As of 2021, Damon Dash Net Worth is estimated at an approximate value of $10 thousand. How did Damon Dash Net Worth drop so low, given his popularity? Read on to find out more about Damon Dash Net Worth, life, and financial situations that led to where he is today.
Damon Anthony Dash, born on May 3rd, 1971 is an American entrepreneur, record executive, film producer, director, and actor. Damon Dash Net Worth is $10 thousand, at present in 2021. Damon Dash is most popular as a co-founder of Roc-A-Fella along with Jay-Z and Kareem Burke, since 1996.
Unlike his partner of old times, Jay-Z, who today is a popular billionaire, Damon has experienced several financial issues in recent years. In late 2019, Damon was recorded telling a New York judge that he is too broke to pay for child support. Most of his income was being garnished by a huge line of creditors standing behind him. As of 2021, Damon Dash Net Worth is approximately 10 thousand dollars.
Damon Dash’s Early Life
Damon Dash was born on the 3rd of May, in 1971 in New York City.
He never had a comfortable childhood with easy money. It is said that Damon Anthony Dash lost his mother at the age of 15 due to asthma attacks. Since then he had to sell newspapers and sweep the floors of barbershops to earn enough money to buy clothes for himself. He attended private schools and recognized his capabilities in the field of music at a very young age.
Damon Dash Net Worth- Family Life and how it affected his total worth later
The context of family life is important here, as it is one of the factors that affect Damon Dash Net Worth
In the year 1999, he came across the famous R&B singer, Aaliyah, and proposed to her. But misfortune followed him once again, as she passed away in 2001, in a plane crash. The couple had not yet been formally married, but according to one of the interviews of Damon Dash, they were about to get married.
Years down the lane he found love once again as he met fashion designer, Rachel Roy, and married her. The two had met while Rachel was working as an intern at Rocawear. They together had two children of their own and were married for four years, from 2004 to 2009. Their divorce led to a bitter and pretty ugly fight between the couple regarding the custody of their two daughters- Ava Dash and Tallulah Dash. Damon Dash was accused of domestic abuse and Rachel received sole custody of the children along with a three-year restraining order and financial support.
Damon Dash also has a son named Dame “Boogie” Dash (starring in Growing Up Hip Hop, a reality show on WE Tv). He was born in 1991, mothered by Dash’s former girlfriend, Linda Williams.
As of the current scenario, Damon Dash is engaged to his pregnant fiance and film producer, Raquel Horn.
Damon Dash Net Worth- Career and downfall
To know about Damon Dash Net Worth at present, we need to take a look at his career- how and where it began, and where things went wrong.
In the year 1992, Damon Dash met young Brooklyn rapper, Jay-Z. After becoming friends, the two launched Roc-A-Fella records in 1996. Kareem Burke was also a co-founder besides these two.
Soon, Jay-Z and Damon Dash became close friends. Damon Dash even worked as Jay-Z’s manager for a while. In 1999, Dash organized a tour for Jay-Z that raked in 19 million dollars. As Jay-Z rose to heights of popularity, Damon Dash’s net worth was seen to be rising to a good $50 million value.
But happiness was short-lived for Damon as he had a break out with Jay-Z in 2004. Jay-Z’s new album, Reasonable Doubt was just about to be released, and the two were nearing success, but all of a sudden Roc-A-Fella Records was bought by Def Jam Recordings and Jay-Z agreed to the position of president of Def Jam. In late 2005, Jay-Z bought Dash out of his stake in his Rocawear company. As a result of this series of unfortunate events, the relationship between the duo soured and finally crumbled down.
Damon Dash Net Worth- Financial Problems
During his divorce proceedings with Rachel Roy, he was reported to have told the judge at court that he owed $2 million in back taxes. He was also being accused by several NYC firms and other creditors for not being able to pay them back. By then, His Chevy Tahoe had been repossessed as he was unable to keep up with the $700 monthly payments.
Damon Dash Net Worth being dropped compelled him to vacate his $9 million Tribeca New York home. His $9 million NY home was later sold off for $5.5 million.
In the year 2014, Damon Dash was ordered by the court to pay Linda Williams, the mother of his only son, a sum of $50,000 on charges of harassment.
In August of 2014, another shocking revelation was made as Damon Dash Net Worth kept dropping. It was revealed that Damon Dash owes back taxes worth $4.14 million to the state of New York.
In September of 2009, Damon Dash made a petition to the courts to release him of his child support payments. During the divorce proceedings, Damon had initially agreed to pay $6000 per month in child support for his daughters. Now, in 2019, in his petition, he mentioned that in the year 2018 he had managed to earn a total of $56,00 while Rachel Roy on the other hand had earned more than $60,000. Thus he should be released off his child support payment duties, as it was becoming a financial burden for him at this point.
In November of 2019, Damon Dash was arrested for failing to pay $4,00,000 for child support. He had to get himself released by paying more than a million dollars. Later that month, Damon filed legal docs claiming that he was broke again and could not afford to pay a sum of $2,400 to his creditors as personal debt. This time he claimed that his only source of income is his own business which currently makes almost no profit at all.
As of 2021, Damon Dash Net Worth is estimated at around $10 thousand.
From $50 million to $10 thousand, Damon Dash’s net worth did see a great downfall.
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