In the words of Bob Dylan “times they are a changin’ ” as the once hip-hop mogul who co-founded Roc-A-Fella Records with Jay-Z and Kareem Burke, Damon Dash has filed for personal bankruptcy in Florida.
Citing $25,000,000.00 in debts with minimal assets, Dash’s 56-page petition obtained by Rolling Stone, states no monthly income, no house, no car, no publicly traded stocks, no retirement account, and only about $4,350 in worldly possessions, with assets that include two guns, furs, jewelry worth $2,500, designer wear, televisions, computers, and some electronics.
Claiming he only has $100 cash t his name, the now 54-year-old former Rocawear boss, known for his work promoting Cam’Ron and Kanye West years ago, says his current debt includes $19,000,000.00 in back California, New York, and New Jersey taxes and a $4,000,000.00 default judgment he owes filmmaker Josh Webber for allegedly defaming Webber on a podcast. According to the filing, the former entrepreneur also owes nearly $650,000 in domestic support obligations, including $160,000 owed to his ex-wife Rachel Roy, the fashion designer mother of his two daughters, and another $207,600 owed to Cindy Morales, the mother of one of his sons.
On Thursday (9.04,) Dash filed his voluntary petition and took to social media on Friday (9.05,) posting on Instagram with the caption “Now let’s get to work #staytuned,” to his 1.3 million followers. The former entrepreneur also reposted a video showing of himself playing with his four-year-old son Dusko, whom he shares with his fiancée Raquel Horn, an author and wellness advocate.
Horn regularly posts photos of the suburban Tampa home she shares with Damon and their son in Winter Haven, Florida. The lakefront home was purchased for $1,200,000.00 in in 2022 and lists Horn as the primary owner, according to public records.
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Author: Al Denté
Photo: Timothy M. Moore at https://www.flickr.com/photos/photocology/