How 15 African-American Entrepreneurs Funded Their Businesses

Daymond John turned $40 into a $6 billion brand when he founded FUBU.

In 1992, John and his three friends wanted to make hats. They purchased $40 worth of fabric and got to work in John’s home in Queens, N.Y.

The brand reached the height of its popularity in the 90s, and at its peak, FUBU brought in over $350 million in annual revenue.   

After largely leaving the U.S. market, FUBU has experienced a resurgence due to licensing deals and collaborations with companies like Urban Outfitters, Century 21 and Puma.

John is currently mentoring the next generation of entrepreneurs as an investor on ABC’s Shark Tank.

Related: Daymond John: 5 Reasons Why Education Is the Key to Your Success

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