Fact check: An investor offered $500,000 for a 10% stake in a company owned by Darrell Spencer.

Verdict: mostly true — Trust Score 80/100

The business deal described reported by Primetimer, Beauty Independent, and official Shark Tank updates. While the investment terms and investor's background are accurate, the claim that Rashaun Williams is a 'billionaire' is an exaggeration, and the high school attributed to the founder appears to be incorrect.

Platform
instagram
Source author
iamdarrellspencer — see all fact-checks of this account
Original post
https://www.instagram.com/reel/DX2kcMYtYSL/?igsh=MTlzMWVqY3RwYnR0Zw==
Verified on
May 16, 2026
Verification ID
pHG0Bq5CIOIWywSZv1ibhw

Original content reviewed

Platform: INSTAGRAM Author: @iamdarrellspencer --- Caption/Description --- Grateful to have closed this deal. 👑🙏🏽 Thank you God for every door that you open! --- Audio Transcript (What was said) --- Daryl, you ready to do a deal, man? Absolutely. I got to have to deal for you, but I'm not going to negotiate it. I'm just going to give you this offer. I already know it's a good offer. So I'm just going to wait for you to say yes. Here's my offer for you. You're from the same place I'm from. Your story is very similar to mine. I'm from the South side of Chicago. I went to Hyde Park High School. What's your offer? I'm going to tell you, but I'm going to tell you why this is personal for me and why I could pay better than you. My father was a drug addict. My mom was on welfare, but I went back to Chicago, started a nonprofit to teach financial literacy and worked at Goldman Sachs downtown, worked at Wachovia downtown. And I love your story and I connect to you. Here's what I want to do for you. I will give you your 500,000 and I only want 10%. I do need $1 royalty until I get two times my money back, which should be at the end of next year based on your sales projections. And in return, what I will do for you, I already have six names that I want to introduce you to. And of course me, I'll help you with influencers and financing and any additional rounds you need to raise. And I withdraw my offer and I'm going to kill you if you don't say yes immediately. Wait a sec. I just want to say I went to Barton Field High School in Champaign-Urbana, close to Chicago. Well, that changes everything. Rashan, you got a deal, brother. Let's go. Wow, this is so happy. Let's go, my man. Congratulations. I'm excited, man. I appreciate you. You did a great job. I'm so excited. Your growth, it speaks for itself. You got me out here smelling good now. Thank you so much. Have a good one. Thanks guys. I appreciate you. --- On-Screen Text (OCR) --- Black Billionaire Investor Reveals Why

Claims analyzed (6)

  1. verified: An investor offered $500,000 for a 10% stake in a company owned by Darrell Spencer.
    Darrell Spencer, founder of Crowned Skin, appeared on Shark Tank Season 17, Episode 17 (aired April 15, 2026) and accepted this exact offer from guest shark Rashaun Williams.
  2. verified: The investment terms include a $1 royalty until $1,000,000 is paid back to the investor.
    Official recaps of the Shark Tank episode confirm the royalty structure of $1 per unit until $1 million is recouped.
  3. verified: The investor claims to have worked at Goldman Sachs and Wachovia in downtown Chicago.
    Rashaun Williams' professional biography consistently lists Goldman Sachs, Wachovia Securities, and Deutsche Bank as his former employers.
  4. mixed: The investor claims to be a billionaire who outbid the Sharks for this deal.
    While Williams 'outbid' the regular Sharks by offering more favorable equity terms (10% vs 20%), his status as a billionaire is unverified. Financial records from 2025 estimate his net worth at $150 million, and recent media refers to him as a 'future billionaire'.
  5. verified: The investor started a nonprofit in Chicago to teach financial literacy.
    Rashaun Williams founded the Kemet Institute in 2001, which provides free financial literacy education to underserved communities.
  6. false: Darrell Spencer attended Barton Field High School.
    Darrell Spencer's official biography and alumni records state he attended Chicago Bulls College Prep. No record of a 'Barton Field High School' exists in Chicago.

Sources consulted (8)

Related verifications

AI-generated analysis. Not a substitute for professional fact-checking.