Daymond John of FUBU and Shark Tank fame has seen it all and done it all. His ties to Houston go back years and in an exclusive interview with the Madd Hatta Morning Show inside the Houston BMW Studios, John gives up the game about what it’s like hanging with billionaires versus millionaires, when did he realize he wasn’t as rich as he thought he was, the most expensive lesson he’s learned, why he didn’t invest in Ring and the infamous $6 million island party he threw to celebrate FUBU’s 10th anniversary!
On His Most Expensive Lesson:
“Don’t have side pieces. No, if you have money, make sure everyone pays for your debt. So that anything I own, somebody pays for. Car, jet, apartment building, anything that I have to pay for? I rent. Why? So I can pay half of it off. So get a small house, let somebody pay that rent for it. If your mortgage is $1500, let somebody pay $1800 and pay it down If you’re gonna go rent something, rent and pay it down and write off much as you can of it. It’s like the old saying, “Money is a great slave but a horrible master.” So a lot of people think money is purely something you should go buy things you want, but let everybody else pay for your debt, if you can.”
Watch the full interview below.