Hip Hop mogul Dame Dash claims director Lee Daniels is refusing to pay back the $2 million he borrowed from him.
In an Instagram post shared on Tuesday (June 26), the Roc-A-Fella founder posted a clip that shows the two arguing during a Diana Ross show at the Hollywood Bowl last week.
According to the subtitles, Dame says, “As a black man, I gave you money that you needed, so how you not gonna give me my money?” Daniels replies repeatedly, “I will call you.”
Dame claims he gave Daniels a $2 million line of credit to build his career as a film director, with an agreement to receive executive producer credits and dividends of Daniels’ work. Daniels went on to successfully direct films such as Precious and is currently working on the FOX shows Star and Empire.
“I straight up loaned this dude Lee Daniels @theoriginalbigdaddy 2 million to pay for his dream of being a director,” he wrote in the caption. “it was the money I was using to fund my movies and stay Indy…he promised I get my money back in months.
“then he makes precious and goes missing so he doesn’t have to pay me…then then Butler…empire…same shit Why does this dude feel like he doesn’t have to pay me?…why do I have to look crazy to get my money back…or go to court.”
Dame alleges he hasn’t seen any of his money or executive producer credits.
Dame previously sued Daniels for $25 million in 2014 over ownership rights to Daniels’ work on Precious, The Butler and Empire. They settled in 2015.
According to TMZ, he’s now suing Daniels for $5 million. [apple_news_ad type=”any”]
Money that’s given to Indy films become a tax write-off like a donation at least where I’m from. Very rarely do these types of films make any profit. If this is the case for dash, you can’t try and get that money back after the fact. If he really that hard up for money, he should’ve gone straight to court. If he doesn’t have it in writing that it was a loan, he won’t get it back, simple.
Sorry but i work in the industry and that line of thinking is just plain false. Indy films are made for cheap and then released. They make a very small profit or break even or lose money. But never does a studio release a film knowing it will lose money. That just doesnt happen. Every film released a studio hopes it makes money so when this guy asked for a loan it was just that. A LOAN! He has to pay it back. Did you see the video? Lee knows he was wrong. Classic example of someone making it big and not looking back at the people that helped him get to where he is today.
I work in the industry and that is true I do believe Lee knows he should pay it back. BUT! Dame still needs to prove it in writing that is was an actual loan. Investors in films usually get paid like any other biz before the directors and such start cutting checks, so that is why I think this wasn’t written in a contract. Do you think all those thousands of people of kickstarter and indiegogo come back looking for their $50 back if a film is successful? No. And Indie is not studio, directors that need a few million, which is still pennies in film, do not have a major studio backing.
it’s a big difference between people donating money and a person loaning you money and you promise to pay it back.
All this is a distraction from the fact that the Eagles beat the Patriots in the Super Bowl
I work in the industry too. And I think Russell should have gave Lynch the ball on the one yard line.
Dame still hasn’t learned that all black people are not for the community.
FACTS! I learned that the hardway
He admitted he owes the money and said he’s going to pay. It’s on video, so he definitely has to pay it now.
Dames definitely the OG…. He checking the shit out of dude about his money!!!!
Dame has done more for the culture and put so many people on than most of these so called hip hop moguls out today…….He may not be the most polite and professional CEO in the game but he was always trying to help his people win and be prosperous. GET YOUR MONEY DAME! Dame and Monique were right about that snake Lee Daniels.
The title should read, “Dame Dash Demands repayment of 2 million dollars that he loaned Lee Daniels”. This was once a solid hip hop website, now it’s more of an online gossip column that uses false and out of context titles and headlines for clicks.