Damon Dash files for bankruptcy, says he is $25 million in debt: ‘Let’s get to work’

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Entrepreneur and hip-hop legend Damon Dash, one of the founders of Roc-A-Fella Records along with Jay-Z and Kareem “Biggs” Burke, recently revealed severe financial difficulties when he submitted a Chapter 7 bankruptcy petition.

As a New Yorker turning 54, I’ve found myself in a challenging financial situation, with debts totaling approximately $25.3 million. Last Thursday, I submitted a petition in Florida, which The Times reviewed, detailing this predicament. At present, my income is non-existent, and my assets amount to just over $4,350. This includes $100 in cash, a cellphone valued at $500, and two guns worth around $750.

On Monday, a spokesperson from Dash didn’t promptly provide a comment when The Times asked for one.

California

The city is facing a significant financial predicament due to a budget crisis, and it has already disbursed over $229 million to resolve accusations of misconduct by a previous Santa Monica worker regarding abuses.

According to his petition, rapper Dash reportedly owes a substantial amount of money – approximately $25,303,049.47 – to up to 49 different creditors. A significant portion of this debt is towards the government, accounting for around $19.1 million in taxes and other liabilities. Additionally, Dash reportedly owes close to $648,000 in domestic support obligations to his ex-wife Rachel Roy and ex-girlfriend Cindy Morales. Dash and Roy were married from 2005 to 2009 and have two daughters together, while he also shares a son with Morales and has children from other relationships as well.

In August 2024, the petition verifies rumors that a third of Dash’s ownership in Roc-A-Fella Records was sold at auction to the New York Department of Taxation and Finance to settle his tax obligations. Dash additionally alleges that he is due an undetermined sum from Burke, as well as undisclosed amounts from potential lawsuits against Claudia Jordan, Josh Webber, and other parties with whom he has had legal disputes.

In my perspective as a supporter, I’d rephrase it like this:

“Hi there! I wanted to highlight that in 2019, filmmaker Webber from Muddy Water Pictures, who I’m backing, took legal action against music entrepreneur Dash for copyright infringement and defamation. This case was decided in favor of the filmmakers by a jury in the spring of 2022, with Dash being ordered to pay over $800,000 in damages. However, the aftermath of this decision has persisted into 2025. More recently, Webber has accused Dash and his girlfriend of concealing assets that could potentially help settle this substantial judgment, according to Complex’s report.

In April 2024, Webber filed a lawsuit against Dash, alleging libel and slander. Earlier this year, a court ruled that Dash must compensate the filmmaker with $4 million.

Upon news of his intent to declare bankruptcy, it appeared that Dash assumed responsibility for the financial disclosures. On Instagram, he reposted an article from WorldStar – a site focusing on hip-hop – regarding his legal issues onto his personal account.

“Now let’s get to work #staytuned,” Dash captioned his post.

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2025-09-09 04:01