Here’s an overview of Damon Dash’s net worth and biography in 2024:
| Category | Details |
|---|---|
| Net Worth (2024) | $100,000 |
| Full Name | Damon Anthony Dash |
| Date of Birth | May 3, 1971 |
| Age | 53 years old |
| Place of Birth | New York, New York, USA |
| Profession | Entrepreneur, Record Executive, Film Producer, Director, Actor |
| Notable Achievements | Co-founder of Roc-A-Fella Records and Rocawear |
| Major Financial Issues | Child support, back taxes, lawsuits |
| Family | Engaged to Raquel Horn; has children with Rachel Roy and Linda Williams |
| Height | 178 cm |
| Weight | 78 kg |
| Tattoos | Yes, multiple tattoos on arms |
| Smoking | Yes, regularly |
What Is Damon Dash’s Net Worth in 2024?
Damon Dash is an American record producer, entrepreneur, and music executive with a net worth of approximately $100,000.
Unlike his former partner Jay-Z, who has achieved billionaire status, Damon has faced various financial challenges in recent years.
In late 2019, he informed a New York judge that he was struggling to pay child support, as much of his income was being taken by creditors. This article will explore his financial history and career highlights.
Damon Dash is best known for co-founding Roc-A-Fella Records alongside rapper Jay-Z. This label became a significant player in the music industry, helping to launch the careers of numerous artists.
In addition to his work in music, Damon also co-founded the clothing brand Rocawear with Jay-Z. Rocawear turned into a highly successful brand, eventually being sold for hundreds of millions of dollars.
When business was thriving, Damon leveraged his success to explore various industries, including film production, marketing, merchandise, and talent management.
His film company produced notable movies such as “The Woodsman,” featuring Kevin Bacon, and “Paid in Full,” starring Mekhi Phifer. These ventures showcased his versatility and ambition in the entertainment world.
Legal Battles and Financial Struggles
In 2014, Damon Dash was ordered to pay Linda Williams, the mother of his son Boogie, $50,000 after he was found to have caused her prosecution on harassment charges in 2009.
By August 2015, reports indicated that Damon owed a staggering $4.14 million in back taxes to the state of New York.
During his divorce from Rachel Roy, Damon disclosed to a judge that he had $2 million in back taxes and was facing foreclosure on two apartments in New York City.
Additionally, he was being sued by multiple law firms and other creditors due to unpaid debts. His Chevy Tahoe was repossessed because he couldn’t maintain the $700 monthly payments. Ultimately, Damon lost his $9 million Tribeca home, which was sold in foreclosure for $5.5 million.
In September 2019, Damon sought to terminate his child support payments to Rachel. Initially, he had agreed to pay $6,000 a month, a commitment that would continue even after their two daughters turned 18. In his court filing, he claimed he only earned $56,000 in 2018, while Rachel reportedly earned over $500,000.
In March 2019, he was ordered to pay Rachel $341,991 plus $25,000 for attorney fees. His financial troubles escalated in November 2019 when he was arrested for failing to pay $400,000 in child support.
He reportedly had to pay over $1 million for his release. Later that month, Damon filed documents stating he was broke again and could not afford a $2,400 personal debt.
He mentioned that his only income came from his business, which was currently making no profit. Although he received $2 million from producer Lee Daniels as part of a lawsuit settlement, that money was taken by creditors.
By January 2024, Damon found himself back in court again, asking for a reduction in his child support obligations. He claimed he had only made $5,140 in the past year and could only manage a monthly support payment of $430. This ongoing saga highlights the challenges he has faced in managing both his finances and personal life.
Controversial Auction, Roc-A-Fella Records
Throughout the years, despite various controversies, Damon Dash has held onto his 33.3% stake in Roc-A-Fella Records. However, in July 2024, it was announced that this stake would be auctioned off by the U.S. Marshal’s Service to satisfy an $800,000 civil judgment stemming from a copyright and defamation case won by a film director in 2022.
Roc-A-Fella Records continues to hold the rights to Jay-Z’s iconic album “Reasonable Doubt,” which is recognized as the label’s most significant asset. The auction documents indicate that the minimum bid for Dash’s 33.3% stake is set at $1.2 million, highlighting the potential value of this share despite his financial challenges. This auction represents a pivotal moment in Dash’s ongoing legal and financial battles while marking a significant chapter in the history of Roc-A-Fella Records.
