What is Daymond John's net worth? 'Shark Tank' investor files restraining order against ex-contestants Baker family
NEW YORK CITY, NEW YORK: Daymond John, the renowned entrepreneur and investor from the hit TV show 'Shark Tank', has taken legal action against former contestants, the Baker family. Allegations made by the family regarding their business dealings with John prompted him to file a lawsuit and seek a restraining order. The Bakers accused John of deceptive practices, profiting from their venture, and obstructing potential opportunities after their appearance on the show.
Responding to these claims, a spokesperson for Daymond John issued a statement to Fox News. "After repeated attempts to give the Baker’s the ability to correct their violations. It is unfortunate that it has come to this," rep Zach Rosenfield stated. "This temporary restraining order is due to the Baker’s blatant actions to undermine a business partnership and the legal parameters they agreed to 4 years ago."
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John's legal team has requested a temporary restraining order against Al "Bubba" Baker, his wife Sabrina, and their daughter Brittani. "Their belief that they can unwind poor business decisions through slanderous social media posts and articles will no longer be tolerated," the statement concluded. However, the case was recently dismissed without prejudice by a federal judge in New Jersey, citing jurisdictional issues, as reported by the Los Angeles Times.
Brittani, the daughter of Bubba Q's, continues to share details about the 'Shark Tank' deal on social media, prompting John to take further legal action against the family. She has made public various email exchanges between her family and the 'Shark Tank' business partners, alleging that John altered the original agreement, ignored their complaints, and excluded them from crucial business meetings.
Brittani also shared a recorded audio conversation between herself and John, discussing the concerns her family had raised. "When you send it to me, I’m not going to have anything to do with it. You have to keep continuing talking to the people, I guess however you guys set up the communication," John responded. "My life has just been a little bit simpler without dealing with the contention of this stuff. Only you’re going to jump in and f--k it up, they might have a right reason, they may be wrong…"
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The Bakers originally appeared on the fifth season of "Shark Tank" in 2015, presenting their boneless baby back ribs. They claim that John's initial offer of $300,000 for 30 percent of the company was revised off-air to $100,000 for 35 percent. The Bakers have been vocal about their dissatisfaction with the business deal involving John and Rastelli Foods Group, a meat manufacturer responsible for producing Bubba Q's Boneless Baby Back Ribs. According to the family, they received only 4 percent of the $16 million in revenue generated by the business.
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In response to the negative publicity, John posted a video on social media, addressing the controversy three days after the Los Angeles Times article was published. He criticized the Baker family for intentionally violating a confidentiality agreement and accused the media outlet of promoting a false narrative against him. While unable to provide further details due to the confidentiality agreement, John encouraged his fans to always stand up for themselves.
What is Daymond John's net worth?
Daymond John's net worth is estimated to be $35.0 million, as per Wealthy Gorilla. As the founder, former CEO, and president of the urban clothing brand FUBU, his success in entrepreneurship, investments, and television hosting on 'Shark Tank' has contributed significantly to his wealth. As the legal battle between John and the Baker family continues, the future resolution of their dispute remains uncertain.