Shark Tank‘s Daymond John Welcomes Daughter Minka Jagger

03/04/2016 at 09:45 PM ET

Daymond John Welcomes Daughter Robin Marchant/Getty

Talk about a long-term investment!

Daymond John, of ABC’s Shark Tank, and his longtime girlfriend welcomed daughter Minka Jagger John on Wednesday, March 2, his rep confirms to PEOPLE.

“The baby was born happy and healthy. Daymond and his longtime girlfriend are very excited and a little tired, but looking forward to all the happy times that are ahead,” his rep tells PEOPLE.

The new addition is John’s third child as the FUBU founder has two children from a previous relationship.

Once the family settles in with their newest addition, John, 47, certainly has a lot he can teach the youngster about work ethic and building an empire, much of which he learned from his own mother.

“I had a great relationship with my mom. I couldn’t let her down,” he told PEOPLE in August. “She held down two and three jobs at a time. I always saw her working and I wanted to work. There was never a job I didn’t like.”

That’s not the only happy news for Shark Tank this week. Cast mate Robert Herjavec popped the question to his former Dancing with the Stars partner Kym Johnson with a 6.5 carat emerald cut diamond.

“It was a really magical moment,” the bride to be told PEOPLE exclusively. “I was just so happy.”

— Naja Rayne with reporting by Janine Rubenstein

FILED UNDER: Births , Daymond John , News

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Showing 11 comments

Reading is Fundamental on

The baby’s name is so pretentious.

Julie on

So happy for Damion and his little one. Congratulations and enjoy the years, for they will go fast.

Also congrats to Robert on his engagement! May you and Kym be very happy for many many years.

Mia on

Congratulations to Damon and family! Babies are the most beautiful blessings. I like the name Minka.

@Reading is Fundamental… what about the babies name is pretentious? There are actual people that have both the name Minka and Jagger, are their names also pretentious or just this baby’s? People like you clearly have no joy in life and it’s quite funny.

slk on

The use of Jagger is getting obnoxious! Minka? I think of a fur coat or a furry little animal,

Anonymous on

Congratulations to them!

Tina on

Very happy for them. Congrats.

Trevor on

Nice to see someone with a WORK ethic, not a Ferguson ethic.

kite on

Apparently being judgmental is fundamental to your existence. I agree that it is refreshing seeing someone have a good work ethic leads to success versus a Ferguson ethic

Audrea on

Minka Jagger John is a cute name! So happy for them.

Rudy on

What is a Ferguson ethic? You people really need to get real.

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