All Articles Tagged "damon dash"
You’d think with million dollar contracts and endorsement deals, foreclosures would be the last thing singers, athletes, and every other celebrity under the sun would have to worry about. But as we’ve seen all too often, money management skills are not prominent on the Hollywood scene. Check out the latest celebs who may soon find themselves homeless.
Lauryn Hill made Grammy history by becoming the first woman to be nominated in ten categories in a single year and the first woman to win five times in one night. Her album, “The Miseducation of Lauryn Hill,” went on to sell more than 19 million records worldwide but succumbing to the pressures that followed, the New Jersey native took a break from the industry. Hill has since resurfaced but with some money problems. In April of this year, her landlord hit the “Ex-Factor” singer with an eviction notice. A settlement was reached in court a few days ago and Hill has agreed to pay $7,000 in rent and vacate the property. Earlier this year, Hill pled guilty to tax evasion and was sentenced to 3 months behind bars.
If this is true, Dame Dash is drowning in debt right now.
In a report by The New York Daily News, Dash filed papers on Tuesday saying is so deep in debt that he cannot pay his personal bills, which includes his rent in a Carmel, NY mansion where he is currently behind in rent by $100,000.
Over the past few years, Dash has lost two New York City lofts to foreclosure, his vehicle has been seized, he owes $2 million dollars in New York State taxes, an undisclosed amount in federal taxes and he says he’s facing criminal charges for non-payment of New Jersey state taxes.
On Thursday, Dame went to court to ask the judge not to garnish his wages (whatever they are). He says that at this time, his money goes to the following (your mouth will drop):
- 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 in paying for all that, he is barely keeping his business afloat let alone able to pay his personal bills.
Well, we can see how that could be the case.
Dame sent a message through his attorney saying:
“I’m an independent businessman and this is what comes from business. 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.”
How “cool” can you really be when you’re obviously still spending beyond your means and barely have a place to lay your head?
It sounds like someone needs to put their pride to the side and get himself together.
It’s been almost 12 years since the music world suffered the tragic loss of talented R&B songstress Aaliyah Haughton, who passed away in a plane crash August of 2001. Although the singer has been gone for quite some time now, her memory is kept alive by adoring fans and those who knew her best. During a recent interview on The Combat Jack Show, Roc-A-Fella Records founder and former boyfriend of the late singer opened about losing her and the good times that brought them together.
He expressed that he isn’t exactly sure how he became romantically involved with Aaliyah, they just sort of understood one another.
“I don’t know [how we got involved], just spending time, you know, we just saw things the same and it was new, you know what I mean? Meeting someone that is trying to do the same thing you are doing in the urban market, in the same urban market place but not really being so urban. It was just; her mind was where my mind was. She understood me and she got my jokes. She thought my jokes were funny.”
Dame went on to reveal that next to losing his mother at 15 years old, Aaliyah’s death hurt him more than anything.
“So I felt my worst pain I thought I could feel [after losing my mom], except until Aaliyah died, you know what I’m saying,” said Dash.
Speaking of loss, Dame also discussed his former business partner Jay-Z’s departure from Roc-A-Fella Records. He said that he feels Jay betrayed the company, but added that he doesn’t feel personally betrayed.
“I mean I thought the way Jay carried things was a betrayal to the company, you know what I’m saying? But other then that, nah, not really. I didn’t think the business way things played out, like I was more into the friendship then the business because that’s really what it was for, for me at that point, know what I’m saying? I felt like, you know Roc-A-Fella over all, we had built a brand for ten years. I knew I would be all right, I was trying to get away from it any way but I was afraid for everybody else, which ultimately was the case. I just felt like Roc-A-Fella should still exist. Like Cash Money still exists, like Bad Boy still exist, like every other label still exist.”
Listen to Dame’s full interview below.
Oh how the tables have turned. When the woman is the one with the spotlight and the power as a Hollywood starlet, it can be hard to find real love. Ask the famous women who dated these 10 fellas. I’m sure they thought they had found true love, but unfortunately, what they found was a hot a** mess that looked pretty good in a suit from time to time. So where are these men at now that these ladies have moved on? Let’s find out!
Before Eric Benet, and the slew of other gorgeous men that Halle Berry has dated and split from, there was David Justice. Justice is a former baseball star who was an outfielder for the Yankees, the Braves, the Indians and the Oakland Athletics. And while he was winning on the field, he was also winning off the field because he managed to scoop up-and-coming actress, Halle Berry. While things seemed to be peachy keen on the outside, the two had major issues, and wound up separating in 1996, with a divorce following in ’97. When it was all said and done, things ended very messy, with Berry needing to file a restraining order against Justice during their divorce proceedings. After the fact, Berry became very depressed and even entertained the thought of suicide before the thought of her mother got her back on track. We know what Halle’s on these days, but as for Justice, he’s married again to a woman named Rebecca Villalobos. Of course, he is retired, and for a few years there, was a game and studio analyst. Nice to see that both have moved on and are happy campers again.
