Damon Dash Net Worth (Money & Salary)

Damon Dash’s Net Worth: What Is It?

As an American record producer, entrepreneur, and music executive, Damon Dash’s net worth stands at $100 thousand. In contrast to his former partner Jay-Z, who is currently a billionaire, Dash has faced various financial challenges in recent years. In late 2019, he informed a New York judge that he was financially incapable of paying child support, with his income largely garnished by multiple creditors. In September 2024, he alleged that Jay-Z was obstructing an auction for Dash’s share of the album “Reasonable Doubt,” making it unlikely for him to pay around $130,000 in child support and millions owed in back taxes to New York state and the IRS. This article will explore his financial history.

Dash is likely best known for co-founding the music label Roc-A-Fella Records alongside rapper Jay-Z. Additionally, he co-established two clothing lines including Rocawear, which became a lucrative brand ultimately sold for hundreds of millions of dollars. During his peak business years, Damon leveraged his influence to enter various other industries and ventures, including film production, marketing, merchandise, and talent management. His film production company brought forth several notable movies, such as “The Woodsman,” featuring Kevin Bacon, and “Paid in Full,” showcasing Mekhi Phifer.

Challenges with Finances

Dash was mandated in 2014 to pay Linda Williams, mother of his son Boogie, $50,000 for her wrongful prosecution on harassment charges in 2009. Reports in August 2015 indicated that he owed $4.14 million in back taxes to New York state.

During his divorce from Rachel Roy, Damon disclosed to the court that he had $2 million in back taxes and was facing foreclosure on two apartments in New York City. He was simultaneously being sued by multiple law firms in NYC and other creditors for unpaid debts. His Chevy Tahoe was repossessed due to his inability to maintain the $700 monthly payment. Dash had to leave his $9 million home in Tribeca, New York, which was later sold in foreclosure for $5.5 million.

In September 2019, Dash filed a petition to halt his child support payments to Roy. Initially, during their divorce negotiations, he had consented to pay $6,000 monthly in child support, continuing even after their daughters turned 18. In his petition, Damon stated he earned only $56,000 in 2018, while Rachel reportedly made over $500,000.

In March 2019, the court mandated Dash to pay Rachel Roy a total of $341,991 along with $25,000 for attorney fees.

In November 2019, he was arrested for failing to pay $400,000 in child support and allegedly paid over $1 million for his release. Later that month, Damon filed legal documents asserting he was again broke and unable to settle a $2,400 personal debt. He at that time claimed his sole income came from his business, which was yielding no profit. He also disclosed that he received a $2 million settlement from producer Lee Daniels, but the sum was garnished by creditors.

In January 2024, he returned to court seeking a reduction in his child support requirements. According to his filing, he had only earned $5,140 in the preceding year and could manage a maximum monthly payment of $430.

Auction of Roc-A-Fella Share

Despite various controversies over the years, Damon never liquidated his 33.3% ownership stake in Roc-A-Fella Records. In July 2024, it was announced that his share would be auctioned by the U.S. Marshall’s service.

to fulfill an $800,000 civil judgment stemming from a copyright and defamation lawsuit that a film director won in 2022. Jay-Z’s “Reasonable Doubt” album remains under the ownership of Roc-A-Fella Records, which lists it as its most significant asset in the auction documents. The bidding starts at $1.2 million for Dash’s 33.3% stake.

In September 2024, Damon expressed his grievances on social media, claiming that Jay had undermined the auction process, leading to a decrease in the value of his 33.3% stake. Consequently, this would make it more difficult for him to cover approximately $130,000 owed in child support and the millions he must pay in back taxes. The New York City Department of Social Services even intervened to address complaints against Jay, emphasizing that the rights acquired in the auction would extend to 2098, contradicting claims made online that suggested they would only last until 2031.

Legal Issues

In a lawsuit filed in 2012, rapper Curren$y demanded $1.5 million from Dash, alleging that he had released music without authorization. According to Dash’s attorney, the music was released in accordance with legal guidelines.

During June 2022, a resolution was reached in a lawsuit involving former Roc-A-Fella Records co-owners Jay-Z and Damon Dash, which centered around Dash’s intentions to sell his share of the record label’s initial album, “Reasonable Doubt,” as an NFT. A year earlier, Jay-Z had sought a restraining order to stop Damon’s attempts at this sale.

By early 2023, a federal jury largely exonerated Dash from a sexual assault charge. Monique Bunn had initiated a lawsuit against him in 2019, claiming inappropriate contact during a video shoot at his residence. While the lawsuit initially pursued tens of millions of dollars in damages, the jury ultimately awarded Bunn $30,000, finding Dash not liable.

Early Life

Damon Dash, born Damon Anthony Dash on May 3, 1971, grew up in Harlem, New York. He attended private educational institutions in New York and discovered his passion for music at a young age. As a teenager, he took on jobs such as sweeping floors in a local barbershop and selling newspapers to buy sneakers and t-shirts. In his own terms, Damon “learned to hustle” from his mother, who sadly passed away from an asthma attack when he was just 15 years old.

Career

Alongside rapper Jay-Z, Dash co-founded Roc-A-Fella Records. He not only served as Jay-Z’s business partner but was also his former manager. In 1999, Dash played a key role in organizing a tour for Jay-Z that generated $19 million. As Roc-A-Fella Records gained immense popularity, Damon witnessed a significant increase in his net worth.to a historic high of $50 million. However, the prosperous times didn’t endure indefinitely. After Roc-A-Fella Records was acquired by Def Jam Recordings in 2004, the relationship between Jay-Z and Damon began to deteriorate. Following this acquisition, Jay-Z accepted the position of president at Def Jam. By late 2005, Jay-Z had purchased Dash’s share in Rocawear, leading to the official end of their partnership.

Other Ventures

His accomplishments as a record producer encouraged him to explore various other sectors, where he similarly found great success. Co-founding two clothing lines, including Rocawear with Jay-Z, he developed a highly profitable brand that was ultimately sold for hundreds of millions. During the height of his business success, Damon leveraged his influence to enter multiple industries. He made strides in film production, marketing, merchandise, and talent management. His film production company was responsible for several notable films, such as “The Woodsman” and “Paid in Full,” where Dash appeared primarily as a producer. Additionally, he established DD172, a media collective comprising a magazine titled “American Nu,” a web design agency known as VNGRD79, an art gallery, and a music label segment, BlueRoc Records.

Relationships

Damon was romantically involved with R&B artist Aaliyah from 2000 until her tragic death in a plane crash in August 2001. Although they were not officially engaged, Dash has mentioned in interviews that they had future wedding plans. He was married to Rachel Roy from 2005 to 2009, having met her when she interned at Rocawear. Together, they had two daughters, Ava Dash (born in 1999) and Tallulah Dash (born in 2008). The couple’s divorce in 2009 sparked a contentious custody dispute over their daughters. Roy claimed domestic abuse and was granted sole custody, along with a three-year restraining order and substantial financial support.

Dash also has a son, Dame “Boogie” Dash, born in 1991, whom he shares with his ex-girlfriend, Linda Williams. Boogie stars in the reality series “Growing Up Hip Hop,” aired on WE tv.

Moreover, Dash and his fiancée, film producer Raquel Horn, welcomed a son together, Dusko Dash, who was born on November 14, 2020.