Damon Dash: A Closer Look At The Man Behind The Music

What's the Story Behind Damon Dash's Net Worth?

Let me tell you about Damon Dash. This guy, an American record producer, entrepreneur, and music executive, has a net worth that hovers around $100 thousand. Now, compare that to his former partner Jay-Z, who's a billionaire these days, and you see a stark contrast. Over the years, Damon has faced some pretty tough financial challenges. In late 2019, for instance, Damon appeared before a New York judge claiming he was so broke he couldn't even afford child support. Most of his income was being eaten up by creditors. And just this past September, Damon voiced concerns that Jay-Z was interfering with an auction for his share of the album "Reasonable Doubt." Because of this, Damon's ability to pay the $130,000 in child support and millions in back taxes he owes to the state of New York and the IRS is at risk. Throughout this piece, we'll delve deeper into his financial rollercoaster.

Damon Dash is best known for co-founding Roc-A-Fella Records alongside the legendary Jay-Z. Together, they also started two clothing lines, including Rocawear, which became a massive hit and eventually sold for hundreds of millions of dollars. In his heyday, Damon leveraged his influence to expand into other industries like film production, marketing, merchandise, and talent management. His film company churned out some memorable flicks, such as "The Woodsman" starring Kevin Bacon, and "Paid in Full" featuring Mekhi Phifer. It's clear that Damon's ambitions weren't limited to just music.

Financial Woes: The Bumps in Damon Dash's Journey

Legal Battles and Financial Setbacks

In 2014, Damon was slapped with a $50,000 fine for causing Linda Williams, the mother of his son Boogie, to be prosecuted on harassment charges back in 2009. Around the same time, it came to light that Damon owed a staggering $4.14 million in back taxes to the state of New York. Things weren't looking good for him financially.

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During his divorce from Rachel Roy, Damon revealed some grim financial details to the court. He admitted to owing $2 million in back taxes and was facing foreclosure on two New York City apartments. To make matters worse, he was being sued by several NYC law firms and other creditors for non-payment. At one point, his Chevy Tahoe was repossessed because he couldn't keep up with the $700 monthly payments. Eventually, Damon was forced to vacate his $9 million Tribeca home, which was sold in foreclosure for just $5.5 million.

Child Support and Financial Disputes

In September 2019, Damon petitioned a court to end his child support payments to Rachel Roy. During their original divorce proceedings, he agreed to pay Roy $6,000 per month in child support, which was supposed to continue even after their daughters turned 18. In his court filing, Damon claimed that in 2018, he earned a measly $56,000, while Rachel reportedly earned over half a million dollars.

In March 2019, Damon was ordered to pay Rachel Roy $341,991 and an additional $25,000 for attorney fees. Things took another turn for the worse in November 2019, when Damon was arrested for failing to pay $400,000 in child support. Reportedly, he coughed up over a million dollars to secure his release. Later that month, Damon filed legal documents claiming he was once again broke and couldn't afford to pay a $2,400 personal debt. He stated that his only source of income was his own business, which, at the time, was generating zero profit. Interestingly, he revealed that he received $2 million from producer Lee Daniels as part of a lawsuit settlement, but the money was quickly seized by creditors.

Fast forward to January 2024, and Damon found himself back in court, this time seeking a reduction in his child support obligations. According to his filing, he only made a total of $5,140 the previous year and could barely afford to pay $430 per month in child support.

Roc-A-Fella Share Auction: A Key Moment in Dash's Career

Through all the ups and downs, Damon never sold his 33.3% stake in Roc-A-Fella Records. That changed in July 2024, when it was announced that his stake would be auctioned by the U.S. Marshall's service to settle an $800,000 civil judgment related to a copyright and defamation case won by a film director in 2022. Roc-A-Fella Records still holds the rights to Jay-Z's iconic "Reasonable Doubt" album, which is listed as the company's most valuable asset. The minimum bid for Dash's 33.3% stake was set at $1.2 million.

