Dame Dash Net Worth: Fortune explored as the record producer's Roc-A-Fella auction is postponed over financial disputes

Damon Dash, who goes by the stage name Dame Dash, will hold on to his Roc-A-Fella Records stocks as the auction gets postponed over financial disputes. On Tuesday, August 27, 2024, Judge Robert W. Lehrburger pushed the auction of the music executive's shares in the company to September 21.

The sell-off intends to cover $832,000 in damages that Dash owes movie producer Josh Webber. Webber along with Muddy Water Pictures sued the 53-year-old record producer for copyright infringement and defamation in 2022. The auction was initially scheduled for August 29.

However, per reports by Billboard, New York City and the State of New York jumped in on the situation, stating Dash owes $197,000 in unpaid child support and $8.7 million in tax debt, respectively. According to Judge Lehrburger, the delay would allow Webber more time to set a higher minimum bid price to divide the proceeds.

Per Celebrity Net Worth Dame Dash boasts a net worth of an estimated $100,000.

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Dame Dash co-founded Roc-A-Fella Records with Jay-Z and Kareem Burke in 1994

Dame Dash hails from New York and began his career doing odd jobs in the city. He rose to fame working as Jay-Z's manager and business partner. He co-founded Roc-A-Fella Records with Hov (a.k.a. Jay-Z) and Kareem Burke in 1994. The duo later founded the fashion brand Rocawear in 1999.

With Rocawear sales booming, Dash ventured into other industries and businesses, including film production and talent management. His company produced films like The Woodsman and Paid in Full. At the time, Dash's net worth peaked at $50 million.

However, over the years Dash experienced several financial and legal issues. His relationship with Jay-Z soured after Def Jam Recordings brought Roc-A-Fella in 2004. Hov was soon made the president of the label. He even brought Dash out of his stake in Rocawear a year later.

In 2012, rapper Curren$y sued the entrepreneur for $1.5 million over releasing music without permission. A couple of years later, he was ordered to pay $50,000 to Linda Williams over harassment charges from 2009. William is the mother of his son, Boogie.

Dame Dash married former Rockawear intern Rachel Roy in 2005. They pair share two daughters. Following their divorce in 2009, they were involved in a bitter custody battle.

During the proceedings, Dash revealed to the judge he owed $2 million in back taxes and two of his NYC apartments were about to be foreclosed. Additionally, several law firms and creditors sued him for lack of payments. At the time, his Chevy Tahoe had been repossessed, and he was forced to vacate his $9 million home in Tribeca.

In September 2019, Dame Dash requested courts to end his child support payments (to Roy), claiming he only made $56,000 as opposed to Rachel's $500,000 in 2018. Dash was eventually ordered to pay her $341,991 and $25,000 for attorney fees. In November of the same year, Dame Dash was arrested for failing to pay child support. At the time, Dash claimed he was broke.

Earlier this year, he again asked for a reduction in child support, stating he only made $5,140 last year and could only afford $430 in monthly payments.

Talking about the auction, Dame Dash's attorney, Natraj Bhushan, told Billboard:

"We look forward to upcoming court conference so that all interested parties can be heard and the court can decide who gets what, and in what priority from the forthcoming public auction."

To be noted, Jay-Z released his debut album Reasonable Doubt (1996) as Roc-A-Fella's first project. The label was dissolved in 2013. The album remains Roc-A-Fella's sole asset.

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On the other hand, recently, Hov and his team filed a notice that in 2031, the rights to Reasonable Doubt would officially go to him, regardless of who wins the auction. That means they would only get 1/3 of the album's revenue for the next 6 years.