthrough in the Shark Tank Daymond John story. While the other investors opted out of the deal owing to customer acquisition costs and low-profit margins, Daymond offered $200K for 17.5% equity.
The reason why he invested despite the risks involved in the emerging startup was due to the conscious thought behind it. Entrepreneurs Randy Goldberg and David Heath revealed that their motivation behind Bombas was to deliver essential clothing items to people experiencing homelessness, i.e., socks.
Daymond was further impressed when the duo said that they would be donating a pair to the homeless shelters for every pair of Bombas socks sold in the market.
2. Investing in Hanukkah Tree Topper
Hanukkah Tree Topper was brought to the investors by an interfaith entrepreneur couple, Morri and Marina Chowalki. Seeking an investment of $50K for 15% of their company, the couple highlighted that their eventual goal was to join hands with the judges and contribute towards bringing different cultures together.
Continuing their funny pitch, Morri stated that he had been selling the tree top ornament since 2009 and had made huge sales on Amazon. Despite this, the Sharks were not willing to make an offer. Kevin felt the product was seasonal, so he opted out of the deal. Lori, Mark, and Robert followed him.
The only Shark left was Daymond, who agreed to invest because he felt this deal was more than just money. Citing Christmas and Hanukkah as crucial events related to the faith of thousands, he proposed $50K for 35% equity. The entrepreneurs agree to the proposal.
Daymond then joined them in a bit of dance by wearing their blue Santa hat. This was ‘The People’ Shark’ moment that increased the Shark Tank Daymond John graph immensely.
3. Remembering his Mother During the ‘Jeska Shoe Company’ Pitch
Seeking $70K for 35% equity in her company, Jessica Haynes went in front of the panelists with Jeska Shoe Company. The company offered uniquely manufactured shoes that could change stiletto heels into flats.
Emphasizing on its interlocking magnetic procedure, she claimed to have invested $63K in the business. This amount was given to her by her grandfather for her college, which she never spent before.
Robert thought that there was already a lot of competition in the shoe industry, so he marked himself out of the deal. Kevin, Mark, and Barbara also shared their apprehensions regarding its success and opted out of investing.
However, Daymond got a bit emotional by relating to Jessica’s story. He remembered his mother, who was always by his side during his initial startup journey and played a critical role in the establishment of FUBU.
Due to the same reason, he offered her $70K for 70% equity. Jessica accepted the deal.
To Conclude
The Shark Tank Daymond John journey has time and again demonstrated his standout approach as ‘The People’s Shark.’ Bombas, Hanukkah Tree Topper, and Jeska Shoe Company have reiterated that their investments are people-driven, not money-driven.
With humble beginnings that shaped his personality as a people person, he is committed to assisting aspiring entrepreneurs on Shark Tank in an unparalleled way.
References
1. Daymond John Net Worth, Celebrity Net Worth
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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