Vaynerchuk was born in Babruysk in the Soviet Union (today part of Belarus), and immigrated to New York City in the United States in 1978 at the age of three. He is of Ashkenazi Jewish descent. Growing up, Vaynerchuk lived in New York City's Queens borough and later moved to Edison, New Jersey. At age 14, he joined his family's retail-wine business. After his family moved, he graduated from North Hunterdon High School. In 1998, Vaynerchuk graduated with a bachelor's degree in management science from Mount Ida College in Newton, Massachusetts.
Vaynerchuk co-founded restaurant-reservation app Resy, which was acquired by American Express in 2019. He is also a co-founder of winery Empathy Wines, which was acquired by Constellation Brands in 2020. Vaynerchuk is the creator and founder behind the VeeFriends non-fungible token series.
After graduating from college in 1998, Vaynerchuk took charge of his father's liquor store, Shopper's Discount Liquors. He renamed the store Wine Library, launched sales online, and in 2006 started Wine Library TV, a daily webcast on YouTube covering wine. He grew the business from $3 million a year to $60 million a year. In August 2011, Vaynerchuk stepped away from the wine business to build VaynerMedia, a digital ad agency.

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