In September 2024, Damon took to social media to accuse Jay-Z of sabotaging the auction, which he claimed caused the potential value of his 33.3% stake to plummet. As a result, Damon feared he wouldn't be able to afford the $130,000 he owes in child support and the millions in back taxes. Even the New York City Department of Social Services chimed in, criticizing Jay-Z's actions and emphasizing that whoever buys the rights will own them until 2098, not 2031 as some had suggested online.

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Legal Issues: The Other Side of the Coin

In 2012, rapper Curren$y sued Damon Dash for $1.5 million, alleging that Dash released music without his permission. Dash's attorney fired back, stating that the music was released legally and by the book.

In June 2022, a lawsuit between former Roc-A-Fella Records co-owners Jay-Z and Damon Dash was settled. The dispute arose when Dash attempted to sell his percentage of ownership of the label's debut album, "Reasonable Doubt," as an NFT. The year before, Jay-Z had placed a restraining order to block Damon's efforts.

Early in 2023, Dash was largely cleared of a sexual assault allegation by a federal jury. Monique Bunn had sued him in 2019, claiming he inappropriately touched her while she was sleeping at his house during a video shoot. The lawsuit initially sought tens of millions of dollars, but jurors awarded Bunn just $30,000 in damages after determining Dash wasn't liable.

Growing Up: Damon Dash's Early Life

Damon Dash was born Damon Anthony Dash on May 3, 1971, in Harlem, New York. He attended private schools in the city and discovered his passion for music at an early age. As a teenager, he worked odd jobs, sweeping floors at a local barbershop and selling newspapers to afford sneakers and t-shirts. Damon often credited his mother for teaching him how to "hustle," but tragically, she passed away from an asthma attack when he was just 15.

A Career in Music and Beyond

Damon Dash's career in the music industry began when he co-founded Roc-A-Fella Records with rapper Jay-Z. Dash served as Jay-Z's business partner and former manager, playing a pivotal role in the label's success. In 1999, he organized a tour for Jay-Z that brought in a whopping $19 million. As Roc-A-Fella Records skyrocketed in popularity, Damon's net worth peaked at $50 million. However, the good times didn't last forever. After Roc-A-Fella Records was acquired by Def Jam Recordings in 2004, Jay-Z took the helm as president of Def Jam, straining his relationship with Dash. By late 2005, Jay-Z had bought Dash out of his stake in Rocawear, effectively ending their partnership.

Other Ventures: Expanding the Dash Empire

Damon Dash's success as a record producer opened doors to other industries where he also found success. He co-founded two clothing lines, including the highly profitable Rocawear with Jay-Z, which eventually sold for hundreds of millions of dollars. During his peak, Damon used his influence to branch into various fields such as film production, marketing, merchandise, and talent management. His film company produced notable films like "The Woodsman" and "Paid in Full," and Damon even made appearances in these films as an actor, though his primary role was as a producer. He also launched DD172, a media collective encompassing a magazine called "American Nu," a web design firm named VNGRD79, an art gallery, and a record label division called BlueRoc Records.

Relationships: Love and Family

Damon Dash's personal life has been just as eventful as his professional one. He was in a relationship with R&B singer Aaliyah from 2000 until her untimely death in a plane crash in August 2001. Although they weren't officially engaged, Dash has mentioned in interviews that they had plans to marry. Damon was married to fashion designer Rachel Roy from 2005 to 2009. They met when Rachel was working as an intern at Rocawear. Together, they had two daughters, Ava Dash (born in 1999) and Tallulah Dash (born in 2008). Their divorce in 2009 led to a bitter custody battle, with Roy accusing Dash of domestic abuse. She was awarded sole custody, a three-year restraining order, and significant financial support.

Dash also has a son, Dame "Boogie" Dash, born in 1991, with his former girlfriend, Linda Williams. Boogie stars in "Growing Up Hip Hop," a reality show on WE tv. In more recent years, Dash and his fiancée, film producer Raquel Horn, welcomed a son, Dusko Dash, born on November 14, 2020.