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Damon Dash's $ woes

 
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zsazsa View Drop Down
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    Posted: May 11 2013 at 1:55pm
I remember watching him at the height of his fame and he was on TV talking about he never wears socks (or was it pants?) more than once. I thought he was a t**ser. 

I think it must be awful to have had it all then lose your money like this. I would hate to be rich just to taste poverty a few years later. I think it would destroy me! 

Anyone else thinks his ex wife looks like Camilla Alvis ( matthew Mcconaughey's wife)? 


Jay-Z's former partner fears eviction as he drowns in debt from $24k alimony to ex-wife, designer Rachel Roy, tax payments and lawsuits



Damon Dash was once living the high life as partner at Jay-Z's record label but now the man claims he is deep in debt and is pleading with a judge to not garnish his wages to pay off his creditors. 

The hip-hop entrepreneur claimed in court filings this week that he is overwhelmed with personal bills, including $24,000 in alimony to ex-wife designer Rachel Roy, and could be evicted. 

The 42-year-old is pleading with a judge to allow him time to deal with his financial mess. 

Falling out

Falling out: Damon Dash (left) and Jay-Z (right in 2002) became fast friends in the 90s and founded Roc-A-Fella Records together in 1996

High life:

High life: Damon Dash had a glamorous life as a hip-hop mogul and a beautiful family with wife, designer Rachel Roy (right in October 2006) but both his business relationships and marriage have fallen apart

Bills

Bills: Damon says he is overwhelmed with bills, including alimony payments of $24,000 every three months to his ex-wife (pictured in New York in 2005 with their 2 daughters)

Dash submitted a sworn statement to a judge in Manhattan asking for leniency as his tries to manage his finances and asking that his wages not be garnished, according to the New York Daily News.

'I am currently several months behind in paying my personal bills,' he wrote on Tuesday in the 5-page filing.

 


    'For instance, I am currently over $100,000 behind in rent for the only home in which I live and at risk of being evicted.'

    According to the court filing, Dash pays $24,000 every three months to his ex-wife, with whom he has two daughters.

    He is also making monthly child support payments of $4,341.10 for his son, Christian, from another relationship. 

    Damon
    Damon

    Glamor: Damon Dash was previously engaged to singer Aaliyah (pictured left in New York in 2001) and ran in high profile circles (right with model Naomi Campbell in 2007)

    Good times

    Good times: Damon Dash (left, with Busta Rhymes, center, and Gisele Bundchen in 2002) reportedly got carried away with lavish spending

    Additionally, he has amassed thousands of dollars in debts, tax payments, and lawsuits from his various business dealings, including a $237,078 outstanding loan, suits brought by landlords, fashion designer Charlotte Ronson and even a celebrity bodyguard firm. 

    Though Dash sounded desperate in his court filing, he downplayed the sense that he is in dire straits in an email, sent from his lawyer, to the News. 

    'I'm an independent businessman and this is what comes from business,' Dash said, according to an email from his attorney, Gregg A. Pinto.

    '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,' he added. 

    Fashion

    Fashion: Damon Dash met his wife Rachel Roy (together in 2006), when she worked as a designer at Rocawear - the clothing line founded with Jay-Z. He backed his former wife's own line, Rachel Roy, in 2005

    RAchel
    First Lady Michelle Obama blows a kiss at US President Barack Obama before his State of the Union address before a joint session of Congress on January 25, 2011

    Success: Damon's ex-wife has enjoyed success as a designer (left with Stacy Keibler at the Met Costume Gala on May 6 and pictured right, Michelle Obama in a Rachel Roy dress for the 2011 State of the Union address)

    Dash's rise in the entertainment world began when he met an up-and-coming artist Jay-Z, then just known as Sean Carter, in 1994. 

    Mesmerized by Jay-Z's talent and ambition, he forged a tight friendship with the hip-hop artist and together they founded Roc-A-Fella Records in 1996.

    In 1999, they founded Rocawear clothing line. 

    Dash even dabbled in Hollywood, he served as a producer for The Woodsman, starring Kevin Bacon and Paid in Full with Mekhi Phifer. His sister is Clueless actress Stacey Dash. 

