Dame Dash claims he is broke.
In a video clip on Instagram, the music executive states that his desire to pursue his dreams has also led him to lose his wealth.
“Somebody asked me how I got so broke. Investing in my dreams,” Dame Dash explained. “You know, when you’re investing in your dreams and you dream big, you’re always gonna be broke… or have a lot of sh-t. But I don’t have no money for nobody else. That’s what you call broke. But that’s what it is.”
Currently, Dash is facing a financial bind due to a $800,000 judgement amount that he will now owe as a result of a prior copyright infringement and defamation of character lawsuit, as AFROTECH™ previously reported.
As required by the court, the U.S. Marshals are selling Dame Dash’s shares in Roc-A-Fella Records, which amount to 33% and are reportedly worth $1.2 million. They will be up for auction on Aug. 29, 2024.
There is great interest surrounding the auction as Roc-A-Fella Records owns the copyright to “Reasonable Doubt.” However, the winning bidder will only have six years to maintain their part ownership in the album until it is returned to Jay-Z, according to Billboard.
“Based on feedback I have received from interested parties (and I can’t mention names), this auction will likely bring out many household names in the sports and entertainment industries as well as those interested in a piece of a historically significant company, which holds an interest in a timeless debut album,” Dame Dash’s attorney Natraj Bhushan explained to Billboard.
To motivate bidders, Dame Dash is offering a Roc-A-Fella chain to those who make a minimum bid of more than $10 million.
“If you do wanna buy one-third of Roc-A-Fella Inc. you are gonna have to bring some bread, and anything over 10 million, I’m gonna sweeten the pot,” Dame Dash said, per Complex. “You get an original Roc-A-Fella chain from off my neck.”
He continued, “‘Cause I was the only one that gave out Roc-A-Fella chains when Roc-A-Fella really existed. If I don’t give you the chain it’s not a legit Roc-A-Fella chain. You get one of these, this is legit. This is the old-school one from off my neck. You know like when I took one off my neck and gave one to Kanye, Cam’ron, all that.”