If you were craving for some adorable-ness on this day, we’ve got you covered! Last week, while Sandra was picking up her little man Louis from school, she had a chance to meet up with one of the tot’s friends. While conversing (or something like that) with his buddy ‘ol pal, Louis was all smiles in his “When I Grow Up, I Want to Be ME” shirt and Adidas sneakers. It’s always nice to see little Louis smile since he does a lot of frowning (in a cute way though). But if paparazzi were always in your face, you might feel the need to frown too! Check out more of the cute exchange between the toddlers below.
And speaking of cute kids, Damon Dash and designer Rachel Roy’s daughter, Tallulah, was also all smiles (and various other silly facial expressions) when playing with the photo app, PopBooth. She should be four this May (the photo above is from when she was a 2-year-old), and the kid is adorable! Check out her silly photo strip below:
What do you think of the cutie pies?
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Damon Dash can’t seem to beat the IRS. Maybe he should take a lesson from fellow industry-mate turned prisoner, Ja Rule, and strive to settle his debts before he ends up in jail.
According to Detroit News, Dash, who has been in trouble with the IRS since at least 2008 , has skipped out on another tax bill and the IRS has now filed a $2,984,364 lien against him on June 30 with the New York City Register’s Office.
Dash’s problems became public in 2008 when he faced foreclosure on two downtown condos in New York and had his luxury SUV repossessed due to unpaid legal fees. He couldn’t keep up with his $78,500 monthly mortgage payment on his two residences that he bought for $7.3 million according to Forbes and by 2010, one of his Tribeca condos was sold in a foreclosure sale for $5.5 million.
The 40-year-old former Roc-a-Fella manager is going it alone, as Rachel Roy filed for divorce from Dash in 2009. She seems to be doing well for herself with her Rachel Roy fashion line. Maybe she can spare some cash to her former flame and settle his debts once and for all.
(Gawker) — Former hip hop mogul Damon Dash ran into some money trouble a few years back (we can think of a few reasons why) and reportedly stopped paying a $78,504.20-per-month mortgage. Now comes the foreclosure auction. Dash’s $7.3 million loan was for a pair of Tribeca lofts, one at 72 Laight Street, and the other a 5,200-square-foot duplex in The Atalanta at 25 N. Moore Street, one of the neighborhood’s power buildings. Jay-Z’s ex-bestie tried to sell that Atalanta stunner for $7.9 million (he bought it for $3.875 million back in 2004) to pay off his debts, but the guy’s got 99 problems and this condo stayed one-until 1 p.m. tomorrow at the New York County Courthouse, when a new owner could emerge.
(TheGrio.com) — Hip hop fans may be able to throw their Roc-A-Fella diamonds in the sky again real soon. Former Roc-A-Fella Records executive, Damon Dash, was granted the licensing rights use the label’s name on Monday and plans to revamp the label that was once a force in music and hip-hop culture. Dash, who founded Roc-A-Fella Records in 1996 along with Jay-Z and Kareem “Biggs” Burke, has said that the decision really came down to the opportunity being there and a “why not?” attitude. The meteoric rise of the label was built off the strength of Jay-Z’s debut album, Reasonable Doubt, and at their height the Roc-A-Fella brand featured an unparalleled stable of artists including Kanye West, Cam’ron and Beanie Sigel. A highly successful fashion line in Rocawear, a movie division, Roc Films, that put out State Property and Paid in Full, and even dabbled in the alcoholic beverage industry, taking over U.S. distribution of Armadale vodka. The decline of the label was ugly and, to some, calculated.
by Steven Barboza
The question on the minds of hip hop cognoscenti, the glitterati and reporters alike is whether Dash, who co-founded the twin cash cows of rap music and fashion, Roc-A-Fella Records and Rocawear, will earn the dubious distinction of actually living a “hard knock life” after having earned a fortune for producing a smash record of the same name.
The mogul, once one of the ten richest and most powerful men in hip-hop, is now reportedly broke. He lost his home, and a Manhattan judge even ordered the city to seize his SUV because he couldn’t afford his monthly car note.
However, some observers vouch for his ability to stage a comeback. “At the end of the day, he’s an entrepreneur,” says Lola Ogunnaike, a journalist who wrote for Vibe and Rolling Stone magazines and who was the top culture reporter for The New York Times. “He’s not necessarily a music man; he’s a businessman, and wherever there’s a check to be made, he’s going to look into it.”
The high point of his success is traced to 1994, when he met Shawn Carter, a former drug dealer from Brooklyn who wanted to become a rapper. Dash put up his own money for Carter’s first recordings, pressed discs himself and sold them out of his car, launching Roc-A-Fella and the career of the future rap star who would come to be known as Jay-Z.
Two years later, Dash produced the artist’s debut album, “Reasonable Doubt,” and was credited with putting the upscale “varnish” on Jay-Z’s appeal. Under Dash’s managerial skill, Jay-Z recorded nine No. 1 albums and won four Grammys.
“In the music industry, you’re really only one hit, one act away from a comeback. So anything is possible,” says Ogunnaike, a former entertainment correspondent for CNN’s flagship morning news program, American Morning. “The Jay-Zs of the world only come around every so often, but if he were to discover the next Jay-Z, I think Damon Dash would be at the top of everyone’s invite list. The name Damon Dash would be on the tip of everyone’s tongue again.”
