Daymond John says Mark Cuban's exit won't affect 'Shark Tank' — his wealth is proof of his judgment

One of the long-time judges on ABC's Shark Tank, Mark Cuban has announced that he will be exiting the show after its 16th season. His fellow Shark, Daymond John has expressed that his absence won't affect the show much as it is more about the entrepreneurs and less about the Sharks. The FUBU founder and self-made entrepreneur is known for seeking out and backing young and ambitious entrepreneurs and he believes that the show will outlast all of the investors on the panel.

Speaking to Variety, John said he isn’t worried about what it might mean for the long-running series. “The show will be around long after Mark, Daymond, Barbara, and all of us,” he said. He further added that the cast of the show had worked with Cuban for more than a decade and commended his larger-than-life personality.

However, he expressed that the series wasn't about the Sharks at all. “Who cares about the sharks, to tell you the truth? It is really about that mom and pop who have risked every single thing in their life and they need one shot," he said.

The serial entrepreneur has backed several businesses in his long stint at the show and he plans to continue finding communities that he can help. While his purpose is to make people's dreams come true, in the course of it, John has made a lot of wealth for himself too. 

The celebrity businessman, fashion designer, and author, Daymond John is the former president of the urban clothing brand, FUBU. He is popular as an investor on the famous show "Shark Tank". John started FUBU, which stands for "For Us By Us", from his mother's house in Queens. He merged his love for hip-hop and fashion and made a brand that would cater to young, male, urban customers. The investor is worth $350 million as of 2024, per Celebrity Net Worth.

Daymond John started his career at a very young age. His main source of income is still his clothing company, FUBU. He has also earned a lot as a media personality and an investor. John reportedly makes $2 million per season of "Shark Tank," as per NCESC. He reportedly earned $20 million over the course of his time on the popular show.  

Shark Tank ventures

John has reportedly invested more than $8.5 million of his own money in businesses on "Shark Tank." He has also written books like "Display of Power," The Brand Within," "The Power of Broke," "Rise & Grind: Outperform, Outwork, and Outhustle Your Way to a More Successful and Rewarding Life" and "Little Daymond Learns to Earn." He is also the brand ambassador for Shopify and the CEO of The Shark Group, which is a consulting and rand management firm. 

John started FUBU when he was only 20. His mother famously mortgaged her house to raise money for her son's company. He started out by selling knock-off wool ski hats as the originals used to cost around $20 per piece. He worked with his friend and made similar hats and sold them for $10 each which made him $800 in one day. In 2015, he co-founded Daymond John Sucess Formula and focused on teaching entrepreneurs how to grow their own businesses from scratch. Today he is also a public speaker. In 2021, he even signed a deal with Audible.