Damon Dash has a net worth of $100,000.
Damon Dash has a net worth of $100,000 and is an American record producer, entrepreneur, and music executive. Damon has had a number of reported financial issues in recent years, unlike his former partner Jay-Z, who is now a billionaire. Damon told a New York judge in late 2019 that he was too broke to pay child support, with creditors garnishing the majority of his earnings. Throughout this article, we’ll go over his financial background.
Damon Dash is best known for co-founding the Roc-A-Fella Records record label. Dash and rapper Jay Z co-founded Roc-A-Fella Records. He also co-founded two clothing lines with Jay-Z, including Rocawear. Rocawear grew into a highly profitable brand that was eventually sold for hundreds of millions of dollars. Damon used his clout to expand into several other industries and businesses when business was booming. Damon dabbled in filmmaking, marketing, merchandise, and talent representation. His production company was responsible for a number of notable films, including Kevin Bacon’s “The Woodsman” and Mekhi Phifer’s “Paid in Full”
Damon Dash was born in Harlem, New York, on May 3, 1971, and attended private schools in the city. He recognised his musical calling at a young age. In order to afford sneakers and t-shirts as a teenager, he would sweep floors at a local barbershop and sell newspapers. Damon “learned to hustle” from his mother, who tragically died of an asthma attack when he was only 15 years old.
Dash and rapper Jay Z co-founded Roc-A-Fella Records. Dash was Jay-business Z’s partner and former manager at Roc-A-Fella Records. Dash organised a tour for Jay-Z in 1999 that grossed $19 million dollars. Damon’s net worth reached an all-time high of $50 million as Roc-A-Fella Records grew in popularity. Regrettably, the good times did not last indefinitely. After Roc-A-Fella Records was purchased by Def Jam Recordings in 2004, Jay Z and Damon’s relationship soured. Jay Z eventually agreed to become the president of Def Jam. Jay-Z bought Dash out of his Rocawear stake in late 2005. Because of these events, their relationship was officially declared over.
His success as a record producer led him to venture into other fields, 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 expand 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 producer. Damon Dash also founded DD172, a media collective that includes American Nu, a magazine, VNGRD79, an art gallery, and BlueRoc Records, a record label division.
From 2000 until her death in a plane crash in August 2001, he was in a relationship with R&B singer Aaliyah. Dash has stated in interviews that the couple had plans to marry even though they were not officially engaged. From 2005 to 2009, Damon was married to Rachel Roy. He first met Rachel Roy while she was an intern at Rocawear. Ava Dash (born in 1999) and Tallulah Dash (born in 2000) are their two daughters (born in 2008). When the couple divorced in 2009, they had a contentious custody battle over their daughters. Roy accused Dash of domestic violence and received sole custody, a three-year restraining order, and substantial financial support.
Dame “Boogie” Dash, Dash’s son, was born in 1991. His son is with his ex-girlfriend Linda Williams. Growing Up Hip Hop, a WE Tv reality show, features Boogie. As of April 2020, Dash is engaged to his pregnant fiancee, film producer Raquel Horn.
Dash revealed to a judge during his divorce proceedings from Roy that he owed $2 million in back taxes and was facing foreclosure on two New York City apartments. He was also being sued for nonpayment by several NYC law firms and other creditors. After failing to make the $700 monthly payments, his Chevy Tahoe was repossessed. Dash was evicted from his $9 million Tribeca, New York home, which was later sold for $5.5 million in foreclosure. In the meantime, Jay-Z sold Rocawear to Iconix Brand Group for $219 million. Dash was ordered to pay $50,000 to Linda Williams, the mother of his son Boogie, in 2014 for causing her to be charged with harassment in 2009. Damon Dash owes the state of New York $4.14 million in back taxes, according to documents released in August 2015.
Damon filed a court petition in September 2019 to stop paying child support. Damon agreed to pay $6000 per month in child support during the divorce proceedings, which would last until the daughters turned 18 years old. Damon claimed in his court filing that he earned $56,000 in 2018, while Rachel allegedly earned more than $500,000.
Dash was arrested in November 2019 for failing to pay $400,000 in child support. Dash is said to have paid over $1 million to be released. Damon filed legal documents later that month, claiming he was broke again and couldn’t afford to pay a $2,400 personal debt. This time, he claimed that his only source of income is his own company, which is currently losing money. He also revealed that he received $2 million in a lawsuit settlement from producer Lee Daniels, but that the money was garnished by creditors. Dash was ordered to pay Rachel Roy $341,991 plus $25,000 in attorney fees in March 2019.