Dame Dash breaks down why he’s been calling himself ‘broke’ and what it really means. Here’s a quick dive into the music mogul’s financial situation and what’s behind it:
- Dame Dash attributes his financial struggles to chasing big dreams.
- He claims his income was drastically affected by the COVID pandemic.
- Dash is auctioning off his stake in Roc-A-Fella Records to pay off a debt.
- He doesn’t plan on sharing his money with anyone else, hence the ‘broke’ label.
- Dash has been vocal about his financial state on social media platforms like Instagram.
Dame Dash has been very candid about his financial situation, describing himself as ‘broke’ in recent years. Speaking out on Instagram Live, he explained that his current state is due to constantly investing in his dreams. ‘You know, when you’re investing in your dreams and you dream big, you’re always gonna be broke,’ he said, adding that while he has a lot of things, he doesn’t have money for anyone else.
The COVID pandemic significantly impacted Dash’s income, which he claims has not yet recovered. His business ventures have been struggling, and in January, he asked the court to reduce his child support payments to $428 a month, saying that’s all he can afford.
The embattled mogul’s finances have also been strained by legal issues. Earlier this month, it was reported that his stake in Roc-A-Fella Records will be auctioned off to satisfy an $823,000 debt to movie producer Josh Weber. Dash was sued for copyright infringement and defamation over the 2016 film Dear Frank.
Dash has been open about his financial woes, often discussing them on social media. He mentioned that while people might think he’s broke, his financial decisions are intentional. ‘If that’s what you call broke. But that’s what it is.’
Moreover, Dame took a jab at his former business partner JAY-Z regarding the sale of his Roc-A-Fella shares. Curious about JAY-Z’s financial power, he commented on Instagram Live, ‘Now I don’t know how deep homie’s pockets is. I’m curious if he’s gonna match that.’
The federal government will auction off Dash’s shares on August 29 to cover his debt. The minimum bid for his third of Roc-A-Fella Records is set at $1.2 million.
Dame Dash remains focused on his dreams despite financial struggles and criticisms.
