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Damon Dash has gone broke!

damondash 111308 Damon Dash has gone broke!Things are not looking good these days for Dame Dash…

A bank wants his Tribeca condos, the city is seizing his SUV and his lawyer dropped him for not paying his legal bills.

It’s not easy being Damon Dash, has-been hip-hop mogul.

The co-founder of Roc-A-Fella Records and Rocawear – who in 2005 sold his share in the clothing empire to Jay-Z for $20 million – is under assault in Manhattan Supreme Court from lawyers, lenders and landlords fed up with not getting paid.

The fall has been a dizzying one for Dash, who has gone from owning Keds, a vodka company and 1,300 pairs of shoes to dodging bills and accusing a former accountant of ripping him off for millions of dollars.

“I’ve worked with musicians, artists and entertainers that in the eyes of the media are very wealthy,” said lawyer Jason Gabbard, who represented a fashion firm that settled a suit against Dash and his wife over $148,505 in unpaid fees. “But to borrow a phrase from my Kentucky homeland, they haven’t got a pot to p— in – they’re broke.
Source: NY Daily News

Who can you blame for this?? Don’t say Jay-Z! lol…

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RUNDOWN COMMENTS: 49 OLDER COMMENTS...

Comment pages: [1] 2 » Show All

Bunz09

November 14, 2008 at 3:06 PM
1

 

Damn, homie! You weren’t ever really a good businessman if you allowed this to happen. No wonder J fired your broke ass! lol

 
RealRoss90

November 14, 2008 at 3:09 PM
2

 

wow that sucks. damn man what happened?

 
Terikay

November 14, 2008 at 3:09 PM
3

 

THAT’S MESSED UP!!!

 
SongBird09

November 14, 2008 at 3:09 PM
4

 

DAMN!!!! 2 Bad. Maybe J will look out for him huh???

SB

 
maliyah2002

November 14, 2008 at 3:50 PM
5

 

Dizzam Dame. WTF???

 
ladybird

November 14, 2008 at 4:02 PM
6

 

the hell is he gonna do with 1,300 pairs of shoes.

 
SexyNDelicious

November 14, 2008 at 4:06 PM
7

 

of course he has… wut goes up must come down, ya luck runs out sooner than later when u dont have ur priorities str8…

 
Shay_heath

November 14, 2008 at 4:15 PM
8

 

Lol man that aint funny but uumm how do you go from having millions upon millions of dollars to being dead broke in less than 5 yrs.????Who does this?? I dont feel that bad because all them people could have been paid and he could have invested that money into something useful,just making us look bad….damn niggaz get money and dont know how to manage it…I feel sorry for his wife…

 
hanmahayes

November 14, 2008 at 4:41 PM
9

 

I seen this comin but I thought it would have happened sooner. He owe alot of people money, shame though. THE ROCK!!!!

 
DANIELLE

November 14, 2008 at 4:43 PM
10

 

damn Damon Dash……it was all good just a minute ago….was on cribz pop’n tags off socks and had his boy Cam calling for money…..I guess all that caught up with’em……plus a real bidnezz man always signs his own checks….ask Oprah… former accountant of ripping him off for millions of dollars…please!

 
Plankton

November 14, 2008 at 5:24 PM
11

 

ahh it’s hard maintaining the lifestyle..when it’s all a big fallacy..

 
apaine

November 14, 2008 at 5:26 PM
12

 

wOw… that’s what you get when you buy 1300 damn pair of shoes! BROKE. well, he don’t have a pot to piss in but by my calculations he will be able to wear a fresh pair of shoes every day for 3.56164383516438… years haha! hope he bought as much underwear…

 
1CHARMINGMUTHAPHUKA

November 14, 2008 at 5:34 PM
13

 

damn homie, high school you was the man homie, what the phuk happen to you.
i guess there wont be another “Ultimate Hustler” season. wow first Cam now Dame, dont go against the ROC. You sold your share of the clothes for 20mill. bad idea. even though dame and j got in to it, i wouldnt have sold my share. ever heard of quite investors. i would have just stayed a silent investor. pay me until we fall.

1charmingmuthaphuka

 
wougi04

November 14, 2008 at 5:58 PM
14

 

Man he need to do another reallty show with BET

 
Dontex

November 14, 2008 at 6:14 PM
15

 

Dame sold his share of Rocawear for a measly 20 Mill…Jay then flips it and sells the whole damn thing for a whopping $204 Million in cash….IN CASH DAMMIT.!!!..and then people ask why Dame is broke…if he can get jerked that easily…dude obviously doesn’t know what the fukk he’s doing…..SMH

 
REDDOG

November 14, 2008 at 6:28 PM
16

 

Well now…..hope all those that like to say “they making money than we are” see that it aint about the money. Money dont make you.

Guess people didnt learn nothing from what happened to MC HAMMER. Imagine Dame Dash saying how that would never happen to him. Well when you refuse to learn and get knowledge…….getting money want last.

The church is calling…….you dont have to wait till you hit the complete bottom to get on ya knees!!!!

 
Bred601662

November 14, 2008 at 6:31 PM
17

 

Just sad.

 
Superstar6000

November 14, 2008 at 6:39 PM
18

 

Alright Bishop REDDOG ..lol..
This is so unfortunate..hate to see anyone go through like that.
But you will quickly realize that what you have is not yours anywayz.
It all belongs to God. The faster you learn that, the easier things
will be. 20,000,000 to broke..that’s not even ignorance to me
that’s laziness and being complacent. Plus note to all…never sell
your passive income.

 
VERSE1

November 14, 2008 at 7:10 PM
19

 

In respone to Ladybird’s comment “the hell is he gonna do with 1,300 pairs of shoes.” I think he gone sell em LOL. From Rocafella to Rock bottom. He should ask Jigga man for ANOTHER hand out or loan.

 
jahnusy

November 14, 2008 at 8:25 PM
20

 

20 million aint shit.. not when u tryin to front nexta people who make that much in a season or a month.. and thats ALL u got.. a one time deal.. he shoulda been watchin that very closely should have been able to ride that to the grave.. the dumbass who would buy 1300 pairs of shoes obviously wouldnt know how to do that.

 
PINKANDTHICK

November 15, 2008 at 12:12 AM
21

 

Damn Dame…..you took it all for granted. I am not going to down you…I have been down that road. Learn from it….put God first!

 
shorty

November 15, 2008 at 12:16 AM
22

 

I don’t think he’s broke! plus this story is so biast to get peoples attention!! A lot of people are trying to sue him, shit id play broke too! I jus read in an article last week he bought a female friend (not his wife) a 150K watch or something like that…
Dames a smart business man; he got some off shore accounts, for sure! This is what all the rich white people do with they’re money just in case things go wrong financially. He has ‘a pot to piss in’

 
MZTHIQ

November 15, 2008 at 8:50 AM
23

 

not suprised. he a Clown..

 
Latrice

November 15, 2008 at 9:53 AM
24

 

Well I’m sure he’s knows how to make all that money back….. I not sure he’s broke I will wait and see..

 
SoloKoolKid

November 15, 2008 at 11:08 AM
25

 

I knew this dude will be nothing without Jay-z!! All he knows is to run his damn mouth!!

 

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