    He began a high profile romance with singer Aaliyah and the pair were engaged, until her tragic death in August 2001 in a plane crash.

    Between 2002 and 2004, reports indicate that Dash's indulgent lifestyle, with several luxury properties cross the globe and his outlandish spending, became too extreme. 

    Jay-Z reportedly grew weary of Dash's ego and ambition and they had a falling out that lead to the sale of Roc-A-Fella to Def Jam Records in 2004. 

    At a meeting in December 2004, Jay offered Dash a $22 million buyout, $7 million in cash.

    In the aftermath of the split, Dash started his own label but it has met with little success. 

    During his time at Rocawear, Dash met and married one of the line's designers Rachel Roy in 2005. 

    She launched her own, eponymous line, with her husband's backing in 2005. 

    The Rachel Roy brand has met with tremendous success and is a favorite of First Lady Michelle Obama, Kate Hudson and Jennifer Garner.

    The powercouple had two daughters, Ava and Tallulah, but split in 2009.



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    zolloh View Drop Down
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    Post Options Post Options   Thanks (6) Thanks(6)   Quote zolloh Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:03pm
    i stopped at "$100,000 behind in rent" Ermm
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    zsazsa View Drop Down
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    Post Options Post Options   Thanks (3) Thanks(3)   Quote zsazsa Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:08pm
    Exactly. The first thing you pay off is your mortgage/ buy outright. I can never understand people who have plentiful having a mortgage. lol, I only feel secure knowing I have a secure roof over my head 
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    afrokock View Drop Down
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    Post Options Post Options   Thanks (0) Thanks(0)   Quote afrokock Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:11pm
    how old is that coz even though he is not balling like before he still has a steady stream of income
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    Malwina View Drop Down
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    Post Options Post Options   Thanks (0) Thanks(0)   Quote Malwina Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:14pm
    i never saw his kids before, the girl seems like a beauty
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    Post Options Post Options   Thanks (0) Thanks(0)   Quote zsazsa Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:18pm
    AK The article is of today.

    I have always wondered if JayZ cut him a raw deal. Damon was a big player. 
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    ShadyLady View Drop Down
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    Post Options Post Options   Thanks (0) Thanks(0)   Quote ShadyLady Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:20pm
    LMAO at Winter Ramos picking him over Jay-Z cuz she thought he'd have more money in the long run.

    Not surprised he blew his money.
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    ScorpioLuv View Drop Down
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    Post Options Post Options   Thanks (1) Thanks(1)   Quote ScorpioLuv Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:27pm
    He said he never wore Uptowns (Air Force 1) more than once. I never liked Rachel Roy, I believed that she preyed on him, took advantage after Aaliyah died and married him for the money. She used to work for Rocawear. They got married too soon after Aaliyah's death and he was crushed. Wouldn't get out of bed for months, Jay had talked about Dash's depression on Hot 97

    Edited by ScorpioLuv - May 11 2013 at 2:31pm
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    Post Options Post Options   Thanks (0) Thanks(0)   Quote sache1991 Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:42pm
    Originally posted by ScorpioLuv ScorpioLuv wrote:

    He said he never wore Uptowns (Air Force 1) more than once. I never liked Rachel Roy, I believed that she preyed on him, took advantage after Aaliyah died and married him for the money. She used to work for Rocawear. They got married too soon after Aaliyah's death and he was crushed. Wouldn't get out of bed for months, Jay had talked about Dash's depression on Hot 97

    Aaliyah and Naomi took advantage of his big forehead self as well...Aaliyah was attracted to older men with power and Naomi to the money just like Rachel....he wasn't pulling b/c of his looks and charm. Confused
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    ScorpioLuv View Drop Down
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    Post Options Post Options   Thanks (6) Thanks(6)   Quote ScorpioLuv Quote  Post ReplyReply Direct Link To This Post Posted: May 11 2013 at 2:48pm
    Aaliyah loved the hell out of him, it was more visible than Jay and Bey. She was over elated. You could even hear it when they spoke of each other. Rachel.....

    Just because you date older men/younger women, doesn't mean that you're trying to use them either, otherwise a lot of us would be wrong. Naomi, is just on her own thing. Lol

    Edited by ScorpioLuv - May 11 2013 at 2:57pm
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