Pete Davidson is making his return to reality television. The one-time Kardashians (and Saturday Night Live) star appears on the Shark Tank season 17 premiere this month, where he'll look to cash in on his sock company.
In a clip shared by People, Davidson appears on the ABC series in his role as creative director of DoubleSoul. The sock company was founded by Ben Rosenbaum in an effort to combine athletic and novelty socks into a single product. Rosenbaum managed to get Davidson on board by sending him a free sample.
"I get sent a lot of crap, and I usually give it to my cousins,” Davidson told the Shark Tank investors. “I got sent DoubleSoul [socks] a couple years ago, and I had to meet the team, and I wanted to be involved immediately.”
Davidson asked for $500,000 in exchange for 4% equity in DoubleSoul. That calculates to a $12.5 million valuation, making it a big ask for Sharks Robert Herjavec, Lori Greiner, Kevin O’Leary, and guest Sharks Kendra Scott and Rashaun Williams.
Fans can find out if any of the Sharks bite on Davidson's offer when season 17 premieres on September 24.
The Saturday Night Live alum's involvement with DoubleSoul is another high-profile business deal for Davidson. He famously purchased a decommissioned Staten Island ferry with Colin Jost. The two planned to turn the ferry into a comedy venue, theater, restaurant, and hotel. So far, Davidson has mostly played the investment for laughs, suggesting he's in the hole financially from the purchase.
Landing a deal on Shark Tank could reverse his fortune while adding to his bottom line. It's unclear how big of a stake Davidson has in DoubleSoul or what he stands to gain from an equity sale. According to Celebrity Net Worth, Davidson's current net worth is $4 million.
In addition to his television, film, and stand-up gigs, Davidson earns a portion of his income through endorsement and marketing deals. The comedian has appeared in ads for Taco Bell, Verizon, and Axe.