Facts of Damon Dash Networth
|Full Name||Damon Dash|
|Birth Name||Damon "Dame" Anthony Dash|
|Profession||Entrepreneur, Record Executive, Film Producer, Director, Actor|
|Birth City||New York City, New York|
|Relation With||Rachel Roy, Linda Williams|
|No Of Children||3|
|Date of Birth||May 3,1971|
How Much Is Damon Dash’s Net Worth? Is Damon Dash Broke?
Damon Dash has a net worth of around $2 million as of July 2019. Best known for establishing Roc-A-Fella Records. The story of his rise to millionaire status and his subsequent fall to owning money to everyone including the tax authorities is an incredible one.
He is in debt as of July 2019 which many consider being worse than broke. Medium reports that he owes a lot of people money.
It is estimated that he owned a $50 million fortune in the past before his downfall.
The former CEO of Roc-A-Fella Records has made a name for himself among the public as one of the pillars of the rap music industry. In addition to this, he also managed singers like Jay-Z and Kanye West in the past but the two went separate ways after their relationship became hostile.
CNN reports that he once said his company would be worth billions. In fact, he also stated that he would take over the world.
Net Worth Details- Income Sources, Salary, And Career
Former music industry tycoon Damon Dash is worth $2 million as of July 2019. He amassed this net worth from his incredible career working as a music industry executive. Despite being a well-known name in the music industry the exact figures of his salary are not available.
The average salary for a music executive is around $175,110. Similarly, film producers earn around $68,151 as per data from PayScale.
To add to this, actors earn around $50,110 as per data from PayScale and directors earn around $80,979.
Dash was Jay-Z’s manager in the past and also did business with him, in fact, he was his business partner. Their relationship became hostile after Roc-A-Fella Records was purchased by Def Jam Recordings and Jay-Z became Def Jam's president.
After this, Jay-Z also bought Dash’s shares in the clothing company Rocawear, he was also the CEO of the company which earned around $350 to $450 million annually. The two were his main sources of income and after losing these two sources his downfall started.
Establishment & Downfall Of Roc-A-Fella Records
Dash and Jay-Z co-owned Roc-A-Fella Records and was the company established in 1995. The company managed a lot of rappers in the past. It also worked with rappers like Kanye West, Jay-Z & Linkin Park which included Chester Bennington.
Some albums released by the company The Black Album, The Dynasty: Roc La Familia, Collision Course among others. The record company defunct in 2013.
Tax, Tax Payments, Tax Returns, - How Much Does He Owe Back In Taxes?
Dash was once a tycoon of the music industry, but as of July 2019 is financially in a hard place. In an interview with MTV, he stated that he owed almost $3 million in taxes in 2013.
However, Page six, reports that he owed around $4.14 million in taxes to the state of New York. In addition to the tax bills, he regularly has to pay he was also included in the list of New York State’s Top Tax Deadbeats.
On the contrary, Dash has said that he owes way more than $2 million in taxes. As a matter of fact, Ipowerrichmond reports a statement by the former tycoon which is given below.
“I owe way more than $2 million in taxes. That must’ve just been the IRS… Nah, nah, I’m f—ed up.”
The tax state of Dash is in a very bad condition and as he has lost almost everything he amassed during his career he is in a tough spot financially.
Assets, House, Cars, Expenses
Damon Dash has a house in California, the USA which survived the California wildfires of 2018. He also owned a 6,500-square-foot house in Manhattan's TriBeCa district, New York.
The house had Brunswick fawn-colored pool table, two Cruisin' in Exotica racecar arcade games along with other collectors’ items that surely cost millions.
He must also own state of the art cars which cost hefty amount but the exact information of his car collection is not available in the media and tabloid sources.
Fall From Millionaire Status- How He Lost All Of His Money?
In the past, Damon Dash had an estimated fortune of $50 million. He was the CEO of Roc-A-Fella Records and was business partners with Jay-Z.
But after a few failed ventures and an alleged rape case for which he was sued for $15 million he lost all of his fortunes and went into debt.
To add to this he also had to use $400,000 to settle a legal battle that he had been dealing with for a number of years.
Charity & Insurance
Dash may also be a passionate philanthropist, he once donated his socks to charity but apart from this, there is no information of his charities in the media and tabloid sources.
He may also have insurance of his health, life, body, health, and properties but the exact plans and policies are not available in the public domain.
Damon Dash’s Personal Life: Son Died, Age, Kids, Marriage, Wife, Height
Damon Dash was born Damon "Dame" Anthony Dash on May 3, 1971, in New York City, New York, U.S. He is African-American by ethnicity and is American by nationality. His mother died of an asthma attack when he was 15 years.
As a child, he struggled a lot and swept the floors along with selling newspapers but later made himself into a multimillionaire.
Marriage, Children, Death
Regarding his relationships, he dated R&B singer Aaliyah after he met her in 2000. They couldn’t stay together for very long as Aliyah tragically died in a plane accident in The Bahamas on August 25, 2001.
In an interview after her death, he said that he planned to make Aaliyah his wife.
After that, he married Rachel Roy in 2005. The couple is blessed with two daughters, Ava Dash born on December 7, 1999, and Tallulah Dash born May 14, 2008. They divorced in 2009 and had a very long and bitter custody battle.
Apart from this, he has a son named Dame "Boogie" Dash with former girlfriend Linda Williams. The court ordered him to pay $50,000 to Linda Williams in 2014 after he was charged with harassment.
There were rumors of his son dying in the past but they turned out to be false.
Age And Height
He is 48 years old and is 5 feet 10 inches (178 cm) tall.