"Damon Dash, the hip-hop mogul and record executive who co-founded Roc-A-Fella Records with Jay-Z and Kareem "Biggs" Burke, detailed dire financial straits as he filed for Chapter 7 bankruptcy last week. The 54-year-old New York native claimed in his voluntary petition, reviewed by The Times, that he is in debt to the tune of $25.3 million. The petition, filed Thursday in Florida, says Dash makes no monthly income and has $4,350 to his name - including $100 in cash, a $500 cellphone and two guns worth $750."
"The petition says he owes a total of $25,303,049.47 to as many as 49 creditors, with a majority of that (about $19.1 million) owed to the government in the form of taxes and other debts. He also owes nearly $648,000 in domestic support obligations to ex-wife Rachel Roy and ex-girlfriend Cindy Morales, the petition said. Dash and Roy were married from 2005 to 2009 and share two daughters. Dash shares a son with Morales, and has additional children from other relationships."
"The petition confirms reports that Dash's one-third share of Roc-A-Fella Records was auctioned to the New York Department of Taxation and Finance in August 2024 to help pay off his tax debt. Dash claims he is also owed a "possible" but unspecified amount of money from Burke, and also "unknown" amounts of money from his "possible" claims against actor Claudia Jordan, filmmaker Josh Webber and others he has battled in court."
""Dear Frank" filmmaker Webber and production company Muddy Water Pictures - also mentioned in Dash's petition - sued the music entrepreneur for copyright infringement and defamation in 2019. A jury sided with the filmmakers in the spring of 2022 and ordered Dash to pay more than $800,000 in damages, but tensions from that decision have dragged into 2025."
Damon Dash filed a voluntary Chapter 7 bankruptcy petition in Florida listing $25,303,049.47 in debts and no monthly income. The petition lists $4,350 in assets, including $100 in cash, a $500 cellphone and two guns valued at $750. Approximately $19.1 million of the debt is owed to the government for taxes and related obligations. Dash owes nearly $648,000 in domestic support to ex-wife Rachel Roy and ex-girlfriend Cindy Morales. Dash's one-third share of Roc-A-Fella Records was auctioned to the New York Department of Taxation and Finance in August 2024. Dash asserts possible but unspecified claims against Kareem Burke, Claudia Jordan, Josh Webber and others, while a jury previously ordered Dash to pay over $800,000 to Webber and Muddy Water Pictures.
Read at Los Angeles Times
Unable to calculate read time
Collection
[
|
...
]