Dame Dash, also known as Damon Dash is a record producer, music executive, and entrepreneur whose net worth is -$2 million.
His rise and fall
His rise
Roc-A-Fella Records
Dame co-founded the music label Roc-A-Fella Records with Jay Z. The label became popular and Dame’s net worth at one time was $50 million. He was the CEO in the late 90s and early 2000s. The most popular artists had signed into the label, ranging from Kanye West, Beanie Sigel, Juelz Santana, Jay-Z, Memphis Bleek, to DJ Clue.
Rocawear
Dame founded Rocawear, a successful clothing line with Jay Z. He was the CEO. The clothing line generated $350-$450 million in revenues annually after branching into 5 different clothing and shoe lines. Jay Z later sold it to Iconix Brand …show more content…
Staff members were intimidated by his temper tantrums over small issues. He fired talented executives and burned bridges. He also resented Jay-Z’s new alliance with Lyor Cohen, Def Jam’s boss. Jay-Z and Kareem Burke refused to allow Dame to spend $3 million on an ad campaign for their brand of vodka. He also began to be excluded from high profile meetings.
In 2004, the 3 Rock-A-Fella partners agreed to sell the label to Def Jam for $10 million. Each partner was to receive $3 million. Jay-Z was to be promoted to Def Jam’s president. Dame could not keep the Rock-A-Fella name. The artists were allowed to choose to stay with Def Jam or form a new label with Dame. Most chose the former.
Rocawear
Dame was expelled from the company, with a buyout worth $22 million. He only received $7 million.
Failed Businesses
Roc La Familia
He established a new record company but it failed and closed down.
The Damon Dash collection
He launched a clothing line that also failed.
Divorce and child support
Dash’s wife, Rachel Roy divorced him. Court Records show that Dame owes his ex-wife Rachel Roy $340,000 in child support. He could avoid going to jail if he pays what he owes. He was also ordered to pay some of his ex-wife’s court fees, to the tunes of $25,000. He was also charged with $51,109 for child support to the mother of his 11 year old son.
Alleged
His rise and fall
His rise
Roc-A-Fella Records
Dame co-founded the music label Roc-A-Fella Records with Jay Z. The label became popular and Dame’s net worth at one time was $50 million. He was the CEO in the late 90s and early 2000s. The most popular artists had signed into the label, ranging from Kanye West, Beanie Sigel, Juelz Santana, Jay-Z, Memphis Bleek, to DJ Clue.
Rocawear
Dame founded Rocawear, a successful clothing line with Jay Z. He was the CEO. The clothing line generated $350-$450 million in revenues annually after branching into 5 different clothing and shoe lines. Jay Z later sold it to Iconix Brand …show more content…
Staff members were intimidated by his temper tantrums over small issues. He fired talented executives and burned bridges. He also resented Jay-Z’s new alliance with Lyor Cohen, Def Jam’s boss. Jay-Z and Kareem Burke refused to allow Dame to spend $3 million on an ad campaign for their brand of vodka. He also began to be excluded from high profile meetings.
In 2004, the 3 Rock-A-Fella partners agreed to sell the label to Def Jam for $10 million. Each partner was to receive $3 million. Jay-Z was to be promoted to Def Jam’s president. Dame could not keep the Rock-A-Fella name. The artists were allowed to choose to stay with Def Jam or form a new label with Dame. Most chose the former.
Rocawear
Dame was expelled from the company, with a buyout worth $22 million. He only received $7 million.
Failed Businesses
Roc La Familia
He established a new record company but it failed and closed down.
The Damon Dash collection
He launched a clothing line that also failed.
Divorce and child support
Dash’s wife, Rachel Roy divorced him. Court Records show that Dame owes his ex-wife Rachel Roy $340,000 in child support. He could avoid going to jail if he pays what he owes. He was also ordered to pay some of his ex-wife’s court fees, to the tunes of $25,000. He was also charged with $51,109 for child support to the mother of his 11 year old son.
Alleged