It's no secret that Roc-A-Fella Records co-founder Damon Dash has had his fair share of legal woes. He was arrested in 2019 for unpaid child support, and now Jay Z's former manager has filed for chapter 7 bankruptcy in his home state of Florida, citing more than $25 million in debt with only $100 to his name.
Rolling Stone got a hold of his 56-page petition, filed September 4 in the U.S. Bankruptcy Court for the Middle District of Florida, where Dash claims he has no monthly income, no house, no car, no publicly-traded stocks, no retirement account, and around $4,350 in worldly possessions. The assets he does claim include two guns, furs, jewelry less than $2,500, designer clothing, TVs, computers, and various electronics, with only $100 cash in hand.
Dash stated in the filing that he doesn't own any buildings or residences, doesn't have a personal vehicle, and has no electronics beyond a cellphone valued at $500. Other assets listed in the filing include the above-mentioned items.
Dash made a name for himself working with Jay Z, co-founding Roc-A-Fella Records, with the rapper and Kareem "Biggs" Burke, in 1994, and Rocawear in 1999. He also played a huge part in promoting Kanye West and Cam'Ron early in their careers.
In the filing, Dash says his debt includes $19 million in back taxes owed in three states and a $4 million default judgement he owes for filmmaker Josh Webber for defaming him on a podcast. He also owes $650,000 in domestic support obligations to ex-wife Rachel Roy and Cindy Morales, both of whom are mothers to his children.
Dash posted about the filing Friday on Instagram. "Now let’s get to work #staytuned," the 54-year-old former record executive wrote in the post's caption. He also reposted a video of him playing with his four-year-old son Dusko, whom he shares with fiance Raquel Horn. In 2022, the couple bought a $1.2 million home, which Horn regularly shows off in Instagram photos. She is listed as the home's primary owner, according to records obtained by Rolling Stone.
Last August, Dash posted a video to Instagram to explain his money problems, saying he went broke after dreaming big and investing in himself.
"Somebody asked me how I got so broke. Investing in my dreams," Dame explained in a video shared on social media. "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."
Dash's money woes continued to worsen last year after he was ordered to sell his remaining shares in Roc-A-Fella last year to reportedly clear a $823,000 debut incurred by Webber's civil lawsuit, a move that Jigga and Biggs disapproved of.
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