Dame Dash has hit out at JAY-Z after the auction of his shares in Roc-A-Fella failed to generate the sum he was hoping for.
Speaking on his America Nu Network, a dejected Dash shared his thoughts after his one-third ownership in the company was bought by New York State for just $1 million.
Using the somewhat underwhelming outcome of the much-publicized auction to downplay the popularity of his former business partner, the mogul said: “What this really taught me was that, in the world, homie isn’t as big as he portrays.”
He added: “I thought more people would be interested in buying it […] I thought people would at least show up. No one even showed up! […] Jay didn’t even make a bid. He didn’t think it was worth $3 million. A billionaire, supposedly.”
Dash also claimed that Drake was at one point interested in purchasing his shares and made a sizeable offer, but backed out without an explanation.
“Drake did put a bid in for $6 million, but then he disappeared. I don’t know what happened,” he said. “But other than that, no one was serious. No one wanted that shit, period.”
The public auction was to settle Dame Dash’s extensive debts that total almost $10 million.
The Roc-A-Fella co-founder allegedly owes $8.7 million to the State of New York in back taxes, as well as $145,000 to New York City’s Department of Social Services in unpaid child support.
Dash additionally owes $823,000 to filmmaker Josh Webber, who successfully sued him for copyright infringement and defamation over the 2019 movie Dear Frank.
His Roc-A-Fella shares were bought by an anonymous state government employee, with plans to sell it on for a higher sum and put the proceeds towards Dash’s debts.
The deal centers on Dash’s stake in Roc-A-Fella Inc., whose sole asset is JAY-Z’s seminal debut album Reasonable Doubt — not Roc-A-Fella LLC, which houses the rest of the label’s catalog.
Dame previously accused Hov of trying to “poison” the auction by claiming that the rights to Reasonable Doubt revert back to him in the year 2031 due to copyright law’s termination right, which applies to pieces of work over 35 years old.
Lawyers for New York State, however, argued that the copyrights will continue to be held by Roc-A-Fella Inc. until 2098 while also accusing the label of not providing proof of royalties that the album generates.
A judge refused to settle the matter prior to the auction, saying he had no legal power to rule on disputes over copyright law.
Dude needs to accept that he’s a talentless failure…
Prove it
He’s upset that Jay Z didn’t show up to the auction, not to mention he’s practically begging him for money. He’s also lost a lawsuit to a film maker, Curren$Y also sued him, he owes back taxes and child support. Would you like more?
Owing money has to do with talent? I’d say he has an eye for talent don’t you? Jay was passed over by plenty investors before Dame Dash believed in him. Ye too. State Property. Paid In Full, State Prop movies. Kevin Hart’s first star picture. Roc A Wear had a moment in time too. Would you like more?
That would have been dumb to pay 3 million for 1/3 shit was never worth that muxh
It’s really quite sad. Big Pimping to millions of debt. I think i know why jay z didn’t put a bid in for this. He has been wanting to won his masters for RD for a very long time. Perhaps he knows one day he will acquire this and he just didn’t want any of the money spent to go to Dame? I think Jay knows what he is doing. Dame is out of cash, millions in debt, no other option here, UPS is hiring.
Why would Jay show up to spend millions on something that he’ll own anyways in 6 years? Why would anyone show up to spend millions for something they won’t own in 6 years?
It seem like you can’t read. The state attorney said that’s a lie and it will go back in the year 2098. Reading is fundamental
I hate to see people enjoying sooo much to kick a man while he/or she is down. Dame is one of the culture’s icons, period! His business woes in no way reflect upon or can diminish his legacy. There is no Jay-Z, no Ye, no Beans, absolutely no Roc-a-Fella without this man. STOP HATIN’ always pointing oyr the worst in individuals instead of showing empathy and respect for their accomplishment! You coach potato so ial media slime junkies need to look inward where there is sure to be plenty of material to hate on.