Damon Dash Pretty Much F*cked (Financially)

This summer Roc-a-Fella Records co-founder Damon Dash received a warning from his bank after having not made a payment on his $78,504.20-a-month mortgage since January. Now the Daily News is reporting that the bank wants his two Tribeca condos, which under the same mortgage and located at 25 N. Moore Street and 79 Laight Street. On top of losing the homes, the city is seizing his SUV and "his lawyer dropped him for not paying his legal bills." Yikes, what happened to the $20 million he got for selling his half of Roc-a-Fella to Jay-Z? He also has an outstanding $2.1 million bill from the New York State Department of Taxation and Finance. A lawyer who settled another suit against him and his wife for unpaid fees told the paper, "to borrow a phrase from my Kentucky homeland, they haven't got a pot to piss in - they're broke."

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By Jen Carlson in News on November 14, 2008 11:28 AM

Comments [rss]

NannyState

"I said sell short, not sell snort!"

i_heart_nyc

He should have used Wu Tang Financial because you and your fam can't be relying on wankstas like Smith Barney."

You need to diversify yo' bonds, nigga!

Jerky

You mean taking out a $7.5 million dollar mortgage isn't a smart thing to do when you're only worth $20 million? Gee, I never saw that one coming.....

aveB4life

smh @ johnie.

deleteyourself

That last bit from the Jay-Z song is about Memphis Bleek dude. Can't you read?

Dame Dash is an idiot that has ridden the coat tails of jay-z for years.

Johnie

I thought Jay-Z had his back...granted after fckin' him over.

http://nymag.com/news/profiles/17268/index4.html

And from "Diamonds From Sierra Leone":

You know the next question dog 'yo, where Dame at?'(uh)

This track the Indian dance to bring our reign back (whoo!)

'wassup wit you a Jay man, are ya'll okay man?'

[Jay-Z]

Yep!

I got it from her 'ye damn!

The chain remians, the gang is in tact

The name is mine, I'll take blame for that

The pressure's on, but guess who ain't gon' crack? [laughs]

Pardon me I had to laugh at that

How could you falter when you're the rock of gibralter

I had to get of the boat so I could walk on water

This ain't no tour order, this is nothin to me

Difficult takes a day, impossible takes a week

I do this in my sleep,

I sold Kilos of coke, (so?) I'm guessin' I can sell CD's

I'm not a buisness man I'm a buisness, man

Let me handle my buisness, damn!

Kanyeez you got me, Freeway and Foxy

YG', Teairra Mari, Petey watch me

Bleek could be one hit away his whole career

As long as I'm alive, he's a millionaire

And even if I die, he's in my will somewhere

So he can just kick back and chill somewhere, oh yeah

He don't even have to write rhymes

The Dynasty like my money last three lifetimes

EastRiver

So rap stars don't know how to manage their money?

Maybe they got bitch slapped by the drop in the Euro?

JenChungsBaby

So what? Who among us hasn't pissed through $20 million before?

killerasp

roca-pads sales are poor?

http://www.metacafe.com/watch/181834/roca_pads/

emilydickinson

That's so odd, because I usually equate hip-hop with financial responsibility.

FinalShaft

The full expression is more appropriate... "He doesn't have a pot to piss in or a window to throw it out of."

Billiamsburg

wait wait wait. So rap stars don't know how to manage their money? So throwing cash out of hummer limos and dumping out over priced champagne is a bad financial move?

babyhitler

What? you mean all those videos about rappers and bling are fake and was all on borrowed studio money that they eventually had to pay back with interest? get out! No wonder Jay-Z's successor committed suicied. the real gangsta's have always been old white dudes.