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Dame Dash, the co-founder of Roc-A-Fella Records, recently took to Instagram on August 21, 2024, to share his financial situation. He started the video by stating that somebody asked him how he got so broke, and the entrepreneur said he invested in his dreams.
Explaining his definition of broke, Dame Dash stated:
"You know, when you're investing in your dreams, and you dream big, you're always gonna be broke…or have a lot of shit. But I don't have no money for nobody else. That's what you call broke. But that's what it is."
Dame's video garnered a lot of attention from internet users who took to the comment section of his Instagram post to express their opinion on the entrepreneur calling himself broke. One of the netizens sarcastically commented:
Trending
'Rich man problems, he lived his life among the .1 percent he should be thankful."
Moreover, Dame's post received positive as well as negative comments, wherein his fans stated that Dame could never go broke, given he has helped multiple artists.
"I don't know how deep homie's pockets is" - Dame Dash indirectly comments on Roc-A-Fella co-founder Jay-Z
It is speculated that Dame Dash's recent Instagram post about his financial condition came after his Roc-A-Fella shares were about to be auctioned by US Marshals to cover a $823,000 judgment stemming from a defamation and copyright lawsuit filed by producer Josh Webber in 2022.
Talking about who might buy out his shares, Dame Dash took to Instagram Live on August 21, 2024, and mentioned that he doesn't expect anyone particular but just "some average person" to buy his third of the sales as he doesn't want to be sued again. He stated:
"I know, for some reason, nobody wants me to sell it, but I'm ready to just move on, do my thing. I had a lawsuit, I had a judgement, and I'm like, 'Yo, that's 800 grand. Go get it from over there. They not paying me neither."
Moreover, Dame Dash also talked about Roc-A-Fella Jay-Z and Kareem Burke calling an emergency meeting to block potential buyers and stop Dame from selling his shares. The entrepreneur mentioned in his Instagram Live that the first right of refusal rests with Jay-Z; however, the board meeting won't slow down anything for him. Dame stated:
"Now I don't know how deep homie's pockets is. I'm curious if he's gonna match that. I put an offer on the table. Lemme see if he'll match it. But it was from other people."
The lack of buyers for the Dame's stake of shares in Roc-A-Fella comes from the company's stipulations, as communicated by an unnamed source to Billboard on August 1, 2024. The source told the publication that whoever buys Dame's stake in the company will be a "minority owner without authority over any decision-making."
The 2022 case by film producer Josh Webber, resulting in Dame's Roc-A-Fella shares being sold, claimed that while Dame Dash worked on Josh's movie Dear Frank, he tried to sell the movie as his own and pitched it to multiple companies under a different title.
The plaintiffs of the case were awarded more than $800,000, after which Josh Webber accused Dame Dash of refusing to pay the sum, resulting in the court going after the entrepreneur's Roc-A-Fella shares.