Many hip-hop observers credit Dash for pioneering the financial deals upon which rap music thrives. And his current deals could earn him millions more, not just in music, but in communications and even the auto industry.
Dash, 38, has a history of overcoming great adversity. He grew up in a rough Harlem neighborhood. His mother died of an asthma attack when he was 15, and he proved resourceful enough to put himself through a series of boarding schools. He then built a business out of throwing parties at Harlem’s Cotton Club, which he rented out.
He went on to become a major architect of the current music scene, reaping millions of dollars for grooming and launching artists who would become rap royalty, including of course, the genre’s reigning superstar, Jay-Z, who counts President Barack Obama as a fan.
He brought vision to the music business. Some even say Jay-Z’s suave public persona was molded in Dash’s imagination.
“I think it’s important to keep in mind that Damon Dash went to private schools,” Ogunnaike explains. “So he has been used to rubbing shoulders with the elite for a long time. So I think he just had a more sophisticated world view, and his world just wasn’t as narrow as somebody like Jay-Z, who grew up in the Marcy Projects. So I do think he introduced Jay-Z to a certain level of sophistication, made him a little more worldly, a little more cultured. But anyone who knows Jay-Z knows that he is a quick study. And soon enough the student was right up there with sensei.”
Dash, who also launched the careers of Kanye West, Beanie Sigel, Cam’ron and other stars, brought ruthless negotiating skills to the deal-making table. Offered lucrative contracts with major record companies, he held out for even bigger paydays. In the end, he revolutionized the business of rap by insisting his artists receive equity for their labors, rather than settling for the work-for-hire arrangements traditionally offered to black recording artists.
Dash profited handsomely, using his earnings to branch out with spin-off ventures. By age 35, he owned a record label, five clothing and shoe companies, a Swiss watch company, a top-shelf vodka company, a television production house, and a movie production company. He estimated his worth at $50 million.
His business deals and lifestyle of conspicuous consumption were detailed in a 2006 profile in New York magazine. He wore a four-carat yellow-lemon diamond on his earlobe. He was driven around town in a $400,000 Maybach, employed a corps of butlers, cooks, photographers and personal assistants, owned 1,300 pairs of sneakers, and devoted the top floor of one of his homes to his clothes. The dressing room and the sneaker room each had their own bathroom.
“Dash had a reputation for being an aggressive negotiator, and also for being a bit of a hothead,” Ogunnaike says. “Now that worked to Jay-Z’s benefit because Damon Dash essentially played bad cop and Jay-Z was allowed to play good cop, and that worked when they were on the same team. But eventually it started affecting business, because some people found Damon Dash impossible to work with, and some found his temper to be over the top and his behavior to be unprofessional.”
Dash’s fall has been spectacular – and public. A decade after the two had met, Jay-Z broke his business ties to Dash. In 2004, when Def Jam, which owned a 50% stake in Roc-A-Fella, purchased the remaining stake, Jay-Z was named president, a job some think should have gone to Dash. The following year, Jay-Z purchased Dash’s stake in Rocawear for $20 million.
Since then, Jay-Z has parlayed his fortune into the hundreds of millions of dollars, while Dash is reportedly broke. Earlier this year, he owed $2 million in state taxes. Eastern Savings Bank started foreclosure proceedings on his two New York condominiums. He was sued by law firms and landlords for unpaid bills, and in 2008, a Manhattan judge ordered the city to seize his Chevrolet Tahoe SUV when he couldn’t come up with the $714.99 monthly payment.
A year ago, his wife, fashion designer Rachel Roy, the glamorous Indian-Dutch mother of two of his children, filed for divorce, seeking “non-monetary relief.” The move came within a year after Roy and Dash signed a joint venture deal with Jones Apparel Group to develop, market and license the New York-based brand.
Some believe only Dash can blaze a new trail in music, because the current crop of recording executives lack his vision and hunger for a path-breaking deal. “I like to be the brokest guy in the room. That inspires me,” he reportedly told New York magazine. “I rubbed two sticks together and made money.”
He has a history of surprisingly bold moves; some might say too bold. Earlier in the decade, after he bought the sneaker company Pro-Keds and repositioned it as a hip-hop brand, he introduced a line of sneakers with lemon- and watermelon-scented soles. The line proved to be a hip hop flop.
His newest deals, however, are mainstream and may be innovative enough to earn him piles of money. In September he announced plans to launch a radio station called Magnet Radio. It will feature less advertising than is customary on radio, creating a new business model, he said.
He also moved into the car business with the Tiret Sport Coupe. Said to be based on the Range Rover Sport, the luxury two-door SUV was unveiled in September in Switzerland alongside Tiret’s opulent bejeweled timepieces.
Dash says he learned to hustle from his mother, a secretary who sold clothes on the side out of their apartment and who sometimes offered fashions not yet available in stores. Success in his latest business ventures will go a long way toward proving how well he learned the basics of hustling – and whether he will break new ground as hip hop’s first turnaround wizard.