Dame Dash, the legendary figure in the music industry, is in deep financial water.
- His assets, including a share in Roc-A-Fella Records, are being sold to manage debts.
- Despite selling for $1 million, Roc-A-Fella’s stake just scratched the surface of his obligations.
- Debts include substantial amounts owed for child support and state taxes.
- Key works from his production company might soon go under the hammer to appease creditors.
Dame Dash is amidst significant financial stress, leading to the potential auctioning of his assets. His struggle was highlighted when his ownership in Roc-A-Fella Records sold for $1 million at a federal auction last month, a move that barely began to mend his massive financial issues.
This sale was driven by numerous judgments against Dash, such as the award of $823,284.71 to filmmaker Josh Webber and Muddy Water Pictures. These legal troubles stem from disputes over unpaid debts and Dash’s alleged interference with the film ‘Dear Frank’. The money from the sale was quickly appropriated among various creditors.
Among the debts addressed, New York City received $193,877.57 for Dash’s overdue child support, while $1,702,626.34 was set aside for his hefty state tax debt that climbs above $8 million. Still, Webber, Muddy Water Pictures, and others, including photographer Monique Bunn and writer Edwyna Brooks, have yet to see their dues.
Court filings reveal that his financial woes might deepen as his business, Poppington LLC, and copyrights to several films he produced, could also be auctioned. These works, like ‘We Went to… China’, ‘Welcome to Blackroc’, and ‘Honor Up’, are vital components of Poppington LLC and are broadcast on Dash’s America Nu television network.
The financial and legal issues highlight the tangled web of obligations Dash faces. Creditors with high-priority claims, such as New York State, are expected to receive precedence in any distributions. Meanwhile, Dash’s position as a media entrepreneur seems precarious, with significant portions of his work possibly slipping away as he tries to settle his debts.
With Roc-A-Fella Records’ sale as a symbol of his dwindling finances, this could be just the beginning of his challenging journey towards financial recovery.
Dame Dash is facing a tough road ahead, with critical assets possibly lost to auction as he grapples with overwhelming debts.
