Nationwide — Entrepreneur Daymond John says he turned down a $1.3 billion credit line from a major bank because he did not want to spend the next 20 years building and managing a business empire. Although the deal could have increased his wealth, the FUBU founder said he chose to protect his time with family and focus on what matters most to him.
John shared the story during a 2025 appearance on the BigDeal by Codie Sanchez podcast. Known for building FUBU into a successful fashion brand and investing in businesses on ABC’s Shark Tank, he said he often receives attractive business offers. One bank, which reportedly works with 1,000 of the world’s largest companies, proposed giving him access to $1.3 billion in credit to acquire other businesses and compete for major contracts, according to AfroTech.
The bank had a specific expansion plan in mind. It offered to provide a mergers and acquisitions specialist to help him purchase companies in industries such as hospitality, flooring, lighting, and furniture. The bank also believed his business experience, television presence, and background as a minority entrepreneur could help him secure contracts through minority business initiatives. With the bank’s financial backing, he could have expanded into several industries and pursued deals that might have brought in significant profits.
But the potential earnings were not his only consideration. John estimated that accepting the offer could mean committing to 20 years of work and overseeing about 20,000 employees. He also thought about the seven or eight homes he already owned and how little time he had to enjoy them. His youngest daughter, who was 9 at the time of the interview, was another important factor in his decision.
The entrepreneur also remembered how his demanding career affected his relationship with his two older children, who were 31 and 26 during the interview. He said he had missed much of their childhood because he was busy working and did not want to make the same choice again. He questioned whether taking on another enormous responsibility was worth it just to gain more wealth or appear successful. As he explained on the podcast, he could rent a yacht when he wanted one without having to build an empire to own it.
His experience led him to encourage others to think carefully about why they pursue success. He said business owners should focus on what drives them, whether that means solving problems, helping people, or bringing others joy. For John, turning down the credit line was about choosing how he wanted to spend his time rather than chasing another financial milestone. He made it clear that entrepreneurship can still be rewarding, but he wants his work to align with his priorities.