Over the past few years, Damon Dash, the co-founder of Roc-A-Fella Records, has revealed his financial difficulties and money struggles. Having previously stated that he is “broke,” recent court documents reportedly obtained by Radar reveal that he is now seeking a reduction in child support payments to his ex-partner, Rachel Roy, with whom he shares two daughters named Ava, 24, and Tallulah, 15.
Dash currently has to pay a reported $3,000 monthly in child support to Roy for the minor Tallulah. In the legal filings, he is requesting a reduction in the payments for his daughters, citing an income slightly above $5,000 for the entire year of 2022. Dame Dash asserts that his income has declined since 2020, attributing the lingering impact of the pandemic on his professional endeavors as the reason for his financial setback, as reported by Radar.
According to TMZ, Dash is requesting a reduction in his monthly payment from $3,000 to $428, which is almost an 86 percent decrease. The amount he is proposing is even less than what someone working a full-time job with a minimum wage of $15 per hour would earn in a week, which is $600 before taxes.
Roy, a fashion designer, was awarded sole custody of his two daughters when Ava, now a model, was 15 years old and Tallulah was 6 years old in 2015 when she and Dash separated.
Damon is also a parent to three other children, including a 32-year-old son named Dame ‘Boogie’ Dash from his previous relationship with Linda Williams, a 19-year-old son named Lucky from his previous relationship with Cindy Morales, and a 3-year-old son named Dusko from his fiancée Raquel Horn.
While there have been claims that Dash is facing financial difficulties, Roy has disputed these claims and is currently taking steps to counter them.
Dash was arrested in 2019 for failing to pay $400,000 in child support arrears, Radar reported. He claimed in an interview on Fox New York’s morning show, “Good Day New York” that his arrest was the result of “a setup.”
“It’s all about business. It’s about these lawyers, they try to manipulate things and they don’t care if they ruin your life,” Dash said. “What she would do is not pay the child support, step down as manager and never correct the situation.”
He added, “The way I had the child support situated it would go into the company — Rachel Roy — she was the manager of the company, and she would pay the child support.”
As Finurah previously reported, Dash is credited with introducing Jay-Z as a solo artist and launching State Property and Dipset. In Drake’s “Pound Cake,” Jay-Z gives Dash credit as a multimillionaire, which seemed accurate in 2013, considering his net worth was reported to be $50 million.
Now at about $100,000, perhaps his downfall started in 2004 when Roc-A-Fella Records, which he co-launched in 1996, was sold to its partner Def Jam Music Group for $10 million. Def Jam had previously purchased 50 percent of the company in 2007. Jay-Z transitioned from Roc-A-Fella artist to the president of Def Jam. He reportedly negotiated a deal that gave him ownership of his masters. Dash complained he was left out of this deal.
The “broke” CEO has expressed his feelings of betrayal toward Jay-Z and is determined to regain control of Roc-A-Fella, a music label they co-founded. Just last month, he said he believes that he is still the CEO of Roc-A-Fella Inc., which is separate from Roc-A-Fella LLC. During his recent appearance on local Atlanta podcast show, he announced his intentions to revitalize the brand under his own leadership.
“I’m taking back Roc-A-Fella; I don’t need no paperwork,” the Harlem native said on the podcast. “Roc-A-Fella never dies. It’s not dead; I just f**kin’ took a vacation. I’m the CEO of Roc-A-Fella Inc. and Jay-Z knows it, and so does Biggs.” Kareem Biggs was the thrd co-founder of Roc-A-Fella.
Dash continued, adding “Not Roc-A-Fella LLC — we sold that; Roc-A-Fella Inc. — I’m still the CEO.”