Damon Dash Biography:
Damon Dash was born on May 3, 1971, in Harlem, New York, and was once one of Hip-most Hop’s successful moguls. Damon’s net worth soared to an all-time high of $50 million as Roc-A-Fella Records became increasingly popular. Regrettably, the good times did not last indefinitely.
Dash went to private schools in New York and knew he wanted to be a musician since he was a child. His success as a record producer led to him branching out into other areas, where he was equally successful. He co-founded Rocawear with Jay-Z, a highly profitable clothing line that was eventually sold for hundreds of millions of dollars.
Damon used his clout to branch out into several other industries and businesses when business was booming. Damon went on to work in film production, marketing, merchandise, and talent management in the future.
His production company was responsible for a number of notable films, including Kevin Bacon’s “The Woodsman” and Mekhi Phifer’s “Paid in Full.” Dash also appeared in both films, though his role was primarily that of the producer. Damon Dash is currently launching a new clothing line as well as an oil company.
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In 2022, will Dame Dash’s Net Worth reach $10,000?
Dame Dash’s net worth was estimated to be $2 million in 2019-2020, but it has since dropped to $10,000 in 2022. Dame, unlike his previous partner Jay-Z, has had a string of financial problems in recent years.
What Happened to Dame Dash’s $50 Million?
- Dame Dash was previously valued at $50 million, but he is now deeply in debt. Due to a lack of cash, his many homes were repossessed.
- Following his divorce with Roy, Dame was forced to pay child support for his two children. Following that, he asked the judge to reduce his payments since he was having financial difficulties.
- However, he was caught in 2019 and was ordered to pay $1 million in child support. After a few months, he claimed that he was unable to pay a $2,400 personal debt. He only had one source of income at the moment, from which he made nothing.
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Career
In 1992, Dame met Jay-Z, a young up-and-coming rapper from Brooklyn, and the two became fast friends, eventually founding Roc-A-Fella Records with Kareem Burke in 1996.
- Jay Z and Dash were close business partners soon after starting their firm, and Dash even functioned as Jay-manager Z’s for a while.
- Despite the fact that they were on their way to success with Jay-soon-to-be-released Z’s debut album, ‘Reasonable Doubt,’ their relationship quickly fell apart.
- Following the company’s purchase of Def Jam Recordings and Jay-purchase z’s of Dash’s stakes in his Rocawear company, the two parted ways.
- Damon Dash met Shawn Carter, a talented rapper from Brooklyn who went by the stage name Jay-Z, in the early 1990s. In 1995, the trio teamed up with Kareem “Biggs” Burke to form Roc-A-Fella Records in reaction to the dismal reception of big record labels.
- Reasonable Doubt, Jay-debut Z’s album, was released under the label and sold 500,000 copies. Soon after, he signed a joint-venture arrangement with Def Jam Records, which brought in additional artists including DMX, Red Man, and Method Man.
- Damon Dash, not one to throw away his newfound wealth, expanded his Roca-A-Fella empire to include other businesses. In 1998, he founded Roc-A-Fella Films to produce urban films and hip-hop documentaries like Backstage, which increased his net worth even further.
- In 1999, he and Jay-Z founded Rocawear, a hip-hop-inspired apparel line aimed towards urban men. By the year 2000, Rocawear’s sales had surpassed $100 million, placing it in direct rivalry with Tommy Hilfiger and Calvin Klein.
- After selling his holdings in Rocawear in August 2005, he stopped his engagement with the Roca-A-Fella business. He subsequently focused his efforts on managing his other businesses, which included Dash-DiBella Promotions, Tiret New York, Pro-Keds, Armadale Vodka, and others at the time.
- He also formed DD172, a media collective that included an art gallery, a magazine (America Nu), a record label (BluRoc Records), and a web design business (VNGRD79).
Scandals & Controversies
Damon Dash has courted controversy throughout his life due to his aggressive and outspoken character. His feud with Jay-Z over Roc-A-Fella Records and later Rocawear has been widely known.
- In 2008, foreclosure proceedings were started on two of his Manhattan houses, claiming that he and his wife owed a total of $7.3 million on the two homes. In 2012, rapper Curren$y filed a $1.5 million lawsuit against him for allegedly publishing the rapper’s songs without authorization.
- In 2009, the court ordered him to pay $500,000 to his son Boogie’s mother. In 2015, his ex-wife, Rachel Roy, filed a restraining order against him for domestic abuse, which was upheld by the court.
- He was arrested in 2019 while appearing in New York City Federal Court for a separate matter for failing to pay more than $400,000 in child support to two distinct claimants. Damon Dash is believed to have had to pay close to $1 million to get released.
Personal & Family Life
Damon Dash was born in New York City on May 3, 1971. At the age of 15, he lost his mother. To acquire clothing and footwear as a youngster, he peddled newspapers and cleaned the floors of local Harlem barbershops; he learned to “hustle” from an early age, as he likes to describe it.
He dated Aaliyah, an R&B artist whom he met in 2000. Until Aaliyah’s unfortunate death in 2001, the two were a relationship. He married fashion designer Rachel Roy in 2005, and the pair has two kids, Ava and Tallulah. They divorced in 2009 following a tumultuous divorce and custody struggle.
Damon Dash has two boys outside of his marriage: Dame “Boogie” Dash (born in 1991) with Linda Williams and Lucky (born in 2005) with Cindy Morales.
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