Business leader and entrepreneur Daymond John will receive the ISPA Alex Szekely Humanitarian Award at the 2018 ISPA Conference and Expo this September.

The award honours individuals who contribute to the overall wellbeing of others and encourage the renewal of mind, body and spirit. John is receiving the award because he has been an advocate for improving the lives of others through socially conscious entrepreneurship.

In 1992, John founded FUBU, a fashion brand created to target African-American consumers ignored by traditional fashion brands. Since then, the company has earned over US$6bn (€5.2bn, £4.5bn).

In 2009, he became a cast member on US television programme Shark Tank, where he listens to business pitches from aspiring entrepreneurs, offers feedback and invests his own money to help these entrepreneurs turn their dreams into reality. Among the companies that John has invested in is Bombas, a sock manufacturer who donates a pair of socks for every pair sold.

John’s books and inspirational speeches have helped countless entrepreneurs and everyday people improve their lives and careers. He recently built a 17,000sq ft (1,600sq m) creative incubator and workspace, Blueprint + co, to continue helping aspiring business leaders accomplish their dreams.

“Through his business successes and philanthropic efforts, Daymond has positively changed countless lives,“ said ISPA President Lynne McNees, adding that John “embodies the spirit of giving” that defines the spa industry.

Initially named the ISPA Humanitarian Award, it was renamed in 2002 to honour spa industry pioneer Alex Szekely. Winners are voted on by the ISPA board of directors. Previous winners have included Dr Maya Angelou, Sir Sidney Poitier and Peyton Manning, who received the award last year.