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  • Man Down: Damon Dash is Broke, Facing Eviction

    Filed under: Hip-Hop News |

    What's Going On

    dash-broke

    Damon Dash was once consider a prototype for men who’ve made it big in hip-hop.  Now, he might be a cautionary tale about balling out of control and later on feeling the consequences.   Big money Dash says, in court documents revealed by the New York Post, that he is so broke that he’s about to be evicted from his mansion.

    “I am currently several months behind in paying my personal bills,” he wrote. “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.”

    Dash had two homes that he lost to foreclosure.  He once ran a media empire that he said was worth $50 million, now he says he’s hit the hard knock life.   One of the things cutting into his money are massive payments that he has to make his ex-wife, Rachel Roy.  He currently owes Roy $24,000 in alimony, since she apparently can’t make her own income.

    Much of Dash’s financial misery is also rooted in a series of lawsuits he’s lost since breaking up with Jay-Z back in 2004.  He also had his SUV seized in 2008 after missing payments.  To make matters worse, he may be criminally-prosecuted for not paying $2 million in taxes that he owes the states of New York and New Jersey.  That doesn’t even include money he owes the federal government.

    In addition to the $8,000 per month he pays his ex-wife for alimony, he also pays another $4341 per month in child support.

    “I’m an independent businessman and this is what comes from business,” Dash said in an email from his attorney, Gregg A. Pinto. “I have the guts to fight my battles on my own and it’s entertainment to everybody else because I’m so cool about it.”

     

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    89 Responses to Man Down: Damon Dash is Broke, Facing Eviction

    1. the difference between being rich and being wealthy. how come he payin’ rent in the first place? he come he don’t own the property he lives in, and where others owe him rent? smdh.

      thandisizwe chimurenga
      May 11, 2013 at 11:45 pm
      Reply

    2. 1. He married a gold digger, who is still digging.
      2. He spent his money like there was no tomorrow ( and now it’s the day after tomorrow).
      3. Did he pay it forward? The universe rehabilitates the selfish.

      John D
      July 28, 2013 at 10:15 am
      Reply

    3. Stupid to be worth 50m and have rent and payments on vehicles. Ever heard of paying cash for a crib and a car. Doesn’t make sense for Fast Money Makers to think they will be making Fast Money for 30 years to pay a mortgage off. U pay off when the cash is available and put up the tax money in a high interest account to cover that yearly: Example: if your taxes are 120k yearly u put up 1.5m and don’t touch and it will generate 120k yearly in interest. C how easy that is….

      Richard Copeland
      August 26, 2013 at 7:50 pm
      Reply

    4. ok first, if you WERE worth over $50 million why in the hell do you have mortgages and car notes? These things should have been paid in full, DUUUHHHH! i mean seriously? you think if I had $50 mill, I would owe anyone? HELL NO.All MY ASSETS WOULD BE PAID FOR IN FULL!!!! no bills but electricity and daily living expenses. You rappers, bball players,etc dont know how to manage your money and spend spend spend and have the nerve to look back one day and boo hoo about it. I WOULD GIVE ANYTHING TO HAVE a small piece of the wealth you have,i sure would not owe
      anyone anything.

      Daina
      September 7, 2013 at 10:14 pm
      Reply

    5. Jay had this cat black balled in the industry!! He couldn’t get a new deal, loan, front money to start a label, rap cats to sign with him or nothing!! It goes to show, you can crap on people, take all of the credit for your success and hope that people will support you when you are in need. He made the mistake of trusting Jay. It was just business homie. He’ll be on unsung or behind the music in 3,2,1….and go! LOL

      PDII
      October 28, 2013 at 11:03 am
      Reply

    6. God doesn’t like ugly. This man was so arrogant when he had money.
      I knew someone who worked for him & she said he was the worst. He
      treated women like s—. I love seeing him working on Jim Jones show
      as a lackey. He looks pathetic. Pay back will humble anyone.

      evelyn smith
      November 30, 2013 at 3:16 am
      Reply

    7. It’s sad to see someone in this position, but I agree with pretty much all the comments made here. Why are you paying rent and car notes when you can pay for it in full? That makes no sense. Remember when he would only wear a new pair of shoes and a new outfit ONE time and then give them away? That is how you lose money. I guess he thought (he stated this in several interviews) that Jay and Rocafella would always exist for him. Even if it did, you still have to be smart with your money, but it’s not surprising. It happens in music and the NFL, as well as other sports. I think Ebony magazine had a statistic that about 70% of football players are completely broke by 30-35 years old and most are black. Black people, please manage your money well! Damon Dash is a prime example of what happens when you don’t. He spent his 20’s and 30’s being rich and is now broke in his 40’s and beyond. Lord, help us. SMH…

      Lisa
      February 26, 2014 at 11:22 am
      Reply

    8. “Give me your tired, your poor, your huddled masses yearning to breathe free.” This quote comes from Emma Lazarus’ sonnet, New Colossus, which she wrote for a fundraiser auction to raise money for the pedestal upon which the Statue of Liberty now sits.

      Most commentators on the Damon Dash financial situation are the “… tired, … poor, huddled masses yearning to breathe free.” which Lazarus wrote of. Everyday, ordinary, regular working people who need to seriously study the implications of capitalistic global society which we live in. In the United States, we have the wealthiest poor in the world, in some foreign lands that I visited on Summer vacations with my family food stamps/EBT cards and subsidized housing for poor people DO NOT exist. In the U.S., there are public libraries in most communities, yet, how many of us have or are studying the dynamics of the U.S. military industrial complex or the basics of capitalism? Flash and bling-bling DO NOT mean a thing when you DO NOT understand the HOW and WHY of the system we live in.

      Robert T. Jenkins
      May 3, 2014 at 6:19 am
      Reply

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