Danny Masterson owns or co-owns eleven restaurants. One is a Korean barbecue restaurant, Shin, located at 1600 Wilcox Avenue, Los Angeles, CA. He is a co-owner both Dolce (located at 8284 Melrose Ave, Los Angeles, CA), and Geisha House (located at 6633 Hollywood Boulevard, Los Angeles, CA), restaurants he founded with That '70s Show co-stars Ashton Kutcher and Wilmer Valderrama, who are also his close friends. He also owns a boutique called (located at 4661 Hollywood Boulevard, Los Angeles, CA) with longtime friend Ilaria Urbinati. Confederacy features quality selection of designer clothing for both men and women, accessories, beauty products, artwork and photography, in-store events, and a coffee shop. Masterson owns a lounge and bar in Park City, Utah called , located at 625 Main Street. He often visits Park City to vacation and DJ at Downstairs.
Masterson still models occasionally, and he has been on the covers of many magazines, including Paper Magazine and YRB Magazine.
He is also a well-known poker enthusiast, stating "The most I've lost is a couple of grand and the most I've won is a lot more than that." He appeared as part of a poker team, the Unabombers, at a Poker Royale: James Woods vs. the Unabombers tournament on GSN. He has also hosted celebrity poker events, such as the Phat Farm Stuff Casino Weekend Poker Tournament, in which he won the tournament. Masterson, his brother Chris, and his That '70s Show costar Laura Prepon are all investors in Card Player magazine.