Damon Dash, the music mogul and entrepreneur, is facing significant financial problems with new creditors seeking to place their hands on his assets.
Now, bestselling author Edwyna Brooks and filmmaker Josh Webber are the latest to take legal action against Dash and recover on unpaid judgments.
As per AllHipHop, Brooks, who scored a $78,289.57 judgment against Dash for copyright infringement, is seeking to take his assets as a businessman. She was suing Dash for the illegal marketing and distribution of her book series "Mafietta."
While Brooks previously won in court in 2019, earning a $300,000 judgment against Dash, Brooks says Dash has avoided paying by moving assets from one company to another.
To collect what Brooks is owed, she has asked a judge to order the sale of Dash's shares in multiple businesses, such as Poppington LLC and The Dash Group LLC. She is also pursuing the rights to movies like Honor Up and Too Honorable.
Similarly, Josh Webber, the filmmaker who won a defamation and breach of contract case against Dash for "Dear Frank," is pursuing Dash's property. Webber's attorneys seek the confiscation of assets such as luxury watches and any money generated from previous ventures.
Last November, the feds auctioned off Dash's portion of Roc-A-Fella Records. The winning bid was only $1 million, still not enough to pay off his reported $8 million debt fully.
Brooks and Webber are using New York law to compel the sale of Dash's assets. If this happens, it could significantly affect Dash and his business partner, Raquel Horn, especially regarding their production company assets.
These legal battles come as creditors ramp up pressure on Damon or Dame Dash to repay debts amid growing financial strain on the music mogul.
Damon Dash's Net Worth
Dame Dash has been a major force in hip-hop for many years. While his impact remains, his financial situation has changed significantly over the years.
In 1994, Dash launched Roc-A-Fella Records with Jay-Z and Kareem Burke, becoming instrumental in many of Jay-Z's come-ups.
To its credit, the label enjoyed triumphs in the form of Jay-Z's "Vol. 2 "Hard Knock Life," the song that put the brand on the map in the first place. Founded by Dash and Jay-Z, the Rocawear clothing line raked in $700 million per year at its height.
Dash, however, fell on hard times when Roc-A-Fella disbanded. When Def Jam bought Roc-A-Fella in 2004, Dash received only $3 million. Subsequently, he sold his ownership in Rocawear to Jay-Z for $30 million.
From there, Dash branched out into film and television, producing hits like "Paid In Full." This led him to launch DD172, a media collective that included an art gallery and record label. America Nu, a project from DD172, found an audience despite the difficulties a few months ago through an app and films on BET.
Dash has been struck with financial issues due to legal matters. He's been sued by rapper Curren$y in 2012 for releasing music without permission. Dash had been arrested for unpaid child support of over $400,000 in 2019, but he paid off the debt. 2022 also saw a legal tussle with Jay-Z after he tried to sell "Reasonable Doubt" as an NFT.
As per Blavity, Dash, who once had a net worth of $50 million, is now worth just $100,000.
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