Copyright Parade
Key Points Daymond John credits his mother, Margot, for his early entrepreneurial success with FUBU. John values mentoring, especially minority, and child entrepreneurs, through 'Shark Tank' and beyond. Family, social impact investments, and inspiring new business owners remain central to John's mission. Daymond John is an extremely grateful self-made man who is eager to credit his mother, Margot, for believing in him early on, which led to the 1992 launch of his clothing line FUBU, his first successful business venture. He credits his mom’s support for his early entrepreneurial journey and pursuit of the American Dream, another key reason why mentoring entrepreneurs resonates with him. “This meant everything in the world to me,” John exclusively tells Parade. “Every single person, whether you start off with your mom, or the teacher who believed in a little dyslexic brown boy and told me that they ‘bet on the right horse,’ it is always gratifying.” 🎬 SIGN UP for Parade’s Daily newsletter to get the latest pop culture news & celebrity interviews delivered right to your inbox 🎬 The branding and fashion expert and Shark Tank star has spent the past 17 years on the popular ABC reality TV series that has transformed the business landscape. While the inventors, business owners, and dreamers hope to get an investment deal with one of the successful Sharks, the Sharks say they have benefited from spending time with one another in and out of Shark Tank. The goal is to go home with not only an investment of money from the sharks, but to gain a seasoned mentor and advisor to help them scale their business. There have been nearly 900 deals made on air during the show, which has taken place over 350 episodes of the hit ABC series. The sharks are also intensely proud that thousands of jobs have been created by companies that appeared on Shark Tank. Related: ‘Shark Tank’ Star Barbara Corcoran Opens Up on Family Caregiving: ‘Don’t Go It Alone’ John hopes his success story can serve as an inspiration to others. “I don’t sugarcoat it; it’s not going to be easy. But if you look at me, I didn’t come from any money, I have no famous last name, I was raised by a single mother, and I had no formal education besides high school. So, if I can do it, then you can do it, too,” he said. “Sixty-five percent of Forbes’ top wealthiest 1,000 people are all self-made men and women, so why can’t you do it, too?” Six of the TV sharks — including John, Mark Cuban, Robert Herjavec, Barbara Corcoran, Kevin O’Leary and Daniel Lubetzky — all self-made millionaires, came to the recent first-time Clover x Shark Tank Summit in Las Vegas and were eager to share both their business and life advice in hopes of helping to change more lives along the way. John says the value of attending these inspiring in-person events is to provide a toolbox for future business owners. “The key is to give entrepreneurs some practical advice on how people can empower themselves, and change their lives, but also take affordable steps toward their goal so that if it doesn’t happen like they would like, they can start again a little more wisely.” Related: Robert Herjavec Shares How His Mom Inspired His Life-Changing ‘Dancing With the Stars’ Journey (Exclusive) John has a soft spot for child entrepreneurs, including Mikaila Ulmer, founder and CEO of Me and the Bee’s Lemonade, a refreshing product that uses Texas wildflower honey to make unique fresh-squeezed lemonade flavors such as passion fruit, prickly pear, and black cherry. Related: ‘Shark Tank’ Multimillionaire Gave Employees ‘the Day Off’ to Honor New Taylor Swift Album Another company close to his heart is Mo’s Bows, a bowtie business, in which he mentored Moziah “Mo” Bridges, the young entrepreneur, who came on Shark Tank during Season 5 at age 11. Currently, Mo is 24 years old, has a foundation, and writes books, all of which John is eager to talk about. John invested in the Hanukkah Tree Topper business operated by Morri Chowaiki, and the kinship resulted in Chowaiki joining John’s staff as the Head of Sales and Retail, some 10 years ago. “Morri is here with me at the summit, and people like Morri are like members of my family.” It is a true passion of John’s to help minority business owners. “Being a business owner is hard. But being an African-American or minority business owner is harder,” John explained. Related: Meet the New Generation of ‘Shark Tank’ Sharks — And Find Out What They Learned from Mark Cuban (Exclusive) He added that these future business owners and business leaders need to see people who look like them. “It is the same for women, who [often] couldn’t get a loan without a man co-signing for them until a [1988] law was passed. When we don’t have a history of having access, it is important to show them that it can happen.” John is also filled with pride that he invested in the sock company, Bombas, the number one product in the history of Shark Tank. The social component of the business run by founders Randy Goldberg and David Heath, was key – for every pair of socks sold, one is given to the homeless. The company later expanded to shirts and underwear and still donates one item for each one sold. “Bombas taught me what it means beyond being a successful business because we are in the communities,” John said. “It shows me that you need to double down on why people buy a product, and that’s exactly what’s important about them.” This is one of the many reasons why the sharks gave their time at the recent Clover x Shark Tank Summit in Las Vegas, where hundreds of new and longtime business owners gathered to hear their pearls of wisdom. Being on the series and working with the various entrepreneurs has changed the Sharks in many ways. They readily admit that they learn from one another, and despite the cajoling and dramatics on stage to snag deals from one another, they are close friends who frequently get together outside of Shark Tank. “I learn from every one of the sharks. When I sit in that chair, every single kid can look at us and say we are self-made men and women,” John said. “We are not athletes, we are not singers or dancers, but we made it by pulling our pants up and getting to work!” Related: Every Shark on ‘Shark Tank,’ Ranked by Net Worth When he is not on Shark Tank or tending to his many successful business ventures, John makes ample time to spend with his family, including his adorable nine-year-old daughter, Minka John, who appeared on a Season 15 episode with her mother, Heather John, as part of a pitch from Mama Sing My Song, a custom song business. “Minka and I are both Pisces, so we’re going to do something in the water during our family time,” John shared. “I love to listen to her and everything she is going through. I try to get her off her device and get her comfortable enough to ask me anything she would ever want to know. It’s about being there as much as I can and spending as much time with her as I can.” He readily admits, “Of course,” his little girl has him “wrapped around her little finger. And I wouldn’t have it any other way!” Shark Tank airs on ABC on Wednesdays at 10 p.m. ET., and the next day on Hulu. Previous seasons air on ABC and Hulu, and reruns air on CNBC.
