Hip Hop moguel and Roc-A-Fella founder, Damon Dash, is in deep financial debt and is facing eviction.
Hip Hop mogul and Roc-A-Fella founder, Damon Dash, is broke. The man who once ruled Roc-A-Wear and Roc-A-Fella (est. 50 million dollar empire) is fighting to keep a roof over his head.
New York Daily News reports, Damon Dash is so deep in debt he claims in court documents that he is facing eviction from a rented mansion in Carmel, New York. Stating,
“I am currently several months behind in paying my personal bills,” he wrote Tuesday in the 5-page filing. “For instance, I am currently over $100,000 behind in rent for the only home in which I live and at risk of being evicted.”
Dame lost a pair of multi-million dollar homes to forclosure in 2010, with 7.3 million left to pay on the mortgages. After failed business deals, large tax debts, and continuous legal battles, Dame is almost left with nothing in his pockets. Court records show he lost a few lawsuits filed by landlords, a celebrity security firm, and fashion designer Charlotte Ronson. In addition to foreclosed homes, his leased 2008 SUV was seized after missing payments.
In a sworn statment asking a judge not to garnish his wages, Dash disclosed:
- He pays $24,000 every three months to his ex-wife, fashion designer Rachel Roy, for child support of their two kids, and to cover money owed on the lofts.
- New York state forces Dash to send another $4,341.10 per month for support of his son, Christian.
- He paid nearly $20,000 in garnished wages in late 2012 for other debts.
- And he faces a pending $40,000 tax payment for business earnings.
Dash says he's in this situation as a result of fighting legal battles that come from being an independent business man. While Dame won't talk about his finances, he supposedly owns a few art gallery's in Charlestown, S.C.