Damon Dash has hit rock bottom. The rap mogul, who once identified his net worth as “roughly $50 million,” has exploded beyond that, as evidenced by multiple lawsuits and failed businesses that have been exposed to the public eye. The recent scandalous developments on April 1, 2009 highlighted the filing of a divorce dominated by estranged wife Rachel Roy. The rapid fall of “Big Pimpin” was precipitated by Dame’s massive breakup with rap mogul Shawn “Jay-Z” Carter.
Damon Dash is Broken
In fact, Damon Dash, 37, is far from the bottles of Cristal poppin in the Roc-A-Fella music video, adulterating his Rocawear clothes, moving ProKeds shoes, Crates Armadale vodka in Manhattan, filing for bankruptcy proceedings.
Mrs. Dash owes $2 million in back state taxes to New York, foreclosure on two New York condominiums. carrying a monthly mortgage of $80,000, multiple law firms and landlords are being treated as foreclosures, and having to deal with the confusion of repossession of their Chevrolet Tahoe for failure to repay the monthly $714.99.
The former mogul broke flat – 2 short years after the big 2006 New York Magazine piece explaining the lustful lifestyle of 1,300 different pairs of shoes, a $400,000 Maybach, waiters, cooks, many personal assistants, and once-finished items of clothing that were boxed up for donation. Dash scoured her entire house for said wardrobe – not even using her socks twice before distributing the piles of clothes to the less fortunate. Dash says:
“So someone basically gets to have new luggage and I want it to be flown.”
The Damon Dash saga has been plagued by an ill-timed attempt at hip line clothing as the state of prison clothing, kids gym shoes featuring a fruity plant-themed scent, and a stable of rappers including Kanye West, Memphis Bleek, and Young Gunz who sent a ship – pledged to Jay after the Damon Dash / Shawn Carter partnership broke up.
Of course, fashionista Rachel Roy has come forward to serve Dash with divorce papers after she helped the former mogul launch her eponymous collection womens clothing /a>.
Rachel Roy Files for Divorce vs. Damon Dash
Roy’s divorce suit, filed in March 2009, seeks “no financial support” from Dash.
He married couples in Mexico in 2005 after having a fake relationship with Rachel Roy while working as a stylist at Rocawear. Roy, of Indian and Dutch descent, two Dash fathered four children from his mother. The beautiful woman is equally notable for her charming face, style and designer title that she is recognized as “Damon Dash’s wife”.
Rachel Roy’s filing marks the third well-publicized breakup of this tragic hero. The other two are the untimely and unfortunate demise of Aaliyah’s love interest and the fierce rivalry with Damon Dash against Jay-Z, which turned these two long-time confidants into adversaries.
Is Jay-Z blaming Damon Dash?
Nor
Def Jam bought a 50% interest in Roc-A-Fella from Shawn “Jay-Z” Carter, Damon Dash, and silent partner Kareem “Biggs” Burg for $10 million in 2004. Attempts were made shortly before when Jigga purchased Dash’s Roc-A – Wear clothing for $20 million in 2005. The couple with silent partner Kareem Burgo had built the Roc-A-Fella Records label since 1996 selling compact discs from car trunks to the predatory empire that was to dominate the new millennium. Damon Dash was now looking outside.
Meanwhile, Jay-Z has offered to release his entire caboodle of classical rights to reasonable to release sole owners. However, Damon Dash stubbornly refused the deal and Mr. Carter was later named President and CEO of the Def Jam rap monopoly, which now completely owned Roc-A-Fella and Dash and Biggs.
The quick moves were precipitated by years of fighting behind the scenes dealing with the marketing strategies and promotion of various Roc-A-Fella artists who are fierce enemies. Jay-Z especially Cameron “Camron” Aegidi and his Diplomat clique.
The rapid dissolution of Roc-A-Fella’s records was exacerbated by Beanie Sigel’s time in prison to serve his sentence on attempted murder charges, which Republic of Philadelphia Capabilities Beans, Freeway, and Young Gunz; Camron blaring hate towards Jay-Z for breaking up the Diplomats group; and producer Kanye West’s ranks from Dash to Fraction remain largely in the fold with Shawn Carter.
Jay-Z retired from rap, left his Def Jam presidency in 2007, and re-emerged with his American Gangster LP to announce both a leadership void and further confusion. Still, Shawn Carter is a Forbes-listed nine-figure entertainment mogul, while Damon Dash is now breaking even.
Of course, developments were certainly foreshadowed by the release of Damon Dash’s own 2003 Death of a Dynasty film. Business is indeed business as Jay-Z emphatically proclaimed on wax by Kanye West Diamonds are eternal tracks;
“I’m not a businessman. I’m a business, man.”
Damon Dash is broken, Sources:
Eric Konigsberg, Why Damon Dash Hates Fridays, http://nymag.com/news/profiles/17268/
Jose Martinez, Damon Dash’s wife Rachel Roy files for divorce, http://www.nydailynews.com/gossip/2009/03/24/2009-03-24_hiphop_flop_damon_dashs_wife_rachel_roy.html
Wikipedia, Damon Dash, http://en.wikipedia.org/wiki/Damon_Dash
Report:
- nymag.com/news/profiles/17268/
- www.nydailynews.com/gossip/2009/ 03/24/2009-03-24_hiphop_flop_damon_dashs_wife_rachel_
- en.wikipedia.org/wiki/Damon_Dash
