Daymond John Details How His Mom Became FUBU's First Investor Through A $100K Loan On Their House
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Daymond John’s success is credited to the immeasurable value of having a solid support system.
It’s a known tidbit that the “Shark Tank” co-star turned FUBU into an iconic brand thanks to his mother’s belief in him. However, in an interview with Shannon Sharpe, he revealed the extent of just how much she supported his dream.
After Sharpe mentioned that John’s mother was his first investor, he shared his journey that led to the special moment. From seeing him work tirelessly on his brand for five years to being denied by 27 banks, she made a big decision to help her son.
“I go to my mother and tell her I got turned down from 27 banks and she says, ‘Daymond, you’ve been trying to contribute to this house as long as you were a kid. I wouldn’t do this if you didn’t have the money. Let’s take all of the money we can out of the house. You manufacture and deliver the clothes and put the money back into the house.’ And that’s how she gave me the money,” he told Sharpe.
He continued: “My mother went out and got a $100,000 loan on my house and I have no idea how because the houses were $75,000. To this day I haven’t asked her what she did for the rest of the money, but shout out to moms.”
