Dame Dash is broke. The Hip-Hop mogul and founder of Roc-A-Fella Records is in dire financial straights under a heaping amount of personal debt.
Long rumored to be in a financial hole, the New York Daily News detailed the Harlem native's money troubles, and they are probably worse than most imagined.
“I am currently several months behind in paying my personal bills,” he wrote 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.”
Dash lost a pair of multimillion-dollar Tribeca lofts to foreclosure in 2010, with $7.3 million left on the massive mortgages.
He was platinum-selling Jay-Z's partner in Roc-A-Fella Records and the Rocawear clothing line, and once boasted in a magazine interview that he ruled a $50 million empire.
In a recent interview with the Combat Jack Show, Dash admitted that he wasn't balling like in his Roc-A-Fella days but assured listeners that he was relatively financial stable. He even mentioned making plenty of low keys moves with projects like his DD172 art gallery and a motor oil, for example, that theoretically kept him comfortable. However, the New York Daily News reports a way different story.
In a sworn statement asking a judge not to garnish his wages, Dash disclosed:
- 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.
Nevertheless, Dash insists he is in this situation as a result of fighting legal battles that come with being an independent business man.
Photo: Sara Jayeabaca