Dame Dash is making waves with a special offer for his shares in Roc-A-Fella Records. Here’s the lowdown on the intriguing twist and what it means for potential buyers.
- Dash is auctioning off his one-third stake in Roc-A-Fella Records.
- If the bid crosses $10 million, the buyer gets an original Roc-A-Fella chain.
- The sale is prompted by a nearly $1 million debt Dash owes.
- JAY-Z and Kareem “Biggs” Burke have opposed the auction.
- Ownership of ‘Reasonable Doubt’ reverts to JAY-Z in 2031, regardless of the auction outcome.
Dame Dash is rolling out a unique incentive as he auctions his one-third ownership of Roc-A-Fella Records. He revealed on Instagram that if the highest bid crosses the $10 million mark, the lucky buyer will receive an original Roc-A-Fella chain.
Dash announced on Instagram that only people who are serious should inquire about the sale, emphasizing the $10 million threshold for the chain offer. He appreciated the attention but made it clear where the bar is set.
In a video, Dash elaborated on the significant interest in his share of Roc-A-Fella Inc., which owns the ‘Reasonable Doubt’ asset. He pointed out that some offers were lower, likely in an attempt to devalue the stake, hinting at JAY-Z’s potential interest.
Dash stated, ‘If someone’s trying to hate on the price or trying to devalue it, it would be because they want to buy it.’ He added that anything over $10 million would get the buyer an original Roc-A-Fella chain straight from his neck.
The reason for the sale is a nearly $1 million debt Dash owes to film producer Josh Weber after losing a lawsuit over copyright infringement and defamation. The judge in that case mandated the sale to cover Dash’s debt.
JAY-Z and Kareem ‘Biggs’ Burke initially opposed the public auction, arguing it violated Roc-A-Fella’s bylaws. Despite these objections, the auction is set to proceed.
An interesting twist is that JAY-Z has filed to ensure ownership of his iconic 1996 album, ‘Reasonable Doubt,’ will revert to him by 2031, regardless of who wins the auction. However, Dash countered this claim on social media, stating, ‘They can say what they want, this shit is still for sale. You’re not buying a copyright, you’re buying a piece of a company ROC A FELLA INC.’
The minimum bid for Dash’s shares starts at $1.2 million, a figure set to cover his debt and potentially more. It remains unclear what will happen if the shares do not sell or whether JAY-Z and Biggs will make a bid themselves.
Dame Dash’s auction for his Roc-A-Fella shares promises drama and excitement, with a unique twist for serious bidders.
