Damon Dash’s financial struggles have been well publicized over the past few years and the most recent news says that the Roc-A-Fella Records co-founder currently owes the IRS almost $3 million in taxes.
The Detroit News reports that according to a June 30th lien filed against Dash, the 40-year-old former music mogul is required to pay $2,984,364 to clear his debt. Back in 2008, the New York Post reported that Dash was facing foreclosure on his home, after being sued for mortgage payments he hadn’t made. At that point, it was reported that Dash already owed approximately $2 million to the IRS in back taxes.
Dash sold his share in Roc-A-Fella Records to Island Def Jam in 2004, since then he’s been creating music with a variety of artists in his New York City studio and art gallery DD172.
RELATED: Damon Dash Talks Jay-Z’s “Reasonable Doubt” On Its 15th Anniversary
damn, bankruptcy may be the only way out of this one,
maybe jigga man will help his former brother out?????
damn that sucks i never thought this would happen to dash. he always had the baddest hoes on his swimming pools. but hey u never no he probably pay that shit like nothin.
WHAT? You stupid
If dude is really in trouble then Jay should bail him out, afterall what is money compared to those who taught you and instilled certain lessons in you to become successful. Jay had the right people around him in the begining of his career which has allowed him to capitalise off it ever since.
Jigga doesn’t owe this man shit. They ate off the same plate- what did Dash do to fuck up his money???
Let’s do the math… nigga bought Pro Keds, which was an epic fail. Mismanaged the careers of Young Guns, Diplomats, and Beanie Siegel. Had that stupid ass fake “Apprentice” show on BET, which demonstrated time and time again his lack of business acumen.
Bottom line, Hov was the best thing to ever happen to this guy. Jay played his relationship with Dame like chess: he used Damon as his bad cop, while negotiating his way to a position of power within the matrix.
It’s grown man business out here. If Damon is $3 million upside down, he’s got to handle that.
Having said all that… A LOT of people lost money in this bullshit recession. Don’t be surprised to see a lot more “so-called” rich people crying broke here in the near future.
damn dame what happen
Dame dont have 3 million lol flashy nigga… shoulda been a silent partner buddy!
DAME bringin this dude to the table this year http://soundcloud.com/you/tracks
I aint gonna front he like the next Rakim
a sad story. an executive i alwayz respected.
Jay-Z should really help this nigga out…
?
thats like sayin don king shoulda helped mike tyson out when he spent all his money on dumb shit
man wasn’t dude on cribs talking about wearing t-shirts an socks only once damn
jay dont owe homie nothing
Why do people keeping asking if Jigga is gonna help Dash out? They ain’t cool like that anymore. Y’all negroes got jokes for days I see. LOL!
I need to write an article about why so many entertainers are always having IRS troubles.
much respect to Dash, this is indeed a sad story. hope he gets out of this mess.