September 6th 2025.
Damon Dash, one of the co-founders of Roc-A-Fella Records, recently made headlines after declaring bankruptcy. According to court documents, Dash has revealed that he has a meager $4,000 worth of assets, while being burdened with a staggering $25 million in debts. This comes almost a year after his ownership stake in Roc-A-Fella was auctioned off in New York in an effort to cover his mounting financial obligations.
The bankruptcy petition, filed on September 4th in Florida, has shed light on the dire financial situation of the influential label's co-founder. Dash, along with Jay-Z and Kareem "Biggs" Burke, launched Roc-A-Fella in 1994. However, the once successful record executive now only has $100 in cash and personal property totaling $4,250, including jewelry, a cellphone, clothing, and two firearms. On the other hand, his liabilities amount to a whopping $25.3 million, with the majority being unpaid taxes to the states of New York, New Jersey, and California.
Among the long list of debts, Dash also owes over $600,000 in child support to his ex-partners Rachel Roy and Cindy Morales. Additionally, he has a pending legal dispute with film producer Josh Webber, with whom he collaborated on the movie Dear Frank. In 2022, Webber was awarded an $823,000 judgment against Dash, followed by a $4 million defamation lawsuit resulting in a default judgment in March of this year.
Last summer, the state of New York acquired Dash's Roc-A-Fella shares for $1 million in an attempt to alleviate his financial burden. The label, which disbanded in 2013, continues to earn royalties from Jay-Z's debut album Reasonable Doubt. This revenue will flow into the company until 2031, when copyright termination rights will return full control to Jay-Z.
Dash's lawyer, Brian Zinn, has stated that the bankruptcy filing was a strategic decision. He explained, "Chapter 7 bankruptcy is a strategic decision that allows individuals to reorganize their finances and get a fresh start." Zinn also emphasized that bankruptcy is a legal tool used by many successful people to restructure their obligations.
Despite his current financial struggles, Dash is making efforts to fulfill his court-mandated orders. He expects to fully comply by August, according to sources. The former record executive's bankruptcy filing may be a difficult setback, but with the right approach and determination, he may be able to turn his financial situation around.
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