Legal Challenges and Recent Settlements
In 2012, rapper Curren$y filed a lawsuit against Damon Dash for $1.5 million, claiming that Dash had released music without his consent. In response, Dash’s attorney asserted that the music was released legally and in accordance with the law.
Fast forward to June 2022, a significant lawsuit between former Roc-A-Fella Records co-owners Jay-Z and Damon Dash was settled. The dispute arose from Dash’s intentions to sell his ownership stake in the record label’s first album, “Reasonable Doubt,” as a non-fungible token (NFT). This move prompted Jay-Z to obtain a restraining order to halt Dash’s attempts to proceed with the sale.
In early 2023, Damon Dash faced a sexual assault allegation made by Monique Bunn, who had sued him in 2019. She claimed that he touched her inappropriately while she was asleep during a video shoot at his home. Although the lawsuit initially sought tens of millions of dollars, a federal jury ultimately awarded Bunn $30,000 in damages after not finding Dash liable for the allegations.
These events illustrate the ongoing legal hurdles faced by Dash, reflecting a tumultuous period in both his personal and professional life.
Early Life and Musical Beginnings
Damon Dash, born Damon Anthony Dash on May 3, 1971, in Harlem, New York, displayed a passion for music from a young age. He attended private schools in New York, where he began to nurture his artistic talents. As a teenager, Damon took on various jobs, sweeping floors at a local barbershop and selling newspapers, all to afford sneakers and T-shirts.
He often credits his mother as a significant influence in his life, teaching him the importance of hard work and perseverance. Tragically, she passed away from an asthma attack when he was just 15, a loss that profoundly impacted him. Despite this hardship, Damon’s early experiences shaped his entrepreneurial spirit and determination, setting the stage for his future success in the music industry.
Career Highlights
Damon Dash co-founded Roc-A-Fella Records with rapper Jay-Z, serving not only as a business partner but also as Jay-Z’s former manager. In 1999, Dash played a crucial role in organizing a tour for Jay-Z that generated an impressive $19 million. As Roc-A-Fella Records gained immense popularity, Damon’s net worth peaked at an estimated $50 million.
However, the success was not meant to last. In 2004, the relationship between Jay-Z and Damon began to deteriorate following the sale of Roc-A-Fella Records to Def Jam Recordings. Jay-Z took on the role of president at Def Jam, which shifted the dynamics of their partnership. By late 2005, Jay-Z bought Damon out of his stake in Rocawear, marking the end of their professional relationship.
These events signify a turning point for both men, highlighting the complexities of their once-thriving collaboration in the music industry.
Expanding Horizons Beyond Music
Damon Dash’s success as a record producer inspired him to explore other ventures, where he also found significant success. He co-founded two clothing lines, including Rocawear with Jay-Z, which became a highly profitable brand ultimately sold for hundreds of millions of dollars.
As business flourished, Damon leveraged his influence to branch out into various industries. He ventured into film production, marketing, merchandise, and talent management. His film company produced several notable movies, such as “The Woodsman” and “Paid in Full.” While primarily serving as a producer, Damon also made appearances in both films.
In addition to these endeavors, he established DD172, a media collective that encompasses a magazine called “American Nu,” a web design firm named VNGRD79, an art gallery, and a record label division known as BlueRoc Records. This diverse range of projects reflects Dash’s entrepreneurial spirit and commitment to creative expression across multiple platforms.
Relationships and Family Life
Damon Dash was in a relationship with R&B singer Aaliyah from 2000 until her tragic death in August 2001 due to a plane crash. While the couple was not formally engaged, Dash has mentioned in interviews that they had plans to marry.
From 2005 to 2009, Damon was married to Rachel Roy, whom he met while she was interning at Rocawear. Together, they have two daughters: Ava Dash, born in 1999, and Tallulah Dash, born in 2008. Their divorce in 2009 sparked a contentious custody battle, with Roy accusing Dash of domestic abuse. As a result, she was awarded sole custody, a three-year restraining order, and significant financial support.
In addition to his daughters, Dash has a son, Dame “Boogie” Dash, born in 1991, with his former girlfriend, Linda Williams. Boogie is known for starring in the reality show “Growing Up Hip Hop” on WE tv.
Currently, Damon is engaged to film producer Raquel Horn, and the couple welcomed a son, Dusko Dash, on November 14, 2020. Dash’s family life reflects both his personal challenges and his commitment to fatherhood.
Major Source: Wikipedia, Celebrity Net Worth
